Jito officially announces the analysis of airdrop rules Who will receive blessings?

Jito Officially Announces Analysis of Airdrop Rules Who Will Be Blessed?

Author: Azuma

On November 28th, the liquidity staking protocol Jito on Solana announced the launch of its governance token JTO. The project will airdrop 100 million JTO tokens to the community, accounting for 10% of the total supply. While the announcement identified JitoSOL users, Jito Solana validators, and Jito MEV searchers as the target recipients of the airdrop, it did not disclose the specific rules for allocating the 100 million JTO tokens among these three groups, nor did it provide information on the exact amount of the airdrop for eligible addresses at that time.

On December 5th, Jito officially released these crucial details and launched a website to check the airdrop allocation.

Odaily News Note: Jito has advised users that they can currently only view their airdrop allocation, and the claiming process has not yet started. Once claiming is open, the Jito Foundation will announce the information through official channels. Please avoid clicking on any links from unofficial sources.

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Token Contract & Allocation Scheme

According to the information released by Jito today, the JTO token has already been minted on the chain. However, it has not officially circulated except for some small-scale test transfers. The token contract address is jtojtomeLianGuai8beP8AuQc6eXt5FriJwfFMwQx2v2f9mCL.

Based on the allocation scheme published so far, JitoSOL users will receive 80% of the airdrop allocation (80 million JTO tokens), Jito Solana validators will receive 15% (15 million JTO tokens), and Jito MEV searchers will receive an additional 5% (5 million JTO tokens).

It is worth mentioning that Jito emphasizes that all past and current core contributors will not be included in the JTO airdrop, including all eligible addresses of core contributors who meet the aforementioned criteria.

Airdrop Details for JitoSOL Users

The eligibility for JitoSOL users to participate in the airdrop is determined by their ranking in the Jito point system. Only JitoSOL users with a score of 100 or above are eligible for the airdrop.

To ensure a fair distribution, Jito Foundation has implemented a tiered allocation system based on different point levels. This measure ensures that users with fewer points can receive more rewards compared to a proportional distribution, allowing more people to participate in Jito’s ecosystem governance.

The airdrop snapshot starts on January 1, 2023, and ends on November 25, 2023. During this period, there are a total of 9,852 eligible addresses. After conducting anti-whale measures and excluding core contributor addresses, the final allocation standards have been determined in ten levels, as shown in the figure below.

Analysis of Jito Solana Validator Airdrop Rules

Jito-Solana validators have played a crucial role in expanding the Jito-Solana client network effect, and the client currently occupies 41% of the network’s total staking weight.

A total of 15 million JTO will be distributed to Jito-Solana validators according to the following rules:

• Operated the Jito-Solana client during the 366th epoch to the 536th epoch;
• Operated the Jito-Solana client during the 527th epoch to the 536th epoch and continued for at least one epoch.

The distribution of JTO will be based on each validator’s share in the total staking size of Jito-Solana, and the time dimension will be used to calculate the weighted average for each epoch since the 366th epoch. Finally, Jito-Solana validators will have four levels of distribution criteria, 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 during token genesis, while the remaining 50% will be linearly unlocked over a period of 12 months.

Jito MEV Searchers

The last group eligible for the JTO airdrop consists of searchers who have used the Jito MEV search suite, and the total amount allocated for this group is 5 million JTO tokens.

To qualify for the airdrop, Jito MEV searchers must have cumulatively staked at least 1 SOL between the 366th epoch and the 536th epoch.

Similar to the allocation method for Jito-Solana validators, Jito MEV searchers who meet the airdrop criteria will be divided into five different levels, with more active searchers receiving a larger allocation amount, as shown in the figure below.

Furthermore, only 50% of the JTO airdropped to Jito MEV searchers can be claimed during token genesis, while the remaining 50% will be linearly unlocked over a period of 12 months.

Risk Warning

Jito officials state that there will be an 18-month claiming period for JTO after the airdrop opens, and any unclaimed tokens after this period will be transferred to the Realms wallet in the DAO treasury.

In the final announcement today, Jito officials once again issued a risk warning, urging community members to be cautious of potential scams. After the airdrop is open, please ensure that all websites visited have the domain name jito.network and verify the token contract’s accuracy before interacting.

Jito will not proactively send messages to users or request users to provide personal information. Please stay alert.

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