{"id":24773,"date":"2023-11-28T12:03:04","date_gmt":"2023-11-28T12:03:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/jito-foundation-unveils-governance-token-for-solana-mev-development\/"},"modified":"2023-11-28T12:03:04","modified_gmt":"2023-11-28T12:03:04","slug":"jito-foundation-unveils-governance-token-for-solana-mev-development","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/jito-foundation-unveils-governance-token-for-solana-mev-development\/","title":{"rendered":"Jito Foundation unveils governance token for Solana MEV development"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682533362930-bb8c4c6c-ea5f-4886-9340-1dba80c304de-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682533362930-bb8c4c6c-ea5f-4886-9340-1dba80c304de-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682533362930-bb8c4c6c-ea5f-4886-9340-1dba80c304de-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/04\/1682533362930-bb8c4c6c-ea5f-4886-9340-1dba80c304de-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Jito Foundation Launches Governance Token (JTO).<\/li>\n<li>Impactful Solana MEV Mitigation by Jito Labs.<\/li>\n<li>The JTO token will have a total supply of 1 billion.<\/li>\n<\/ul>\n<p>Jito Foundation, the driving force behind a Solana-based liquid staking protocol, is making significant strides with the launch of its governance token, JTO.<\/p>\n<p>This move aims to not only manage the protocol but also foster development in the Solana ecosystem. With a total supply of 1 billion JTO tokens, this initiative seeks to democratize decision-making within the Jito Network, allowing community members to play a pivotal role.<\/p>\n<h2>Empowering Solana\u2019s liquid staking with JTO tokens<\/h2>\n<p>In a bid to address challenges posed by Maximum Extractable Value (MEV) on Solana, Jito Labs, backed by the Jito Foundation, has taken a proactive approach by launching a governance token, called JTO, for the Jito Network.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1. Introducing <a href=\"https:\/\/twitter.com\/search?q=%24JTO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$JTO<\/a>: A New Era of Community-Led Governance.<\/p>\n<p>The Jito Foundation is thrilled to unveil the <a href=\"https:\/\/twitter.com\/search?q=%24JTO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$JTO<\/a> governance token to enable community-driven leadership. <a href=\"https:\/\/t.co\/98lI7Y3NVm\">pic.twitter.com\/98lI7Y3NVm<\/a><\/p>\n<p>\u2014 Jito (@jito_sol) <a href=\"https:\/\/twitter.com\/jito_sol\/status\/1729172532971065626?ref_src=twsrc%5Etfw\">November 27, 2023<\/a><\/p>\n<\/blockquote>\n<p>The Jito MEV network, consisting of validators, has now garnered over 40% of the Solana network\u2019s stake weight. This statistic underscores the practical impact of Jito Labs in mitigating MEV-related issues on the Solana blockchain. Jito\u2019s software enables Solana to run more efficiently and earn MEV rewards.<\/p>\n<p>With a carefully crafted tokenomics model, the Jito Foundation has allocated 34% of the JTO tokens for community growth, emphasizing the importance of grassroots involvement. Additionally, 10% of the tokens are earmarked for an <a href=\"https:\/\/x.com\/jito_sol\/status\/1729172541347094688?s=20\">airdrop<\/a>, a gesture recognizing the vital contributions of community members in bootstrapping the network.<\/p>\n<p>With JTO, users can set fees for the JitoSOL stake pool, update delegation strategies by controlling StakeNet parameters, manage the DAO treasury of JTO tokens and revenue from JitoSOL, and contribute to the enhancement of the Jito Network.<\/p>\n<p>Solana Ventures and Anatoly Yakovenko, co-founder of Solana Labs, are among notable investors in Jito Labs, which successfully raised $10 million in a Series A funding round last year.<\/p>\n<p>This governance token launch by the Jito Foundation aligns with the broader trend of decentralized decision-making within blockchain projects. By involving the community in protocol management and development decisions, the Jito Network aims to strengthen its position within the Solana ecosystem.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/jito-foundation-unveils-governance-token-for-solana-mev-development\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Jito Foundation Launches Governance Token (JTO). Impactful Solana MEV Mitigation by Jito Labs. The JTO token will have a total supply of 1 billion. Jito Foundation, the driving force behind a Solana-based liquid staking protocol, is making significant strides with the launch of [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":24774,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24773"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24773"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24774"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}