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What is Jito Crypto? – Forbes Advisor Australia
Jito has launched his governance tokensJTO, in December 2023 via an airdrop of at least 4,900 tokens each to approximately 10,000 cryptocurrency addresses belonging to users of its liquid staking token JitoSOL, in recognition of their contributions to the growth of the network.
The airdrop represented 10% of the total supply of JTO coins, which is one billion. An additional 24.3% of tokens allocated to support community growth are controlled via the project’s decentralized autonomous organization (DAO). The remaining tokens are allocated to investors, the Jito team, and to fund ecosystem development.
Criticisms of MEV include that it reduces the fairness of exchanges and impacts the security and performance of blockchains.
JTO token holders can contribute to key decisions about the future of the network, including setting staking fees, how tokens are spent in the treasury (held by the DAO), and the ongoing development of the protocol.
On its first day of trading JTO saw over US$1.1 billion in trading volume. It reached an all-time high of just over $US6 on launch day, but soon after changed hands at around $US2.50-$US3.50. The token’s value dropped to around $US1.50 in early January 2024.
In parallel with a broader cryptocurrency market rally in early 2024, the JTO token saw a surge in value between March and May, rising to around $US5 at one point. It has since been on a decline and was trading at $US2.13 at the time of writing. The coin currently has a market cap of $US226 million, with around 123 million tokens available for trading.