Jito(JTO)

Overview

JTO is the governance token of Jito Network, a project built around the Solana ecosystem. Jito Network contributes to Solana through its JitoSOL liquid staking pool and a suite of MEV-related products, allowing users to exchange SOL for JitoSOL. JitoSOL holders retain SOL's liquidity and access to DeFi opportunities while earning staking yield, and they additionally receive a share of transaction revenue associated with MEV extraction on Solana.

MEV, or maximum extractable value, refers to profit opportunities that arise from the specific order in which transactions are executed. For example, a large swap on Orca can push that pool's price below the price on Raydium or other venues, and the arbitrage that traders race to capture from that gap is considered MEV. The Jito Foundation was created to minimize the negative impacts of MEV, distribute the resulting profits more equitably, and increase transparency; it published an open-source validator client that runs per-block auctions in which the highest bidders gain the opportunity to capture that block's MEV.