The Bitcoin market lists Jito (JTO), a token that generated US$1.5 billion with its global launch.
Mercado Bitcoin (MB), Latin America’s largest digital asset platform, announced this Friday (15th) that it will list utility token Jito (JTO) on its platform.
Since its global launch on December 7, the token has already recorded high trading volume, generating US$1.5 billion on the first day of trading alone. But there is still room for growth. According to CoinMarketCap, in just the 24 hours from December 13 to 14, asset volume increased by almost 100%, exceeding $370 million (1.8 billion reais).
JTO is the governance token of the Jito Network, a liquid staking protocol that allows users to stake SOL tokens that are locked to validators to secure the Solana blockchain.
“Net staking is an important process that ensures network security by locking up assets and generating rewards for users who contribute their tokens. Jito plays an important role in the Solana ecosystem through a liquid staking pool that not only brings greater efficiency to the network, but also rewards users,” explains Fabrício Tota, Director of New Business at MB.
Jito is a decentralized finance (DeFi) project built to create an ecosystem that facilitates decentralized transactions. The main goal is to provide users with a secure and integrated platform to interact with various financial services in the cryptocurrency space.
To achieve this, the project uses stake pools to decentralize the network and uses one or more validator nodes to improve overall performance. This provides a capital-efficient means for users to delegate their SOL tokens. Users who participate in the Jito Stake Pool will then receive JitoSOL, a token that provides liquidity and allows them to increase their assets through staking, and Maximum Extractable Value (MEV) rewards, which are profit opportunities derived from executing specific order transactions. .
JitoSOL can be traded or used as collateral, similar to how Lido’s staked ether (stETH) product works. Network participants can also use JitoSOL to vote on proposals regarding staking pool fees, treasury management, and contributions to the ongoing development of the Jito Network.
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