Token

Solana

Million

Read

The Solana-based DeFi platform Jito has taken a significant step in decentralized governance by introducing its new governance token, JTO. Announced on Monday, this <a rel="nofollow" href="https://www.jito.network/blog/announcing-jto-the-jito-governance-token/">initiative</a> marks a crucial phase in Jito’s development, focusing on empowering its user base with decision-making capabilities. This move aligns with the growing trend of decentralized platforms leveraging governance tokens for community-driven development. 
<h2 id="100-million-tokens-to-empower-users">100 Million Tokens to Empower Users</h2> 
Central to this development is the airdrop of 100 million JTO tokens. This strategic distribution targets a wide range of participants within the Jito ecosystem, encompassing JitoSOL holders, Solana validators who are part of the Jito Solana MEV clients, and users of Jito’s MEV services.&nbsp; 
The Jito Foundation, established in the Cayman Islands, oversees this process, ensuring a fair and transparent <a href="https://coingape.com/cardano-ada-holders-gears-up-for-rumored-midnight-airdrop/">distribution</a> to its community. JitoSOL, the platform’s staking token, boasts an impressive total volume of over 6.7 million SOL, valued at $372 million. 
<h2 id="snapshot-and-future-plans">Snapshot and Future Plans</h2> 
The foundation took a critical snapshot on November 25, which will serve as the basis for the airdrop, considering user activity up to that date. However, Jito has yet to reveal a specific timeframe for the <a href="https://coingape.com/justin-sun-announces-major-airdrop-after-htx-poloniex-hacks/">completion</a> of the airdrop. Beyond this airdrop, the foundation will retain 250 million JTO tokens, with 162 million allocated to investors and the remainder dedicated to core contributors, ecosystem development, and other community initiatives. 
<h2 id="comparative-airdrops-in-the-solana-ecosystem">Comparative Airdrops in the Solana Ecosystem</h2> 
Jito’s move comes in the wake of similar strategies by other Solana protocols. For instance, the Pyth network <a href="https://coingape.com/pyth-network-pyth-maintains-bullish-sentiment-amid-impressive-price-surge/">recently</a> conducted its airdrop, witnessing a robust initial market capitalization for its PYTH token. Meanwhile, JUP, another Solana-based token, has shown variable performance over the past week.&nbsp; 
These developments highlight the dynamic and ever-evolving nature of the DeFi space on the Solana blockchain, with governance tokens becoming a standard tool for fostering community involvement and platform growth. 
Read Also: <a href="https://coingape.com/hong-kong-police-investigate-hounax-in-massive-crypto-scandal/?utm_source=cgtelegram">Hong Kong Police Investigate Hounax in Massive Crypto Scandal</a> 
The post <a rel="nofollow" href="https://coingape.com/jito-launches-jto-token-airdrop-for-its-solana-defi-community/">Jito Launches JTO Token Airdrop for Its Solana DeFi Community</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

Jito Launches JTO Token Airdrop for Its Solana DeFi Community

목차

Coingape News Media

2023년 11월 27일에 게재된 다른 기사

Shiba Inu SHIB Price Prediction for December 1st

Chainlink Analyst Insists LINK ‘Still Looking Solid’ Despite Pullback Scare, Points to the Main R...

Bitcoin Price Holds Above $37,000 And Widens Its Range

Blast TVL reaches $570M as Japanese crypto VC reveals $5M investment

American Cancer Society leverages Gitcoin for decentralized open-source cancer research funding

Hong Kong Police Investigate Hounax in Massive Crypto Scandal

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!