Solana Staking’s Jito to distribute free unique tokens (airdrop)

Airdrop based on point system

The Jito Foundation has released information related to Solana’s (SOL) major staking pool Jito, its own virtual currency “JTO” and free distribution (airdrop) to users.

Jito is a leading liquid staking protocol on Solana with a TVL (protocol assets under management) of $367 million.

Regarding the reason for launching the JTO token, the company stated that it aims to allow the community to directly influence the decision-making and direction of the Jito network. JTO will be used as a ‘governance token’. become.

• JitoSOL stake pool fee settings
• Manage the safe for fees generated from JTO tokens and JitoSOL held by DAO
• Contribute to the continued development and improvement of Jito protocols and products, etc.

JTO tokenomics

The details of the token (tokenomics) are as shown below. You will be able to check the number of free tokens distributed in the near future.

Source: Jito Network

The total number of JTO issued is 1 billion tokens, and 10% (100 million tokens) of the 34.3% “community development quota” will be donated as free distribution (airdrop) to users.

The terms of the free distribution are determined by the user’s contribution to the development and growth of the Jito Network. This includes Solana validators who are currently using the service, searchers who are actively using Jito Network’s MEV product, etc.” The snapshot for rights acquisition was made on November 25, 2023.

The specific contribution measurement is based on the point system “Jito Points” that was announced in September of this year. For example, if you hold 100 JitoSOL tokens every day, you will be given 100 points every day. Please note that this point system has already ended.

Additionally, 16.2% of JTO (cliff release) will be allocated to investors, and 24.5% (cliff release) will be given to core contributors.

Source: Jito Network

When the SOL price recovers, Solana’s project will continue to distribute free tokens to users in order to revitalize the ecosystem (planned). PYTH tokens were released last week, and Jupiter Exchange will publish a token distribution confirmation page this Friday.

connection: Solana platform “Jupiter” jumps to 3rd place in DEX trading volume Demand soars due to free distribution of PYTH

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