Jito Network is a protocol operating on the Solana Blockchain. This protocol includes the JitoSOL liquid stake pool, which contributes significantly to the Solana ecosystem, and a collection of Maximal Extractable Value (MEV) products. Users can exchange their SOL for JitoSOL, maintaining access to SOL’s liquidity and decentralized finance (DeFi) opportunities while also earning rewards from the staking process.
MEV refers to profit opportunities dependent on transaction order. For example, a large swap pool on Orca could drive down prices on Raydium or Serum. Investors will race to profit from this price difference, which will be considered MEV arbitrage.
The Jito Foundation was established to minimize the negative impacts of MEV, fairly distribute profits, and increase transparency. Jito has released an open-source validator client designed to create a competitive market for extracting MEV through auctions in each block.
JTO coin is the governance token of the Jito Network. JTO coin holders make significant decisions to shape the future of the Jito Network to meet the needs of its users and the broader Solana ecosystem.
The supply of JTO coin is limited to 1 billion units. At the time of writing this article, the circulating supply of JTO coin was reported to be 115 million units.
JTO coin can be securely purchased and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. JTO coin was listed on Binance on December 7, 2023, and is available for trading in JTO/USDT, JTO/FDUSD, JTO/TRY pairs.