Jito officially announced the airdrop details. How will the 100 million JTO be distributed?
The airdrop quota check website is now online.Author: Azuma, Odaily
On November 28, the liquid staking protocol Jito on Solana announced the launch of its governance token JTO and will airdrop 100 million JTO (10% of the total supply) to the community. Although the announcement specified that the target groups for the airdrop would be Jito SOL users, Jito Solana validators, and Jito MEV searchers, it did not disclose the rules for distributing the 100 million JTO among these three groups, and eligible addresses could not check how much airdrop they would receive at that time.
In the early hours of December 5, Jito officially supplemented this key information and launched the airdrop eligibility check website.
Note: Jito officially reminds users that they can currently only check their airdrop eligibility, and the claiming process has not yet started. Once claiming opens, the Jito Foundation will announce information through official channels, so please do not click on any links from unofficial sources.
Token Contract & Distribution Plan
According to the information released by Jito this morning, the JTO token has been minted on-chain, but currently, it has not been officially circulated except for some small-scale test transfers. The token contract address is jtojtomepa8 beP8 AuQc6 eXt5 FriJwfFMwQx2 v2 f9 mCL.
From the announced distribution plan, Jito SOL users will receive 80% of the airdrop (80 million JTO), Jito Solana validators will receive 15% (15 million JTO), and Jito MEV searchers will receive the remaining 5% (5 million JTO).
It is worth mentioning that Jito emphasizes that all past and current core contributors will not be included in the JTO airdrop scope, including all addresses of core contributors that meet the above conditions.
Jito SOL User Airdrop Details
The eligibility for the Jito SOL user airdrop is determined by the ranking of the Jito points program, and only Jito SOL users with a score of 100 points or more are eligible for the airdrop.
To ensure a fairer distribution, the Jito Foundation has adopted a tiered distribution system based on different point levels, which is designed to ensure that users with fewer points receive more rewards compared to proportional distribution, thus encouraging more people to participate in the governance of the Jito ecosystem.
The airdrop snapshot started on January 1, 2023, and ended on November 25, 2023. During this period, there were a total of 9,852 eligible addresses. After conducting a witch-hunt screening and excluding core contributor addresses, ten levels of distribution standards were finalized, as shown in the figure below.
Jito Solana Validator Airdrop Details
Jito - Solana validators have played a key role in expanding the network effects of the Jito - Solana client, which currently accounts for 41% of the total staking weight on the network.
A total of 15 million JTO will be distributed to Jito - Solana validators according to the following rules:
- Operated the Jito - Solana client during epochs 366 to 536;
- Operated the Jito - Solana client during epochs 527 to 536 and maintained it for at least one epoch.
The distribution of JTO will be based on each validator's share of the total staking scale of Jito - Solana, with a weighted calculation for each epoch since epoch 366. Ultimately, there will be four levels of distribution standards for Jito - Solana validators, as shown in the figure below.
It is important to note that only 50% of the JTO airdropped to Jito - Solana validators can be claimed at the token genesis, while the remaining 50% will be unlocked linearly over 12 months.
Jito MEV Searchers
The last group eligible for the JTO airdrop consists of searchers who have used the Jito MEV search suite, with a total airdrop amount of 5 million JTO tokens.
To qualify for the airdrop, Jito MEV searchers must have contributed at least 1 SOL between epochs 366 and 536.
Similar to the distribution method for Jito - Solana validators, eligible Jito MEV searcher addresses will be divided into five different levels, with more active searchers receiving larger distribution amounts, as shown in the figure below.
In addition, only 50% of the JTO airdropped to Jito MEV searchers can be claimed at the token genesis, while the remaining 50% will be unlocked linearly over 12 months.
Risk Warning
Jito officials stated that after the JTO airdrop opens, there will be an 18-month claiming validity period, after which unclaimed tokens will be transferred to the DAO treasury's Realms wallet.
At the end of today's announcement, Jito officials reiterated the risk warning, urging community members to be vigilant against potential scams. After the airdrop opens, all users should check whether all websites they visit have the jito.network domain and verify that the token contract is correct.
Jito officials will also not proactively send messages to users or ask users for personal information. BlockBeats reminds all users to remain vigilant.
