Jito announced to launch governance token JTO and airdrop part of the supply to past users. The JTO token will have total supply of 1 billion, 10% of which will be airdropped to users who have contributed to the Jito network's development. The snapshot has been taken on Nov.25.
Jito is now the second largest protocol on Solana by TVL. It is an infrastructure protocol aiming to minimize the negative impact of MEV (Maximal Extractable Value). The protocol also has a SOL liquid staking token called JitoSOL.
JTO token will let holders participate in key decision of the protocol, including setting JitoSOL stake pool fees, updating delegation strategies, managing the protocol treasury.
JitoSOL holders, users engaging with JitoSOL on various DeFi protocols, Solana validators operating the Jito-Solana MEV client, and searchers utilizing Jito's MEV products, are sone of the users eligible for the airdrop.
Community members can soon check the airdrop eligibility on jito.network.
Liquid Staking Derivatives (LSD)