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Jito Foundation Launches JTO Token To Manage Solana-based Liquid Staking Protocol

The Jito Foundation is introducing a governance token designed to oversee and stimulate the development of the Solana-based liquid staking protocol. In a statement released on Monday, the company disclosed plans to create 1 billion JTO tokens to facilitate the governance of its Jito Network. This includes tasks such as establishing fees for the JitoSOL staking pool, overseeing revenue, and managing the DAO treasury. Initially, 115 million JTO tokens will be in circulation. The allocation plan designates 34% of the tokens for community growth, 25% for ecosystem development, 24.5% for core contributors, and 16% for investors.

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