Solana-based DeFi platform Jito has revealed plans to introduce its governance token, JTO, enabling community members to participate in collective decision-making for the liquid staking protocol.
The announcement on Monday outlined the initiation of a foundation in the Cayman Islands to oversee Jito, which will airdrop 100 million JTO tokens to the community out of a total of one billion tokens. Early Jito users, including JitoSOL holders, Solana validators running Jito Solana MEV clients, and users of Jito’s MEV services, will be eligible for the airdrop.
The JitoSOL staking token, with over 6.7 million SOL (approximately $372 million) in total volume locked, allows holders to earn Jito Points by maintaining the tokens in their wallets. The JTO airdrop, based on user activity until November 25, has no specified timeframe. The remaining 250 million JTO will be retained by the foundation, and around 162 million will be allocated to investors.
The remaining funds will support core contributors, ecosystem development, and community initiatives. Similar to other Solana protocols, Jito joins the trend of DeFi platforms like Pyth and Jupiter conducting airdrops to introduce tokens for their respective ecosystems. The PYTH token has seen a 15% increase this week, while JUP has experienced a 37% decrease in the same period, according to CoinGecko data.