Jito Foundation, a supporter of a Solana-based liquid staking protocol, is gearing up to launch a governance token, JTO. This move is designed to strengthen the management and evolution of the Jito network. By introducing the JTO token, the foundation aims to give community members significant influence over network decisions and trajectory. Jito Labs, responsible for building infrastructure that mitigates the negative impact of maximum extractable value (MEV) on Solana, sees this launch as crucial for the community.
Airdrop announced: Token distribution and management
With a total supply of 1 billion JTO tokens, the foundation presents a strategic plan for network distribution and management. The initial circulation will include 115 million JTO tokens. The distribution plan allocates approximately 34% of tokens for community growth, 25% for ecosystem development, 24.5% for key contributors, and the remaining 16% for investors. The token’s role will involve setting fees for the JitoSOL staking pool and overseeing DAO revenue and treasury.
In a gesture acknowledging their contributions, the Jito Foundation announced that 10% of JTO tokens will be distributed as an airdrop to community members. This initiative aims to recognize their role in jumpstarting the network and ensure their active participation in governance from the outset. Community members are encouraged to stay informed about airdrop details.