The Solana-based crypto project Jito appoints 17 governance delegates
Jito, a crypto project built on the Solana blockchain, has announced the appointment of 17 new delegates to its governance. The delegates include individuals from Coinbase Cloud, the Solana Foundation, and members of the Jito community. The Jito Foundation has allocated 12 million JTO tokens as cumulative voting power for these delegates. This represents 10% of the circulating supply of JTO tokens. The selection process for the delegates considered factors such as alignment with the future of the Jito network, independence from the Jito team, participation in governance, and expertise in the field. The delegates will use their voting power to shape the future direction of the project through the governance forum.
Jito: A liquid staking platform on Solana
Jito is a liquid staking project developed on the Solana blockchain. It allows users to stake their SOL tokens and earn JitoSOL, which can be used to optimize profits by receiving MEV rewards. The project currently has a Total Value Locked (TVL) of over $868 million. It ranks fourth in the Top DeFi Projects on Solana Blockchain with 2.65k UAW. The Jito (JTO) token has a total market capitalization of over $250 million and is ranked 194th in the overall crypto ranking. The current price of JTO is $2.14, showing a 20% increase in the last seven days but a 20% decrease compared to a month ago.
Leo Nomist emerges as a maestro harmonizing the roles of crypto analyst, tenacious researcher, and editorial virtuoso, creating an unparalleled symphony of insight. Amidst the intricate world of digital currencies, Leo’s perspectives resonate like finely tuned chords, capturing the attention of curious minds from diverse horizons. His talent for deciphering complex threads of crypto intricacies blends seamlessly with his editorial finesse, translating intricacy into a captivating composition of understanding.