According to Foresight News, Jito Labs, a Solana ecosystem MEV infrastructure developer, has introduced its governance token, JTO. The token will be used to help manage the Jito network, aiming to enable community members to have a direct impact on the network's decisions and direction. This includes setting fees for the JitoSOL staking pool, updating delegation strategies by controlling StakeNet program parameters, managing the treasury of JTO tokens held by the DAO and fees generated by JitoSOL, and contributing to the ongoing development and improvement of Jito protocols and products.
The total supply of JTO tokens is 1 billion, with 59.3% allocated to the foundation. Of this, 10% will be airdropped, 24.3% will be directly controlled by token holders through Realms, and the remaining 25% will be donated to the foundation to fund and lead large-scale strategic relationships.