JTO is the governance token of the Jito Network, a Solana liquid staking service provider that features an open-source Solana validator client, enabling stakeholders to earn Solana staking rewards and capture MEV through its MEV software suite.

JTO empowers token holders to make critical decisions that shape the future of the Jito Network, allowing it to continue evolving and thriving based on the needs of its users and the broader Solana ecosystem. These decisions and initiatives may include:
* Setting fees for the JitoSOL staking pool
* Authorizing strategies for parameter updates in the StakeNet program through control
* Managing the JTO treasury held by the DAO and fees generated from JitoSOL
* Contributing to ongoing development and improvements of Jito’s protocols and products.

The Jito Network has become a significant contributor to the Solana ecosystem through its JitoSOL liquid staking pools and its suite of MEV products.

Users can swap SOL for JitoSOL. In return, holders can maintain SOLs liquidity and DeFi opportunities while earning staking rewards. JitoSOL uniquely offers additional rewards to its holders related to transaction revenue from MEV extraction on Solana.

Maximum Extractable Value (MEV) describes the profit opportunity attributed to the specific order of transaction execution. For example, a large swap on Orca can drop the pool price below that of Raydium or Serum. Traders will rush to profit from the spread, which is considered MEV.

The Jito Foundation was established to minimize the negative impacts of MEV, fairly distribute profits, and increase transparency. Jito released an open-source validator client aimed at creating a competitive market for MEV extraction. The client enables auctions within each block for the chance to capture that block’s MEV. Traders submit bids, and the highest bidder within each block secures the available MEV.