Allocation of 12 Million Tokens by Jito Foundation to Governance Delegates from Coinbase Cloud, Solana Foundation, and More

By Theon Barrett Feb 12, 202446Views

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Solana-based Staking Project Jito Announces Initial Governance Cohort

Solana-based staking project Jito has unveiled its initial governance cohort, which includes members from Coinbase Cloud, the Solana Foundation, and the Jito community. The cohort consists of 17 individuals and projects, including research company Gauntlet, infrastructure platform Chainflow, and marketing agency Flipside.

The Jito Foundation will delegate 12 million JTO tokens (worth $23.5 million) of voting power to the cohort, evenly distributed. This represents approximately 10% of the circulating supply of JTO tokens. The goal is to increase governance activity on Solana.

The delegates will utilize their voting power to shape the future direction of the project through its governance forum. Important upcoming votes include the launch of StakeNet, a staking product that monitors validators.

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