Jito Labs proposes to transfer all future Block Engine fees and BAM revenue of the Jito Network to the Jito DAO treasury.
This proposal aims to eliminate the current sharing mechanism, allowing the DAO to control all income from the protocol, serving the development of a sustainable value strategy.
MAIN CONTENT
Jito Labs presents the governance proposal JIP-24 to transfer Block Engine fees and BAM revenue to Jito DAO.
The 3% Labs - 3% DAO sharing mechanism will be eliminated if the proposal is approved.
The estimated annual revenue of approximately 15 million USD will be managed and developed by the DAO.
What does Jito Labs propose in JIP-24?
JIP-24 is a governance proposal to transfer 6% of Block Engine fees and all future BAM revenue from the Solana ecosystem to the treasury of the Jito DAO.
The aim is to change the current income sharing mechanism, eliminating the split between Labs and DAO (3% for each side). If approved, Jito DAO will have full control over these funds and implement a sustainable development strategy.
What is the impact of JIP-24 on revenue control?
Through JIP-24, all revenue from Block Engine fees and BAM will be focused on the Jito DAO instead of being shared between the DAO and Labs.
This helps increase the authority and financial autonomy of the DAO, allowing them to invest and develop long-term plans to increase value for the community and the protocol.
Concentrating revenue in the DAO will promote sustainable development and value-adding strategies in the future.
Excerpt from PANews report, August 2024
How is revenue estimated and how will the funds be utilized?
Managers estimate that if the proposal is implemented, the DAO will manage approximately 15 million USD in annual revenue from fees and BAM.
This money will be given to the Cryptoeconomics SubDAO to develop value return plans, enhance revenue generation, and benefits for the members of the ecosystem.
How do the revenue sharing mechanisms before and after the proposal differ?
Old mechanism Proposal mechanism JIP-24 Share 6% Block Engine fees: 3% for Labs, 3% for DAO 6% Block Engine fees and all BAM revenue belong entirely to the DAO Control of profits is distributed between Labs and DAO The DAO exclusively manages and allocates this revenue
Frequently Asked Questions
What is the main goal of JIP-24?
The proposal aims to concentrate all Block Engine fees and BAM revenue into the Jito DAO treasury, increasing financial control for the DAO.
How does the transfer of this revenue impact the Jito DAO?
The DAO will have the authority to manage all revenue sources, enabling them to develop more effective and sustainable value-adding strategies.
What is the estimated annual revenue from this proposal?
Approximately 15 million USD in revenue is expected to be focused on the DAO annually.
What role does the Cryptoeconomics SubDAO play in the proposal?
This SubDAO will use funds to build value return strategies and develop the economy for the ecosystem.
How will the JIP-24 proposal eliminate the old sharing mechanism?
Eliminating the 3% Labs - 3% DAO sharing mechanism, thus the DAO controls all related revenue.
Source: https://tintucbitcoin.com/jito-kien-nghi-chuyen-phi-ve-dao/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news in the cryptocurrency market and not miss any important information!
