There has been a surge of new tokens in the Solana ecosystem, with the JTO token as a new addition, announced by the Jito Foundation. On the 8th of December, 2023, the much-awaited airdrop worth about $165 million was launched for users to claim.

The token opened for $1.20 and began an upward surge, as seen on Solana-powered decentralized platforms. About 90 million JTO governance tokens are up for grabs.

JTO

JTO is Jitosol’s governance token. According to their official website, “JTO token is the governance token for the Jito Network, designed to decentralize decision-making within the ecosystem. It allows community members to participate in shaping the network's future by voting on key operational and strategic decisions.”

JitoSOL

JitoSOL is a Liquid Staking Token (LST) on Solana with one the largest growth rates with a Total Value Locked of $6.8 million SOL. The JTO token was launched to formalize governance by enabling token holders to make key decisions that form the core of the Jito Network.

Other decisions token holders can make include setting fees for the JitoSOL stake pool, managing the treasury of JTO tokens held by the DAO, and contributing to the continuous development and improvement of Jito’s products.

JTO Airdrop

10% of JTO’s token allocation will be airdropped, which equates to $10 million. The eligibility of users for the airdrop has been determined by users' contribution to Jito’s development over time. Users in this category include long-term JitoSOL holders, users engaged with JitoSOL on various DeFi platforms, Solana validators operating the Jito-Solana MEV client, and searchers actively using Jito Network’s MEV products.

Airdrop Eligibility

JTO’s airdrop is “backward-looking”. The snapshot for airdrop eligibility was taken on the 25th of November, 2023. Users can verify their eligibility status for the airdrop on Jito Network’s official website. Jito Foundation will share further information on the eligibility checker and airdrop claim tools.

Validators and searchers will also be provided with a Command Line Interface (CLI) to engage with once the airdrop claim window opens.

All users are advised to avoid potential scams and not engage with any websites claiming to be Jito unless they have the Jito.network domain.

Good luck to all eligible JitoSOL holders!

Cover Image / Jito.Network