Coinbase, the leading cryptocurrency exchange in the USA, has officially announced its support for the JITO (JTO) token on the Solana network. In a recent statement, Coinbase revealed that trading for the JTO token will commence on December 7, 2023, at 21:00 Turkey time or later.
The JTO token, with a total supply of 1 billion, is set to be introduced through an airdrop to eligible users, marking its debut on the exchange. This move aligns with the foundation’s strategy to launch a governance token, fostering both the management and development of the Solana-based liquid staking protocol.
_ @coinbase will list @jito_sol $JTO on December 7th. Trading will begin on or after 11AM ET on 7 December, if liquidity conditions are met. Earlier Solana-based liquid staking platform Jito announced the token launch. The airdrop claim window will open on Dec 7th, at 11am ET. pic.twitter.com/PmLjnsOBjV
— ICO Analytics #StandWithUkraine 🇺🇦 (@ICO_Analytics) December 6, 2023
Token holders will gain the opportunity to actively participate in management voting on the Jito Network, further enhancing the decentralized governance aspect of the platform. Notably, Coinbase CEO Brian Armstrong recently commended the Solana network for its exceptional speed and cost-effectiveness.
1. $JTO Airdrop Claim Opens Tomorrow! 🗓️
The airdrop claim window will open on December 7th, 2023 at 11am ET (Token Generation Date).
Any eligible airdrop recipients will be able to claim their JTO tokens for 18 months, starting on the Token Generation Date. pic.twitter.com/7vRIxdiD3h
— Jito (@jito_sol) December 6, 2023
This announcement follows the successful trading of Solana’s native coin, SOL, on the Coinbase exchange. The decision to list another Solana-based altcoin underscores the growing significance of the Solana ecosystem. SOL has experienced a remarkable 60% surge in the past month, reaching a total market value of approximately $27 billion.
