Solana Fam! What's your thoughts on JITO

[desmonddesk]

Bitget announced the listing of JITO on their Exchange just as other tier1 Exchanges like Binance and KuCoin but with a prize pool and multiple events that rewards JITO. And JITO Being a prominent project within Solana's MEV (Miner Extractable Value) space. Jito Labs client currently processes almost a third of Solana's stake, and its MEV network of validators is utilized by over 40% of the Solana network’s stake weight. The project has gained widespread popularity and allows users to earn MEV rewards through the Solana Liquid staking pool. Backed by funding from Framework Ventures and Multicoin Capital, JITO has raised over $12 million and has a Total Value Locked (TVL) of $367 million. Now my concern is, do you think these amount of stakers and TVL are enough to have governance token airdrop? And is it advisable to invest right now in this coin?

[joniboini]

As far as I can tell, there's no study related to how to determine whether a TVL and staked amount correlate with how much governance token you should own. Basically, it depends on your risk whether you want to invest in a governance coin of a blockchain or not. I believe most layer-2/layer-1 coin is a good option to invest if their ecosystem is good enough, which is why ETH and Solana for example are valuable (doesn't factor in other things like the recent dump due to a bankruptcy, etc).

I'd say that you can buy some of them and look to grow your on-chain activity on other Solana dapps. I bought some JitoSOL as speculation recently, hoping to sell it at the peak of a bull market. Can't really say the same thing for you since I don't know how much money you can burn. At the very least it should be less risky compared to chasing pump-and-dump meme coins that are also trending recently.

[MrSpasybo]

Jito is the first liquid staking project on Solana, perhaps its potential will be as great as Lido on Ethereum. Different from the BONK meme, Jito can actually increase the value of the Solana ecosystem by supporting staking without missing out on opportunities in Defi.
I still remember the TVL fake scandal on Solana in the 2020 cycle, hope this bad event will not repeat and Solana will return with the best Defi projects for users in next cycle 2024 💪