Jito launched its governance token, JTO, in December 2023 via an airdrop of at least 4,900 tokens apiece to around 10,000 crypto wallet addresses belonging to users of its liquid staking token JitoSOL, in recognition of their contribution to the network’s growth.

The airdrop represented 10% of the total supply of JTO coin, which is one billion. A further 24.3% of tokens allocated to support community growth are controlled through the project’s decentralised autonomous organisation (DAO). The remaining tokens are allocated to investors, the Jito team and to fund ecosystem development.

Criticisms of MEV include that it reduces the fairness of trades, and impacts the security and performance of blockchains.

JTO token holders can contribute to key decisions about the future of the network including setting staking fees, how to spend tokens in the treasury (held by the DAO), and the ongoing development of the protocol.

On its first day of trading JTO saw more than $US1.1 billion in trading volume. It reached an all-time high of just over $US6 on the day of launch, but was changing hands at around $US2.50 to $US3.50 shortly after. The token’s value fell to around $US1.50 by the start of January 2024.

Alongside a broader crypto market rally in early 2024, the JTO token experienced a surge in value between March and May, rising to around $US5 at one point. It has been on the decline since and at the time of writing was trading at $US2.13. The coin currently has a market capitalisation of $US226 million, with around 123 million tokens available for trading.



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