JIP-24 has officially reached quorum on realms and is set to pass.
This change will route *all* future Jito Block Engine + BAM fees to the crypto economic subDAO
This will essentially increase Jito's take rate on Tips by 110% nominally, from 2.7% to 5.7%. (caveat that total will be 6% but .3% currently goes towards various jito VRTs)
However, revenue is denominated in jitoSOL, so effective USD revenues scale with both take rate and jitoSOL/SOL price.
The subDAO is tasked with designing and executing value-accrual mechanisms; this JIP earmarks BAM/Block Engine fees for CSD-directed programs.
The desired outcomes of the CSD from JIP-17 can be seen below.
With several DATs targeting over $2.25B in aggregate funding and 8 spot SOL ETFs pending approval, most with an October decision timeline - JTO appears very well positioned among Solana tokens to benefit reflexively & potentially outperform SOL if the value accrual mechanisms prove to be effective
📣 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
9.12K
43
The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.