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Jito Labs Proposes Full Allocation of Solana Fees to Jito DAO Treasury

The JIP-24 proposal shifts complete fee control to the DAO, redirecting revenue to JTO token holders and estimated to generate around $15 million annually, further decentralizing governance.

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Summary

On August 6, PANews reported that, according to CoinDesk, Jito Labs proposed governance proposal JIP-24 to transfer all block engine and BAM fees directly to the Jito DAO treasury. If approved, the DAO will control protocol revenue and direct it to JTO token holders, reducing Jito Labs' influence and bolstering decentralized governance. The proposal is expected to generate about $15 million annually and includes earmarked funds for a crypto-economy subDAO.

Terms & Concepts
  • JIP-24: A governance proposal by Jito Labs to reassign all fee revenues directly to the DAO treasury, altering the current distribution model.
  • Jito DAO: A decentralized autonomous organization managing the treasury for Jito Labs, slated to assume full control of protocol revenues under JIP-24.
  • JTO token: The native token intended to receive protocol revenue allocations from the DAO if the JIP-24 proposal is approved.