The Defiant

Jito Briefly Surpasses Lido's Valuation at Launch

DeFi users celebrate five-figure windfalls as Solana liquid staking protocol airdrops $160M of JTO tokens.

By: yyctrader Loading...

Jito Briefly Surpasses Lido's Valuation at Launch

Airdrop fever is in full swing as we approach the holiday season.

Jito, the dominant liquid staking protocol on the Solana blockchain, launched its highly anticipated JTO governance token earlier today at a fully diluted valuation north of $2B.

JTO Price chart
JTO Price

Solana DeFi users rejoiced as eligible users could claim a minimum of 4,941 JTO, worth nearly $10,000 at the time of writing. The airdrop for the highest tier, which only 10 users were able to attain, is worth a whopping $210,000.

Jito allocated 80M tokens towards the airdrop. At launch, the fully diluted valuation of the project briefly surpassed that of Lido, the leading Ethereum liquid staking project and largest DeFi protocol, with $21.7B in total value locked.

As airdrop recipients cash out, however, JTO is trending lower and currently trades at an FDV of $1.8B.

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