If Lido DAO announced a buyback for Ethereum, then this project is for #Solana.
It's Jito @jito_sol, which is pushing for 100% of blockchain fees to be allocated to the DAO, and when looking at fees and TVL, it is positioned at the very top of Solana.
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📣 𝗔 𝗡𝗲𝘄 𝗘𝗿𝗮 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗝𝗶𝘁𝗼 𝗗𝗔𝗢 🏛️
“JIP-24: Jito DAO Receives All Jito Block Engine Fees and Future BAM Fees”
What is JIP-24? ⚖️
This NEW proposal (available on the Jito Network forum) outlines a fee restructuring for Block Engine fees. Instead of the current 50/50 split of Jito Block Engine fees between Jito Labs and the Jito DAO, JIP-24 proposes 100% go to the Jito DAO Treasury (including all future BAM fees).
• Current: 6% Block Engine fees split 50/50 (Labs/DAO)
• Proposed: 100% to DAO Treasury + ALL future BAM (Block Assembly Marketplace) fees 💥
Timeline:
• Immediate: Fee switch (provided vote passes)
• Short-term: CSD launches value accrual program
• Long-term: Sustainable & transparent revenue engine
Benefits:
• protocol value accrues to $JTO holders
• Jito DAO controls all protocol economics
• Establishes a framework for future revenues
• Introduces an industry-leading governance model
• The CSD (from JIP-17) manages fees for value accrual
To briefly talk about Jito:
1. Jito holds the number one market share in the Solana LST market (60-70%).
2. Over 95% of active staking on Solana is delegated to the Jito client.
3. Jito leads with 55-65% of Solana's MEV revenue,
which can be said to have an overwhelming impact on Solana.
And the most important point is that not only will 100% of the fees be allocated to the DAO, but it was also stated that "the rewards will be returned to JITO token holders."
This can also be said to align with the current LST and buyback meta.
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