Dear Bitruers,
Today, we are excited to share a new article about Jito!. Be sure to follow Bitrue's Official Twitter and Telegram to stay updated!
Introduction
Jito, a prominent Solana-based protocol, is set to revolutionize community involvement by introducing its governance token, JTO. This move marks a significant step towards empowering users and shaping the future of the Jito Network.
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Token Distribution
The JTO token boasts a total supply of 1 billion, with a substantial 10% earmarked for an airdrop to past contributors. This allocation includes an immediate distribution of 90 million JTO tokens and an additional 10 million unlocked gradually over the following year.
Governance Influence
JTO token holders will wield decision-making power within the Jito Network. From setting stake pool fees to managing the DAO-held treasury and contributing to ongoing protocol enhancements, holders will play a pivotal role in steering the network's direction.
Airdrop Eligibility Criteria
Eligibility for the airdrop encompasses a diverse range of users, including long-standing JitoSOL holders, participants in JitoSOL on various DeFi protocols, Solana validators engaged with Jito-Solana MEV, and active users of Jito Network's MEV products.
Token Allocation Breakdown
Of the total supply, 34.3% is dedicated to community growth, with the 100 million tokens for the airdrop sourced from this pool. Other allocations include 25% for ecosystem development, 24.5% supporting core contributors, and 16.2% for investors, subject to a gradual three-year unlocking period.
Claiming the Airdrop
Jito Network plans to facilitate the eligibility check for the JTO token airdrop on their website. Additionally, validators and searchers will access a Command Line Interface (CLI) to claim their airdrop once the window opens.
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This bold move by Jito to introduce the JTO governance token and distribute a substantial portion to past contributors signals a new era of community-driven governance within the Solana ecosystem. It not only rewards involvement but also invites active participation in shaping the network's evolution.