About Jito (JTO)
Jito Network contributes to the Solana ecosystem with its JitoSOL liquid staking pool and a range of MEV (Maximum Extractable Value) products. It allows users to convert their SOL into JitoSOL, providing them with the benefits of SOL’s liquidity and DeFi capabilities, along with additional yields from staking. Uniquely, JitoSOL also rewards its holders with extra earnings from transaction fees generated through MEV activities on Solana.
MEV refers to the potential profits that arise from the specific sequencing of transactions. The Jito Foundation was established to mitigate the adverse effects of MEV. It aims to distribute MEV profits fairly and enhance transparency in the process. Jito has released an open-source validator client intended to foster a competitive environment for MEV extraction. This client introduces an auction system within each block, allowing traders to bid for the right to extract MEV from that block. The highest bidder in each block then gets the chance to capitalize on the MEV opportunities.
JTO is the native token in the Jito Network, empowering token holders to make crucial decisions that guide the network's evolution and ensure its relevance to both its users and the broader Solana ecosystem. Token holders have several responsibilities, including setting fees for the JitoSOL staking pool, adjusting delegation strategies by managing parameters of the StakeNet programs, overseeing the DAO's treasury of JTO tokens and the earnings from JitoSOL, and contributing to the continuous enhancement of Jito’s protocols and products.
The current price of JTO is available and updated in real time on Binance.
