🔔Jito Foundation Reveals Major Updates in JTO Token Economics 🍀
The Jito Foundation announced a series of significant updates to the economics of its JTO token, which included four main points:
1️⃣ Token Buyback: The foundation completed its first round of buybacks worth $1 million, executed through four transactions over ten days. It also confirmed its intention to continue the TWAP buyback strategy, while exploring additional mechanisms such as auctions to support automatic value accumulation.
2️⃣ Increase in DAO Fees: The proposal JIP-24 was approved, which doubled the DAO block engine fees to enhance revenue.
3️⃣ JTO Economics Hub: The foundation launched a dedicated page as a comprehensive information center to track developments in the economics of the token.
4️⃣ Investor Engagement: The foundation held its first conference call dedicated to JTO investors to enhance transparency and community engagement.
With these steps, the Jito Foundation aims to enhance the sustainable value of the JTO token and solidify its position in the ecosystem.