Jito Allocates 12 Million Tokens to Governance Delegates
Jito, a crypto project built on Solana, has assigned 12 million JTO tokens to its initial governance delegates. The group includes individuals from Coinbase Cloud, the Solana Foundation, and the Jito community. Additionally, the project has named 17 individuals and projects to its governance cohort, such as Gauntlet, Chainflow, and Flipside. This move represents approximately 10% of the circulating supply of JTO tokens.
Public Call Attracts Top Crypto Companies
Jito selected its delegates after issuing a public call, receiving applications from several top crypto companies, service providers, node operators, and development teams. The foundation was thrilled with the response and is honored to have representatives from these influential players in the crypto industry.
New High Water Mark for Solana Governance
Jito aims to set a new standard for governance on Solana with this delegation program. Lucus Bruder, Core Contributor at the Jito Network, expressed hope that the foundation’s initiative will establish an active and engaged governance community on Solana.
Evaluation and Representation of Diverse Opinions
In selecting the delegates, the Jito Foundation considered factors such as alignment with the network’s future, independence from the Jito team, experience in governance participation, and subject matter expertise. Furthermore, the foundation sought to include representatives from various protocols, developers, node operators, and community members to ensure diverse perspectives and representation within the selection.
Guiding Jito’s Future with Voting Power
The chosen delegates will utilize their voting power to shape the future direction of the Jito Foundation. They will participate in the governance forum and will be involved in upcoming votes, including the launch of StakeNet, Jito’s staking product designed to monitor validators.
By
By
By
By