It’s halal,
What is Jito (JTO)?
Jito (JTO) is the governance token of the Jito Network, a protocol offering liquid staking and MEV (Maximal Extractable Value) extraction functionalities on the Solana blockchain. JTO incentivizes users and fuels various aspects of the Jito ecosystem.
Key Features of Jito (JTO)
- Liquid Staking: Jito allows users to stake their SOL tokens and receive JitoSOL, a liquid staking derivative representing staked SOL. JitoSOL holders maintain liquidity while earning staking rewards.
- MEV Extraction: Jito optimizes transaction ordering to capture MEV, a form of profit from block production on Solana. These MEV rewards benefit JITO token holders and the overall Jito ecosystem.
- Jito Stake Pool: JTO serves as the governance token for the Jito Stake Pool, the largest liquid staking pool on Solana (data according to CoinMarketCap).
Uses of Jito (JTO) Token
- Governance: JTO token holders can participate in Jito’s governance process, voting on proposals that affect the protocol’s development and future.
- Staking Rewards (Potential): JTO holders might receive staking rewards in the future through protocol design (not fully confirmed by CoinMarketCap).
- Discounted Fees (Potential): JTO holders might enjoy reduced fees on certain Jito Network services in the future