Jito Network is a protocol built on the Solana Blockchain. The protocol stands out with its JitoSOL liquid staking pool and Maximal Extractable Value (MEV) product offerings. Jito Network makes a significant contribution to the Solana ecosystem with what they offer. In this guide, you can find answers to many questions such as what Jito listed on Binance is, and where and how to buy JTO coin.
What is Jito?
Jito offers users who want to access decentralized finance (DeFi) opportunities the ability to exchange their SOL for JitoSOL. Users who increase their liquidity through this process receive additional rewards in addition to the gains from the staking process.
JitoSOL stands out by providing users with additional rewards from the income generated from MEV extraction operations on Solana. MEV refers to profit opportunities that can arise during the execution of certain transactions. For example, a large swap pool at Orca may drop the price to Raydium or Serum, and investors can compete to take advantage of this price difference.
The Jito Foundation aims to minimize the negative effects of MEV, distribute profits fairly, and increase transparency. Jito aims to create a competitive market for MEV extraction by publishing an open-source validator client. The client conducts auctions to capture the MEV in each block, and investors can bid in these auctions to collect the available MEV.
JTO coin is the governance token of the Jito Network. JTO coin holders make decisions to shape the future of the Jito Network and contribute to the development of the protocol. These decisions include determining the fees of the JitoSOL liquid staking pool, controlling the parameters of StakeNet programs, and managing the JTO coin treasury held by the DAO. The circulating supply of JTO coin, which has a total supply limited to 1 billion, was reported to be 115 million at the time of writing this guide.
Where to Buy JTO Coin?
JTO coin can be securely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. JTO coin will be available for trading on Binance with JTO/USDT, JTO/FDUSD, and JTO/TRY trading pairs starting from December 7, 2023.
To buy JTO coin, you first need to become a member of Binance. After completing the membership process, cryptocurrency or fiat money such as Turkish Lira needs to be transferred to the Binance wallet. Once the transfer is complete, JTO coin can be purchased on the aforementioned three pairs.
To make a purchase from the JTO/USDT trading pair, you need to go to the interface of this trading pair. After entering the amount to be purchased in the limit tab of the trading pair interface, the purchase is completed with a Buy JTO order.
