Jito JTO

1. Summary

Ranks

Liquidity

99

Developer

-

Social

11

Momentum (beta)

48

Stack Rank™

-

Price

$3.19 -1.5%

Market Cap

$875.53M (#117)

Supply

124.69M / 1.00B

Tags

DeFi Solana Ecosystem Liquid Staking Governance Tokens Multicoin Capital Portfolio Alameda Research Portfolio Delphi Digital Portfolio

More Metrics

Price
52W High price	$4.96
52W High date	4th Apr 2024 (8 months ago)
All Time High (ATH) Date	7th Dec 2023 (1 year ago)
ATH Price	$6.01
% From ATH	-60.82%
All Time Low (ATL) Date	8th Jan 2024 (11 months ago)
ATL Price	$1.45
% From ATL	62.24%

Supply & Trading Volume
Trading Volume (24h)	$65.98M
Total Supply	1.00B
Circulating Supply	124.69M

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Description

Jito

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Jito

Jito is a liquidity staking protocol on the Solana network, increasing staking yields by capturing Maximal Extractable Value (MEV) and reducing congestion on the Solana network. Users can deposit SOL into the Jito platform to receive an equivalent value of JitoSOL tokens. JitoSOL accumulates staking rewards over time. Users can unlock and exchange their JitoSOL for SOL tokens.

JitoSOL and Staking Rewards

The Jito platform allows users to stake SOL, receiving JitoSOL tokens that accrue value from both staking rewards and MEV rewards. This enables users to earn yield while also maintaining capital efficiency via DeFi integrations. JitoSOL holders can earn yield from validators while also accruing interest in lending protocols or yield farming.

Governance Token: JTO

The governance token, JTO, allows community members to have a direct impact on the decision-making and direction of the Jito network. JTO is used for governance, granting holders voting rights to set fees for the JitoSOL staking pool. The initial supply of JTO is 1 billion tokens, with a specific allocation plan for community growth, core contributors, ecosystem development, and investors.

Markets and Participation

As of November 2023, JitoSOL became the largest liquid staking token on Solana, surpassing Marinade. The project has seen significant growth, with increased Total Value Locked (TVL) and a rapidly expanding user base.

Technical and Functional Improvements

To address network congestion issues, Jito has developed its client to eliminate garbage transactions associated with Maximal Extractable Value (MEV). This client encourages validators to run the software, offering rewards to stakers and enhancing overall network efficiency.

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