JITO

JTO functions primarily as a governance token within the Jito Network. Holders can:​

Participate in Governance: Vote on proposals that shape the future of the Jito Network, such as protocol upgrades, fee structures, and treasury management.

Influence Delegation Strategies: Decide on parameters for the StakeNet programs, impacting how staking is managed within the network. ​

Manage Treasury Assets: Oversee the allocation and use of the DAO's treasury, including JTO tokens and fees generated from JitoSOL. ​

The Jito Network is developed by Jito Labs, a team specializing in building infrastructure to mitigate the effects of Maximal Extractable Value (MEV) on Solana. Notable contributors include individuals from Coinbase Cloud, the Solana Foundation, and the Jito community. In February 2024, the Jito Foundation allocated 12 million JTO tokens to its initial governance delegates, comprising 17 individuals and projects such as research company Gauntlet, infrastructure platform Chainflow, and marketing agency Flipside. ​

JTO was officially launched on December 7, 2023. The initial distribution included a retrospective airdrop of 100 million JTO tokens (10% of the total supply) to Jito community members. This airdrop consisted of 90 million JTO tokens for immediate distribution and an additional 10 million unlocking over the next year. Eligibility for the airdrop was determined based on users' contributions to the Jito Network's development and growth, with a snapshot taken on November 25, 2023. ​