Jito (JTO), short for the Joint Token, is a liquid staking protocol on the Solana blockchain similar to Lido (LDO) on Ethereum. It offers Maximum Extractable Value (MEV) rewards to holders.
Users can stake their Solana (SOL) through Jito’s stake pool and receive JitoSOL, a unique token that provides liquidity and also combines staking rewards with MEV rewards, in return.
This article will take a closer look at the Jito platform to understand what it is and how it functions. We shall also explore the JTO token to learn what purpose it serves on the staking protocol, where to buy the token, make price predictions until 2030, and determine if it is a credible cryptocurrency investment.
So, without further ado, let’s get started.
What is Jito (JTO)?
Jito is considered to be one of Solana’s largest liquid staking protocols and operates on a stake pool model. Users are offered JitoSOL tokens in exchange for the SOL they deposited on the platform, which is delegated for on-chain staking.
It brings Maximum Extractable Value (MEV) powered liquid staking to Solana, which allows users to earn both staking rewards and MEV yield on the SOL they have staked.
The goal of the platform is to create a mutually beneficial system where all participants can gain from the inefficiencies of the Solana ecosystem.
How Does Jito (JTO) Work?
Jito makes use of stake pools as a mechanism to decentralize the Solana blockchain and enhance its overall performance.
The stake pool comprising one or more validator nodes offers an efficient way for users to delegate their SOL. For their participation in the stake pool, users receive JitoSOL tokens in return.
JitoSOL is a unique staking token that offers holders an opportunity to grow their assets through staking and MEV rewards. MEV represents profits derived from the execution of a specific order of transactions.
The Jito protocol is designed to optimize capital efficiency through integration with DeFi platforms. JitoSOL holders can generate income from validators and simultaneously accumulate interest through lending protocol or yield farming.
To ensure its security, Jito audits the entire platform and also operates on a non-custodial basis. This means that even if the platform ceases one day, holders retain total control over their deposited SOL and accrued rewards.
Jito manages risk associated with validator selection and fees through a multi-signature operation. This means that any changes to its protocol require agreement from a majority of the founding team.
Moreover, staking pools like Jito contribute to making Solana more decentralized. The pools distribute the stake among numerous validator nodes, with each pool employing its own set of validator requirements and delegation tactics.
What is the Joint Token (JTO)?
JTO or Joint Token is the governance token of Jito that allows community members to participate in the staking protocol’s decentralized autonomous organization (DAO) and vote on critical decisions for Jito’s growth and development.
Governance aside, JTO has many other uses on Jito, such as:
- JTO holders get a portion of the MEV and get to enjoy additional gains captured by the Jito Block Engine
- JTO holders could get access to special JTO-only staking pools with potentially higher rewards
Jito (JTO) Price Prediction: 2024, 2025, 2026, 2027, 2028, 2029, 2030
At the time of writing, JTO is trading at $4.41 – up 36% in the last 24 hours.
Based on its current valuation, JTO is predicted to hit a minimum price of $4.12 and a maximum price level of $4.71 in 2024. The average trading price for the token is expected to be around $4.28 this year.
After analyzing JTO prices from previous years, it is assumed that in 2025, the minimum price for Jito will be around $6.29 while the maximum price expected for the token may be around $7.26. The average trading price for JTO next year is estimated to be $6.46.
By 2026, Jito is forecasted to trade within a minimum and maximum price range of $8.86 and $10.82, respectively. The average trading price for JTO during that year is expected to be $9.11.
In 2027, the average trading cost for JTO is expected to be around $13.24. The minimum price Jito can hit during the year might be $12.79, while its maximum rate is assumed to be $15.14.
In 2028, JTO is expected to trade within a minimum price of $18.95 and a maximum price of $22.66. The average trading cost for Jito during that year is assumed to be $19.61.
By 2029, the maximum price JTO is expected to reach is $33.49, while the minimum rate it could hit is thought to be $27.24. The average trading price for Jito during the year is estimated to be $28.22.
In 2030, Jito is forecast to trade within a price range of $41.22 at its lowest and $47.61 at its highest. The average trading price for JTO during that year is expected to be $42.63.
Where to Buy Jito (JTO)?
JTO tokens can be purchased and traded on the following exchanges:
Is Jito a Credible Cryptocurrency Investment?
Jito is a liquid staking protocol that presents a compelling alternative to traditional staking on the Solana blockchain. By offering liquidity, enhancing rewards through MEV, and access to DeFi opportunities on Solana, Jito unlocks the full potential of users’ staked SOL.
Despite being relatively new to the liquid staking market, Jito has put pressure on other key players in the sector, so much so that prominent Ethereum liquid-staking protocol Lido (LDO) has ended its product on Solana due to increased competition.
Jito does have the potential to play a vital role in shaping the future of staking on Solana, and probably other blockchains. All things considered, I can fairly say that Jito and JTO are credible blockchain and cryptocurrency projects to invest in.
However, as is the case with every other cryptocurrency, JTO is also prone to extreme price fluctuations, therefore, it is crucial to do your research before making an investment decision regarding Jito.
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