JTO: It is a digital currency belonging to the Jito Network, which is a key driver in the Solana ecosystem via the JitoSOL protocol, a liquidity pool in which assets and the MEV product range can be stored.
The JitoSOL liquidity pool protocol enables users to exchange their SOL tokens. On the flip side, asset holders retain SOL liquidity and DeFi opportunities while receiving returns from staking services.
What is the JTO digital currency project?
Jito Network is a decentralized protocol based on the Solana network that enables users to share SOL token with validators participating in efficient block regulation and receive a liquid storage token (JitoSOL) representing accumulated validator rewards and tips.
DAOs can direct changes to the protocol's source code or related parameters, and anyone can access the Jito network, while the organization maintains a browser-based, accessible dashboard at jito.network.
The Jito platform was established to reduce the negative impacts of MEV, provide fair dividend distribution and enhance levels of transparency. The Jito platform has published an open source validator client designed to create a competitive market for MEV value extraction. This client enables auctions within each block for a chance to capture a MEV specific to that block. Traders submit their bids, so the highest bidders within each block get the opportunity to invest the available MEV.
The JitoSOL Network offers unique additional rewards from transaction returns associated with forward extraction of Maximum Extractable Value (MEV) on the Solana Network.
Maximum Extractable Value (MEV) provides profit opportunities related to the chronological order in which a transaction is executed. For example, a large price difference on the Orca platform can reduce the price of the liquidity pool to levels lower than the price of Raydium or Serum. This prompts traders to take advantage of these price differences, and this is what is expressed in the trading term MEV.
The JTO token enables its holders to make key decisions to shape the future of the Jito network through the governance process, so that it continues to evolve and thrive in keeping with the needs of those it serves, as well as with the broader Solana ecosystem.
These decisions and initiatives include several points, including setting fees for JitoSOL stake pools, updating delegation strategies by controlling StakeNet program parameters, managing the JTO token treasury held by DAOs, as well as fees generated by the JitoSOL network. It also includes contributing to the development and continuous improvement of JitoSOL protocols and products, which are considered key aspects of those decisions and initiatives.
The Jito network explains that paid temporary storage of digital currencies (staking) is distinctive because it helps the user access decentralized liquidity pools via the SOL currency, in addition to keeping the price constant and stable, and finally storing in order to obtain the largest possible MEV value in the liquidity pool. .#JTO #crypto2023
