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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.
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