Jito Network is a permissionless liquid staking protocol on Solana. It aims to address the adverse effects of MEV (Miner Extractable Value) on Solana. They do so by redistributing MEV profits fairly among stakers.
Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (JTO/USDT – Trade it here) on the Innovation Zone! Check it out now!
What Exactly is Jito Network?
Jito Network is a permissionless liquid staking protocol. It is specifically designed to counteract the adverse effects of Maximum Extractable Value (MEV) on the Solana blockchain. The core objective is to equitably redistribute MEV profits among stakers. Users have the opportunity to stake their SOL tokens with Jito, receiving JitoSOL—a liquid derivative that represents their staked tokens.
Here is how it works. The Jito Stake Pool takes the staked assets and delegates them to MEV-enabled validators. These validators, through transaction re-ordering, arbitrage, and other strategies, generate profits. These profits are then redirected to increase the Annual Percentage Yield (APY) for JitoSOL holders, allowing them to reap the benefits of both staking yields and MEV rewards.
Jito’s innovative approach harnesses MEV, unlocking not only higher earning potential but also liquidity and direct participation in on-chain governance for SOL holders. Therefore, this integration positions Jito Network at the forefront of DeFi innovation on the Solana blockchain.
How Do JTO Tokens Work on the Jito Network?
Jito has a unique approach to staking. It employs stake pools as a tool for decentralizing the network and improving overall performance. These stake pools, which are made up of one or more validator nodes, provide users with a cost-effective way to delegate their SOL tokens. Users receive JitoSOL tokens in exchange for participating in stake pools.
JitoSOL is a token that provides its holders with the opportunity to grow their assets through staking and MEV rewards. MEV, deeply embedded in the blockchain realm, signifies profit opportunities arising from executing specific transaction orders. JitoSOL is intricately designed to optimize capital efficiency through integration with DeFi platforms. By holding JitoSOL, users can generate income from validators and concurrently accrue interest through lending protocols or yield farming. The primary objective of Jito is to maximize returns for JitoSOL holders and enhance the performance of the Solana network.
To ensure the protocol’s security, JitoSOL undergoes a full audit and operates on a non-custodial basis. This ensures that even if Jito were to cease operations, holders retain complete control over their deposited SOL and accrued rewards. Jito addresses potential risks related to validator selection and fees through a multi-signature operation, requiring agreement from a majority of the founding team for any changes.
Furthermore, Solana benefits from stake pools as they contribute to the network’s decentralization. These pools distribute stakes among numerous validator nodes, each with its own set of requirements and delegation tactics. Some pools even mandate validators to be spread across different geographical locations and meet specific performance benchmarks to be part of the validator set.
Jito places a strong emphasis on supporting high-quality network operators, striking a balance between providing high yields for JitoSOL holders and aligning with Solana’s decentralization goals.
How To Claim JTO Airdrops
Jito Network is conducting an airdrop of 100,000,000 JTO tokens to various early users based on a snapshot taken on November 25th, 2023. Eligible participants include users who staked SOL on Jito with at least 100 Jito points, Solana validators operating the Jito-Solana MEV client, and searchers who tipped at least 1 SOL.
Step-by-Step Guide:
- Visit the Jito airdrop claim page.
- Connect your Solana wallet.
- If you meet the eligibility criteria, you will be able to claim free JTO tokens.
At Genesis, 50% of the token allocation is available for claiming. Meanwhile, the remaining 50% will unlock linearly over 12 months. Eligible users have 18 months to claim their tokens. Any unclaimed tokens will automatically be transferred to the DAO treasury’s Realms wallet.
Where to buy JTO Token
You can find JTO Tokens here at MEXC! We are listing JTO/USDT in our Innovation Zone!
What is the Price of JTO Tokens?
The JTO Token is currently trading at MEXC with a live price of $2.89. You can check the live price of their token right here!
How to buy JTO Tokens on MEXC
You can buy JTO Tokens on MEXC by following the steps:
- Log in to your MEXC account. Click on [Spot].
- Search “JTO” using the search bar to see the available trading pairs. Take JTO/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of JTO you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy JTO] to confirm your order. You will find the purchased JTO in your Spot Wallet.
You can find a detailed guide on how to buy JTO Tokens here.
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Meanwhile, check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!
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