Over the past month, SOL’s value has surged significantly, making headlines in the cryptocurrency market. As an LSD protocol on Solana that combines MEV income and staking income, Jito is expected to reshape Solana’s LSD market competition. In the past 30 days, Jito’s total pledged value (TVL) has increased by nearly 70%. It has grown rapidly from less than 5 million US dollars in TVL at the beginning of the year. It has now become the second-ranked TVL protocol in the Solana ecosystem and is expected to redefine Solana. Pledge market structure. Jito’s fundamentals are solid and will be expected to drive up the price of JTO secondary tokens after the market opens.
Recent flashpoints
Jito is currently the largest staking protocol on Solana and the second largest protocol on TVL. JTO tokens will be open for airdrop applications at 12:00 tonight (UTC 16:00), when both Coinbase and Binance will be online. This news will undoubtedly further promote Jito's popularity and influence.
Project introduction: Jito is a Solana-based liquidity staking protocol that allows users to pledge SOL to Jito’s pledge pool, obtain JitoSOL tokens, and enjoy staking income and MEV (maximum extractable value) rewards. Jito's goal is to improve the efficiency, security, and decentralization of the Solana network by leveraging MEV. Jito also launched the JTO token as its governance token, allowing community members to participate in the management and development decisions of the protocol.
Token function
JTO token plays an important role in the Jito ecosystem, and its main functions include staking and governance. Users holding JTO tokens can participate in various decisions of the protocol, thus affecting the future development direction of Jito.
Token economic model: Jito has established a total supply of 1 billion JTO tokens. These tokens will be involved in multiple aspects of the Jito network, including fees for setting up the JitoSOL staking pool, updating StakeNet parameters, formulating agency strategies, monitoring income, and managing the DAO treasury. There will be 115 million JTO tokens in initial circulation. The token distribution plan reflects Jito’s consideration of different stakeholders: approximately 34% of tokens are reserved for community growth, 25% for ecosystem development, 24.5% for core contributors, and 16% for early-stage investments who.
Project Highlights
Highlights of Jito’s projects include investment led by Multicoin Capital and Framework Ventures. The support of these well-known investment institutions has undoubtedly enhanced the market’s confidence in Jito. In addition, Jito is the second TVL-ranked project on Solana and is expected to be listed on Binance and Coinbase, which gives Jito great potential in the market.
Investment institutions: Jito Lab successfully attracted investment from Multicoin Capital and Framework Ventures in August 2022, and received support from Solana Ventures and Solana Labs co-founder Anatoly Yakovenko, raising a total of US$10 million in Series A financing. The support of these investment institutions not only brings funds, but also brings rich industry resources and experience, providing a solid foundation for Jito's development.
Community
Jito's community is highly active, with 25,400 people currently following it on Twitter. Community members come from the United States, India, China, Japan, South Korea and other countries. This diverse community composition has brought Jito extensive international influence. Jito often releases the latest project updates, tutorials and activities in the community, attracting many users who are interested in the Solana ecosystem.
Future Outlook: Jito’s development trajectory, from its initial protocol launch, through the maturity of JitoSOL, to the introduction of the governance token JTO, demonstrates its role as an innovator and market leader. The concept of Jito StakeNet further deepens this image and highlights Jito's pioneering status in promoting blockchain technology innovation and decentralized applications. Jito has huge potential to achieve and promote true decentralization. As its technological innovation continues to advance and its community continues to grow, Jito has the potential to become a model for blockchain technology and decentralized practices. The future of Jito is not only of great significance to the Solana ecosystem, but may also have a profound impact on the broader blockchain field. Driven by Jito, we can look forward to the arrival of a more efficient, transparent, and decentralized digital currency world.
in conclusion
As a rising star in the Solana ecosystem, Jito's innovations in staking protocols and MEV returns have made it extremely competitive in the market. With the launch of JTO tokens and the opening of airdrop applications, Jito's influence will further expand. In the future, Jito is expected to become a market leader in decentralized technology and applications, bringing far-reaching impact to the Solana ecosystem and even the entire blockchain field.