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Jito Network is a protocol operating on the Solana Blockchain. This protocol includes the JitoSOL liquid staking pool and the Maximal Extractable Value (MEV) product collection, both of which make significant contributions to the Solana ecosystem. In this article, you can find answers to many questions such as what is Jito, what is JTO coin, and how to buy JTO coin, all recently listed on the giant cryptocurrency exchange Binance.
What is Jito?
Jito Network is a protocol that operates on the Solana Blockchain. Through the JitoSOL liquid staking pool and the offered maximal extractable value (MEV) product collection, the protocol contributes significantly to the Solana ecosystem. Users can exchange their SOL for JitoSOL and, in return, continue to access the liquidity of SOL and decentralized finance (DeFi) opportunities while also earning rewards from the staking process. JitoSOL provides its holders with additional rewards from transaction revenue associated with MEV extraction on Solana.
MEV, or maximal extractable value, refers to profit opportunities attributed to the specific order of transaction execution. For example, a large swap pool on Orca could drive down the price of Raydium or Serum. Investors will compete to profit from this price difference, which is considered an MEV arbitrage.
The Jito Foundation was established to minimize the negative effects of MEV by distributing profits fairly and increasing transparency. Jito released an open-source validator client designed to create a competitive market for MEV extraction through auctions in each block. Investors can bid in these auctions, and the highest bidders for each block can collect the current MEV.
JTO Coin Review
JTO coin is the governance token of the Jito Network. JTO coin holders make important decisions to shape the future of the Jito Network, ensuring its continued development to meet the needs of its users and the broader Solana ecosystem.
These decisions and initiatives cover various aspects such as determining the fees of the JitoSOL liquid staking pool, controlling the parameters of StakeNet programs to update delegation strategies, managing the JTO coin treasury held by the DAO, and contributing to the continuous development and improvement of Jito’s protocols and products.
The supply of JTO coin is limited to 1 billion units. At the time of writing this guide, the circulating supply of JTO coin was reported as 115 million units.
How to Buy JTO Coin?
JTO coin can be safely bought and sold from Binance, the world’s largest cryptocurrency exchange by trading volume. JTO coin was listed on Binance on December 7, 2023, and is traded in JTO/USDT, JTO/FDUSD, and JTO/TRY trading pairs.
To purchase JTO coin, users need to first become a member of Binance. After completing the registration process, cryptocurrency or fiat money such as Turkish Lira must be transferred to the Binance account wallet. Once the transfer is complete, JTO coin can be purchased in the three aforementioned trading pairs.
To buy JTO/USDT trading pair on Binance, users must first go to the interface of this trading pair. In the limit tab of the trading pair interface, the desired amount to be purchased is entered. After entering the amount, the purchase is completed with a Buy JTO order.
