Name : Jito (JTO)
JTO Price : $3.64700 +6.23%
Consensus Mechanism : Token
Volume: 148,861,756
Market Cap: 442,630,351
Shariah Judgement
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Last Screening: Q4 2023
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Overview
Jito is a decentralized Solana-based protocol known as the "Jito Network," offering a liquid staking service aiming to decentralize and enhance the performance of the Solana Blockchain. Users can stake SOL to validators through Jito, earning a unique liquid staking token, JitoSOL, representing accumulated validator rewards and tips. The Jito Stake Pool facilitates staking with Solana tokens, granting users JitoSOL tokens, which uniquely accrue value from both staking and MEV rewards. Jito's liquid staking token promotes capital efficiency through DeFi integrations, allowing users to earn yields from validators while participating in lending protocols or yield farming. Additionally, Jito features an automated system, Stake Bot (Kobe), inspired by Solana's Stake-o-matic, which manages stake delegation to validators, contributing to the network's decentralization. The Jito Foundation's overarching goal is to optimize yield for JitoSOL holders while enhancing the overall performance of the Solana network.
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