On November 28, Jito, the liquidity staking protocol on Solana, announced that it will launch the governance token JTO and will airdrop 100 million JTO to the community (accounting for 10% of the total supply). The news attracted widespread attention, as Jito determined that the target groups for the airdrop would be JitoSOL users, Jito Solana validators, and Jito MEV seekers. However, the specific distribution rules and airdrop amount were not disclosed at that time. Now, with the latest official announcement from Jito, we finally know more details.
Token Contract and Distribution Plan
According to information released by Jito this morning, JTO tokens are now minted on the chain, but are currently not officially circulating except for some small-scale test transfers. Judging from the announced distribution plan, JitoSOL users will receive 80% of the airdrop quota (80 million JTO), Jito Solana validators will receive 15% (15 million JTO), and Jito MEV searchers will receive the other 5% (5 million JTO).
It is worth mentioning that Jito emphasized that all past and current core contributors will not be included in the JTO airdrop, including all core contributor addresses that meet the above conditions.
JitoSOL user airdrop details
The airdrop qualifications of JitoSOL users are determined based on the ranking of the Jito points program. Only JitoSOL users with points equal to or exceeding 100 points are eligible for airdrops. In order to ensure a fairer distribution, the Jito Foundation has adopted a graded distribution system for different points levels. This measure is to ensure that users with fewer points can receive more rewards than those distributed in equal proportions, so that more people can Participate in Jito's ecological governance.
The airdrop snapshot starts on January 1, 2023 and ends on November 25, 2023. During this period, there were a total of 9,852 eligible addresses. After anti-witch screening and elimination of core contributor addresses, the allocation criteria for ten levels were finally determined, as shown in the figure below.
Jito Solana Validator Airdrop Details
Jito-Solana validators have played a key role in expanding the network effect of the Jito-Solana client, which currently accounts for 41% of the network's staking weight. A total of 15 million JTO will be distributed to Jito-Solana validators according to the following rules:
Operated the Jito-Solana client between epoch 366 and 536.
Operated the Jito-Solana client between epoch 527 and 536 for at least one epoch.
The distribution of JTO will be based on each validator's share of the total Jito-Solana pledge size, and the time dimension will be weighted for each epoch since the 366th epoch. Ultimately, Jito-Solana validators will have four levels of allocation criteria, as shown in the figure below.
It should be noted that only 50% of the JTO airdropped to Jito-Solana validators can be claimed at the time of token creation, and the remaining 50% will be linearly unlocked within 12 months.
Jito MEV Searcher
The final batch of objects eligible for the JTO airdrop are searchers who have used the Jito MEV search kit, and the total airdrop for this part is 5 million JTO tokens. To qualify for a short bet, Jito MEV seekers must cumulatively invest at least 1 SOL between epoch 366 and epoch 536.
Similar to the allocation method of Jito-Solana validators, Jito MEV searcher addresses that meet the airdrop conditions will be divided into five different levels, among which more active searchers will receive larger allocations. The specific allocation is as shown in the figure below Show.
In addition, only 50% of the JTO airdropped to Jito MEV seekers can be claimed at the time of token creation, and the remaining 50% will be unlocked linearly within 12 months.
Risk warning
Jito officials stated that there will be an 18-month claim validity period after the JTO airdrop is opened, after which unclaimed tokens will be transferred to the Realms wallet in the DAO treasury.
At the end of today's announcement, Jito officials once again issued a risk warning, hoping that community members would be alert to potential fraud. After the airdrop is open, all users are asked to pay attention to whether all websites they visit have domain names and verify whether the token contract is correct before interacting.
Jito officials will not proactively send messages to users or ask users to provide personal information, so please stay vigilant.
Conclusion
Jito's airdrop plan is undoubtedly a major community activity. Through meticulous allocation plans and strict risk control, Jito hopes to attract more users to participate in its ecosystem. For the majority of users, this airdrop is not only an opportunity to obtain tokens, but also an important way to participate in Jito governance and promote ecological development. We hope that all eligible users will seize this opportunity, actively participate, and jointly promote the prosperity and development of the Jito ecosystem.