Jito: 100% of Network Revenue will be used for JTO Token Buyback
BlockBeats News, October 22, Jito officially announced that 100% of the Jito Network revenue will be used for continuous repurchase of JTO tokens, and a $2.5 million repurchase has been executed from August to the present.
Since the passing of JIP-24, 100% of Block Engine fees and future BAM fees will flow into the DAO Treasury. Effective immediately, 100% of DAO-generated revenue will be used for continuous repurchase of JTO tokens, with the monthly repurchase amount matching the previous month's revenue generation, and will continue indefinitely (subject to DAO approval).
Previously, on September 4, the Jito Foundation announced the completion of the first round of a $1 million JTO repurchase and future plans: a $1 million JTO repurchase was completed in four installments within ten days. Today marks the first explicit announcement of a 100% network revenue repurchase ratio.
You may also like
Gainers
Latest Crypto News
Franklin Templeton has submitted an XRP ETF S-1 filing update, aiming to launch within this month
Bottom-Fishing Whale "7 Siblings" Borrows Another 61 Million USDC to Increase ETH Holdings by 18,053 ETH
Bitwise CIO: Retail Investor Sell-Off Exhaustion Near, Bitcoin Bottom May Be Close
South Korean Stock Market Plunges 4%
Ether.fi Community Votes to Approve '$50 Million ETHFI Buyback' Proposal
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Services:support@weex.com