$0.4333

JTO is the governance token of the Jito Network, a project that contributes to the Solana ecosystem. Its main offerings include a liquid staking pool called JitoSOL and a suite of products related to maximum extractable value (MEV). By exchanging SOL for JitoSOL, users can keep their assets liquid and usable in decentralized finance while still earning staking yields. Additionally, JitoSOL holders receive extra rewards derived from transaction fees linked to MEV activities on Solana.

MEV refers to profits that arise from the order in which transactions are processed. For instance, a large trade on one exchange might create a temporary price difference compared to another, and traders can exploit this gap through arbitrage. The Jito Foundation aims to reduce the harmful effects of MEV, distribute its profits fairly, and improve transparency. To achieve this, Jito has released an open-source validator client that establishes a competitive auction system for MEV within each block. Traders place bids, and those with the highest bids gain the right to capture the available MEV for that block.