Jito (JTO) is a cryptocurrency that was launched in 2023 and operates on the Solana platform. It is a significant contributor to the Solana ecosystem, primarily through its JitoSOL liquid staking pool and a collection of MEV (Maximal Extractable Value) products. The Jito Network allows users to exchange their SOL (Solana's native cryptocurrency) for JitoSOL, which enables them to maintain SOL's liquidity and DeFi (Decentralized Finance) opportunities while earning yield from staking.
By redistributing profits from MEV, Jito alleviates its negative impacts, offering a unique proposition in the DeFi landscape. Users stake SOL tokens in exchange for JitoSOL, a liquid derivative, which is then used by MEV-enabled validators to generate profits from various strategies like transaction re-ordering and arbitrage. This mechanism not only offers stakers higher yield potential but also enables liquidity and active participation in on-chain governance for SOL holders.
Jito Labs, the organization behind Jito, was founded in 2021 and secured Series A funding in August 2022 from several crypto-venture capital firms, including Multicoin Capital and Framework Ventures. Furthermore, Jito (JTO) has garnered attention from major cryptocurrency exchanges like Binance, which announced to list Jito (JTO) as a governance token on its platform, indicating its growing prominence within the crypto sphere.
Explore the tokenomics of Jito(JTO) and review the project details below.
What is the allocation for Jito(JTO)?
The total supply of Jito (JTO) tokens is set at 1 billion, with a specific allocation plan designed to support various aspects of the Jito Network's ecosystem and growth:
- 25% are allocated for ecosystem development, intended to fund communities and contributors aiding the project’s growth.
- 24.5% are set aside for the core contributors, including employees, partners, and other internal project contributors. These tokens are distributed evenly over three years, starting one year after the airdrop.
- 16.2% are allocated to investors, to be distributed similarly over three years, beginning a year post-airdrop.
- 34.3% are designated for community growth. This includes 10% for the airdrop, with the remainder managed by DAO governance on the Realms platform
What is the supply schedule for Jito(JTO)?
The supply schedule for Jito (JTO) tokens is structured as follows:
- Team Allocation (245 million JTO): These tokens are distributed over three years, with the distribution commencing one year after the airdrop.
- Investor Allocation (162 million JTO): Similar to the team allocation, these tokens are also distributed over a three-year period, beginning a year post-airdrop.
This structured distribution is aimed at ensuring a gradual release of tokens into the market, aligning with the growth and development of the Jito Network.
Jito (JTO) is a cryptocurrency that was launched in 2023 and operates on the Solana platform. It is a significant contributor to the Solana ecosystem, primarily through its JitoSOL liquid staking pool and a collection of MEV (Maximal Extractable Value) products. The Jito Network allows users to exchange their SOL (Solana's native cryptocurrency) for JitoSOL, which enables them to maintain SOL's liquidity and DeFi (Decentralized Finance) opportunities while earning yield from staking.
By redistributing profits from MEV, Jito alleviates its negative impacts, offering a unique proposition in the DeFi landscape. Users stake SOL tokens in exchange for JitoSOL, a liquid derivative, which is then used by MEV-enabled validators to generate profits from various strategies like transaction re-ordering and arbitrage. This mechanism not only offers stakers higher yield potential but also enables liquidity and active participation in on-chain governance for SOL holders.
Jito Labs, the organization behind Jito, was founded in 2021 and secured Series A funding in August 2022 from several crypto-venture capital firms, including Multicoin Capital and Framework Ventures. Furthermore, Jito (JTO) has garnered attention from major cryptocurrency exchanges like Binance, which announced to list Jito (JTO) as a governance token on its platform, indicating its growing prominence within the crypto sphere.