Binance announced the listing of JTO Token of Jito project with Seed Tag on December 7.
Binance announced the listing of Jito (JTO) and plans to open trading for these spot trading pairs at 11:00 p.m. December 7. Users can start sending JTO to prepare transactions. Withdrawal feature opens at 11pm on December 8.
New Spot Trading pairs: JTO/ USDT, JTO/FDUSD and JTO/TRY.
JTO listing fee: 0 BNB.
Additionally, Binance will add JTO as a borrowable asset with this new margin pair on Isolated Margin within 48 hours from 11:00 p.m. on December 7. The new Isolated Margin pair is JTO/ USDT.
What is Jito (JTO)?
JTO is the Governance Token of the Jito network - the Solana liquidation Staking service provider with the Solana open source authentication application. Jito allows Stake to earn rewards and collect MEV through the project's specialized MEV software suite.
JTO is a relatively new Token , carries higher than normal risk and can therefore experience high price volatility. Users need to carefully research and fully understand the project before trading Token.
Mechanism to Stake SOL and earn rewards with Jito
- Send SOL to the group and receive JitoSOL.
- The Jito Staking Pool delegates user SOL to MEV-enabled validators.
- Validators auction Block space and receive MEV rewards.
- These MEV rewards are redistributed into the stake pool as additional APY.
- JitoSOL accumulates MEV rewards in addition to Staking rewards.
JTO launched amid Binance's efforts to maintain its service, the first step in its journey to transform into "a normal financial company". This is the goal of CEO Richard Teng after the exchange agreed to pay a fine of 4.3 billion USD to end the lawsuit with the US Department of Justice.
Also Read: The transformation of Binance - the leading global company in the industry
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