- JTO is the governance token of the Jito Network. - Jito Network is a major contributor to the Solana ecosystem through its JitoSOL liquid staking pool,and its collection of MEV products. - Users can exchange their SOL for JitoSOL. - In return,holders maintain SOL’s liquidity and #DeFi opportunities while earning yield from staking. - JitoSOL uniquely provides its holders with additional rewards from transaction revenue associated with MEV extraction on Solana. - Maximum extractable value MEV describes profit opportunities attributable to the specific order of transaction execution. - For example,a large swap on Orca can lower the pool’s price below that of Raydium or Serum. - Traders will race to profit from that price difference and this arbitrage is considered MEV. - The Jito Foundation was created to minimize the negative impacts of MEV,equitably distribute the profits and increase transparency. - Jito published an open source validator client designed to create a competitive market for MEV extraction. - The client enables auctions within each block for the opportunity to capture that block’s MEV. - Traders submit bids,and the highest bidders within each block can harvest available MEV..
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