Jito Unveils JTO Airdrop Eligibility Criteria & Important Details

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1 The Jito Foundation is eager to unveil its JTO governance token enabling the community to take charge.

2 Jito allocated 80% of the JTO airdrop to users who participated in the Jito Points program, 15% to validators, and 5% to MEV searchers.

3 The JITO Foundation is committed to airdropping 10% of the tokens, i.e., 100 million tokens, to Jito community members.

Jito, a Solana-based DeFi protocol, has introduced its new governance token, JTO, to facilitate community governance and manage the network. This marks a significant step towards decentralization, aligning with the broader trend of decentralized platforms embracing governance tokens to empower their user communities with decision-making power.

Source: Twitter

Strategic Token Distribution

The Jito Foundation minted 1 billion JTO tokens to streamline network management tasks and oversee revenue and the DAO treasury. The initial circulation will involve 115 million JTO tokens, with 34% earmarked for community growth, 25% for ecosystem development, 24.5% for core contributors, and 16% for investors.

Who is Eligible for the JTO Airdrop?

Three main groups are eligible for the JTO airdrop JitoSOL Users, Jito-Solana Validators, and Jito MEV Searchers.

JitoSOL Users

These are users who held at least 100 Jito Points as of November 25, 2023. The Jito Points program rewarded users for holding JitoSOL, engaging in DeFi activities, and referring others.

Jito-Solana Validators

These are the validators who operated the Jito-Solana client between epochs 366 and 536 and continue to operate it.

Jito MEV Searchers

These are users who used the Jito Network’s MEV programs and tipped at least 1 SOL cumulatively between epochs 366 and 536. Their contributions and feedback have been invaluable in refining the MEV system.

Claiming Your JTO Tokens

When the airdrop is live, eligible recipients can claim their JTO tokens through the official Jito Foundation website or a dedicated command-line interface (CLI) for validators and searchers. The Jito Foundation will announce via official channels once the airdrop is open for claiming.

Conclusion

Launching the JTO governance token and the JTO airdrop marks a significant step towards decentralization for Jito. The strategic token distribution and airdrop will empower the community to play a more active role in the network’s governance and development. This move aligns with the broader trend of decentralized platforms embracing governance tokens, fostering community involvement, and driving platform growth.

Disclaimer

The information contained in this article is intended for informational and educational purposes only. It should not be construed as financial, investment, or trading advice. Investing and trading involve risk, and you should carefully consider your own circumstances and risk tolerance before making any investment decisions.