JTO is the governance token of Jito Network, a Solana liquidity staking service provider with an open source Solana validator client that allows stakeholders to earn Solana staking rewards and earn MEV through its MEV software suite.

JTO enables token holders to make critical decisions that shape the future of Jito Network, allowing it to continue to grow and prosper based on the needs of those it serves and the broader Solana ecosystem. These decisions and initiatives may include:
* Setting up the fees for the JitoSOL stake pool
* Updating the authorization strategy by controlling the parameters of the StakeNet program
* Managing the fees incurred by the JTO token library and JitoSOL held by the DAO
> * Contribute to the ongoing development and improvement of Jito's protocols and products.

Jito Network is a major contributor to the Solana ecosystem through its JitoSOL liquid staking pool and its MEV product line.

Users can change SOL to JitoSOL. In return, holders can maintain SOL’s liquidity and DeFi opportunities while earning income through staking. JitoSOL uniquely offers its holders additional rewards on transaction revenue associated with MEV withdrawals on Solana.

Maximum Extractable Value (MEV) describes the profit opportunity attributed to a specific sequence of trade executions. For example, a large swap on Orca could lower the price of the pool below that of Raydium or Serum. Traders will compete to profit from the price difference, and this arbitrage is considered MEV.

The Jito Foundation was established to minimize the negative impact of MEV, fairly distribute profits, and promote transparency. Jito has released an open source validator client aimed at creating a competitive market for MEV extraction. Clients enable auctions within each block for a chance to capture the MEV of that block. Traders submit bids, and the highest bidder within each block gets the available MEV.