Jito Foundation, a Solana-based staking project, has unveiled its inaugural governance cohort, comprising individuals from renowned entities like Coinbase Cloud, the Solana Foundation, and the project’s own community.
In a recent announcement, Jito named 17 individuals and projects to its governance cohort, which includes notable names such as research firm Gauntlet, infrastructure platform Chainflow, and marketing agency Flipside. As part of this initiative, the Jito Foundation will delegate 12 million JTO tokens, equivalent to approximately $23.5 million in voting power, evenly distributed among the cohort. This allocation represents around 10% of the circulating supply of JTO tokens, as reported by The Block’s Price Page.
Lucas Bruder, a Core Contributor to the Jito Network, emphasized the importance of active governance within the Solana ecosystem. Bruder stated, “Historically, governance on Solana has not been as active compared with other chains. We’re hoping that the Jito Foundation’s delegation program can set a new high water mark for governance on Solana.”
The appointed delegates will leverage their allocated voting power to shape the future trajectory of the project through the governance forum. Key decisions on the agenda include the upcoming launch of StakeNet, Jito’s forthcoming staking product designed to monitor validators.
As Jito Foundation pioneers a robust governance framework on Solana, the initiative underscores a commitment to democratic decision-making and community involvement in driving the project’s evolution. With representatives from industry-leading organizations and dedicated community members at the helm, Jito aims to pave the way for effective governance practices within the Solana ecosystem.