Jito, a leading Solana liquid staking protocol, recently concluded a anticipated airdrop event that distributed over 90 million JTO governance tokens valued at $165 million to its users.
The JTO token was awarded based on staking and lending activity involving Jito’s liquid SOL token, JitoSOL. Along with competitor Marinade Finance, Jito makes up one of Solana’s top two liquid stakers, each managing about $425 million in total value locked.
Hoever, Experts have compared the event to Uniswap’s $900 million UNI community stimulus in 2020 which reinvigorated interest across Ethereum DeFi.
Similarly, analysts believe Jito’s airdrop could provide a timely boost to Solana as it recovers from recent market troubles.
Additionally, there are promising signs of renewal emerging on Solana. DEX trading volume hit $7.3 billion in November, NFT sales are improving, and new projects like Jupiter Protocol plan additional incentives.
Also Read: Jito Token Hits $1.1B Trading Volume on Debut Day
