We are thrilled to share that Jito (JTO) is now listed on Coinhako!
What are Jito and JTO?
Jito is a decentralized platform that is one of Solana's largest liquid staking protocols, operating on a stake pool model. It provides Maximal Extractable Value (MEV) enhanced liquid staking, allowing users to earn JitoSOL in exchange for Solana committed to on-chain staking.
As the native token of Jito, JTO serves as a governance token that enables community members to vote on the platform's future, including upgrades and fee structures. JTO is also used as a reward, with a portion of Jito's MEV distributed to JTO holders. Holders also enjoy access to exclusive events, airdrops, and new feature previews.
There is a maximum supply of 1,000,000,000 JTO, and it traded for US $5.28 at its peak.
How does Jito work?
MEV refers to the maximum amount of value that can be extracted from a block on a blockchain network. Jito leverages MEV by participating in transaction arbitrage and front-running opportunities on the Solana network. This generates additional revenue for the platform, which is then distributed to JTO token holders.
Jito's MEV-powered liquid staking enables staking rewards, MEV yield, and flexibility while contributing to Solana network security. Here’s how it works:
1. Users deposit their Solana to Jito's platform, giving them permission to use their crypto for staking and MEV capture.
2. Jito pools and delegates the user’s SOL to validators securing the Solana network.
3. Users earn regular staking rewards distributed based on the staked amount.
4. Jito captures MEV gains, which are shared to boost overall earnings.
5. Users receive JitoSOL tokens representing staked Solana, allowing liquidity and dual rewards.
Why does Jito stand out?
Jito is committed to innovating and improving beyond its current offerings by exploring initiatives such as integrating and bridging with more DeFi protocols to offer users greater flexibility and earning potential. There are also plans to further refine Jito's MEV capture techniques through continuous research and development efforts.
Jito Foundation plans to release more JTO tokens and distribute more rewards to promote community engagement. Although Jito hasn't released an official roadmap, the team has hinted at plans to create other potential products for the Solana blockchain, such as the StakeNet protocol, a decentralized Solana stake pool manager that offers secure, transparent validator management and autonomous stake operations.
What can you do with JTO on Coinhako?
JTO will be available for users to trade across all swap pairs on Coinhako.
To gain access to any of these trading pairs, you can either:
- Fund your SGD wallet on Coinhako instantly with PayNow (or any other supported payment method)
- Purchase JTO instantly with Visa / Mastercard
Please note that the sending and receiving of JTO will not be available for this release.
Risk Warning on Digital Payment Token Services
Hako Technology Pte Ltd ("Coinhako") is licensed to provide digital payment token services under the Payment Services Act 2019 (No. 2 of 2019).
The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of a digital payment token ("DPT") service provider.
Before you pay your DPT service provider any money or DPT, you should be aware of the following.
- Your DPT service provider is licensed by MAS to provide DPT services. Please note that this does not mean you will be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
- You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by your DPT service provider.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
- You should be aware that your DPT service provider, as part of its licence to provide DPT services, may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
Visit: Coinhako.com/risk-disclosure for more information.