Decentralized finance protocol Jito has announced the launch of an #airdrop program for Solana users. As part of this program, the project will allocate 100 million Jito tokens as rewards for activity.
Users participating in the program can qualify for the reward if they are holders of JitoSOL, validators, or users of the Jito MEV service.
1. $JTO Airdrop Claim Opens Tomorrow! 🗓️
— Jito (@jito_sol) December 6, 2023
The airdrop claim window will open on December 7th, 2023 at 11am ET (Token Generation Date).
Any eligible airdrop recipients will be able to claim their JTO tokens for 18 months, starting on the Token Generation Date. pic.twitter.com/7vRIxdiD3h
After the airdrop announcement and the listing of the Jito token on exchanges, its price surged to $6.01, according to #CoinGecko. However, the Jito token price later dropped to $2. Currently, the token is trading at around $2.82.
Considering the current token price and the number of Jito tokens allocated for the reward, the total amount received by participants will exceed $250 million.
According to #Solscan, users have already received approximately 60 million Jito tokens at the time of writing. However, some participants have expressed dissatisfaction with the reward distribution mechanism, as they believe it has been disproportionate, favoring those who have invested larger amounts in Jito.
Mostly disagree with this $JTO take
— pickle (@Pickle_cRypto) December 5, 2023
The @jito_sol airdrop has purposefully been engineered to be as distributed as possible, both to encourage users of Solana and to prevent whale concentration.
Yes, the sybil situation is not great, I would have been better off splitting my… pic.twitter.com/O3Zi62mjq9
Among the investors in the Jito protocol are Solana Ventures, a venture fund, and Rafael Krachek, co-founder of Solana Labs. The Jito project offers solutions for front-running and arbitrage on the Solana blockchain, enabling users to earn additional profits from blockchain mining.
Overall, the Jito airdrop on #Solana has generated significant interest from the community, but it has also raised questions and criticism towards the project. However, despite this, Jito continues to evolve and offer new opportunities for users on Solana.
