Staking Protocol Jito Network Unveils a Governance Token and Airdrop
Jito Network, a Solana-based liquid staking protocol, has recently introduced its own governance token, JTO. The circulating supply of this token is set at 1 billion coins.
The main goal of Jito is to create an infrastructure that mitigates the impact of MEV bots on the core ecosystem.
The company’s statement reveals that the JitoMEV validator network currently manages 40% of the assets locked in Solana.
By launching a native token, the project aims to give community members a direct role in influencing network decisions and direction.
This includes setting fees for the staking pool, controlling treasury revenues, and managing DAOs. The initial circulating supply of JITO is 115 million coins, with 34% allocated for community growth, 25% for ecosystem development, 24.5% for key participants, and 16% for investors.
Furthermore, the project announced that 10% of the token supply will be distributed to Jito community members as a recognition of their contribution to the network’s development.
