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About JTO

Jito (JTO) is a cryptocurrency launched in 2023. JTO has a current supply of 1.00Bn with 128.86M in circulation. The last known price of JTO is 2.78 USD and is -0.321127931337 over the last 24 hours. It is currently trading on active market(s) with $121.65M traded over the last 24 hours. More information can be found at https://www.jito.network/.

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JTO Price Statistics
JTO’s Price Today
24h Price Change
-$0.32112793133710.37%
24h Volume
$121.65M51.46%
24h Low / 24h High
$0 / $0
Volume / Market Cap
0.340184230235
Market Dominance
0.01%
Market Rank
#213
JTO Market Cap
Market Cap
$357.61M
Fully Diluted Market Cap
$2.78Bn
JTO Price History
7d Low / 7d High
$0 / $0
All-Time High
$0
All-Time Low
$0
JTO Supply
Circulating Supply
128.86M
Total Supply
1.00Bn
Max Supply
0
Updated Nov 15, 2024 6:18 pm
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JTO
Jito
$2.78
$0.321127931337(-10.37%)
Mkt Cap $357.61M
There's nothing here for now
Solana MEV Startup Jito Labs Suspends Mempool Functionality Amid Sandwich Attacks
Solana MEV Startup Jito Labs Suspends Mempool Functionality Amid Sandwich Attacks
According to Blockworks, Solana MEV startup Jito Labs announced on Friday that it will suspend mempool functionality offered by the Jito Block Engine due to an increased amount of sandwich attacks on the Solana blockchain. MEV sandwich attacks occur when MEV searchers profit from an asset’s price volatility. The searcher jumps ahead of a large purchase order that they know will raise the asset’s price and then sells it immediately following a victim’s purchase, profiting from the user’s swap. Jito Labs’ decision to pause was made after deliberate conversations with the Jito Labs team and key Solana ecosystem stakeholders. The move was met with mixed responses from industry participants. On Ethereum, validators create blocks by collecting transactions from a mempool, a staging area before a block is constructed and confirmed on-chain. Validators can earn additional revenue, referred to as maximum extractable value (MEV), often at the expense of retail traders, based on how these transactions are ordered in the block. Mempools are built into Ethereum by design, but this is not the case for Solana, where the block processor is known ahead of time. To allow validators to capture MEV on Solana, startups like Jito Labs created infrastructure to introduce mempool functionalities. Blockworks research analyst Dan Smith noted that MEV had been the entire growth story for JTO, implying that by suspending mempool functionality, it could struggle to drive value to JTO token holders. Jito’s native token (JTO) serves two main functions: community members participating in governance and holders earning MEV rewards. These rewards are earned through MEV generated and redistributed by the Jito protocol. According to CoinGecko, JTO is trading at $2.72 at the time of this writing, down 1.6% over the past week. Blockworks research analyst Ren Yu Kong said that one party potentially benefiting from this decision is Telegram bot users, who frequently set a high slippage amount to get their swap through but then experience the maximum slippage due to them getting sandwiched. With the removal of Jito’s mempool, this is much less likely to occur. However, Kong notes that without Jito’s mempool, searchers and arbitragers are likely to be incentivized to spam the network, resulting in failed transactions and wasted validator resources. Jito did not respond to Blockworks request for comment before publish time.
Mar 12, 2024 2:33 am

Frequently Asked Questions

  • What is 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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  • What is JTO?

    JTO enables token holders to make key decisions to shape the future of Jito Network so that it continues to evolve and thrive in alignment with the needs of those it serves, and of the broader Solana ecosystem. These decisions and initiatives may include:

    • Setting fees of the JitoSOL stake pool
    • Updating delegation strategies by controlling parameters of the StakeNet programs
    • Managing the treasury of JTO tokens held by the DAO and fees generated from JitoSOL
    • Contributing to the ongoing development and improvement of Jito’s protocols and products
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  • What is the all-time high price of Jito (JTO)?

    The all-time high of JTO was 0 USD on 1970-01-01, from which the coin is now down 0%. The all-time high price of Jito (JTO) is 0. The current price of JTO is down 0% from its all-time high.

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  • How much Jito (JTO) is there in circulation?

    As of , there is currently 128.86M JTO in circulation. JTO has a maximum supply of 0.

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  • What is the market cap of Jito (JTO)?

    The current market cap of JTO is 357.61M. It is calculated by multiplying the current supply of JTO by its real-time market price of 2.78.

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  • What is the all-time low price of Jito (JTO)?

    The all-time low of JTO was 0 , from which the coin is now up 0%. The all-time low price of Jito (JTO) is 0. The current price of JTO is up 0% from its all-time low.

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  • Is Jito (JTO) a good investment?

    Jito (JTO) has a market capitalization of $357.61M and is ranked #213 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Jito (JTO) price trends and patterns to find the best time to purchase JTO.

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