Jito Network is a key contributor to the Solana ecosystem, offering a liquid staking pool called JitoSOL and various products related to Maximum Extractable Value (MEV). Users can stake their SOL for JitoSOL, earning rewards from both staking and MEV-related activities. MEV involves making profits from the order of transactions on the blockchain.
The Jito Foundation aims to reduce the negative impacts of MEV, promoting fairness and transparency. It has developed a system where traders can bid to capture MEV in each block of transactions.
JTO is Jito Network's governance token, giving holders the power to make important decisions about the network's operations and future. This includes setting fees, managing the treasury, and helping to improve Jito's services. This governance model ensures that Jito Network adapts to the needs of its users and the Solana ecosystem.