Post by wolfur about JITO ($JTO)

Someone asked here what a $JTO holder votes on today. I read this year's three proposals from the Realms program (Oct 7, 03:50 UTC). The answer: where the DAO's revenue goes, and so far it has gone to validators, not to the token.

JIP-37 (June) sent 100% of protocol revenue to the BAM validator subsidy through Sep 30 and had the Cryptoeconomics subDAO cover holders with buybacks from its own treasury for Q3. JIP-38 (voted Sep 15 to 22) calls Jito "token-centric" but commits only JTX fees to buyback and burn. JIP-39 passed the same week, 10.60M approve to 0.71M deny: subsidy at 100% of protocol revenue through Q4 2026, then halving every 10 epochs from January until it ends in June 2027; non-JTX revenue returns to the DAO from Q3 2027. The vote closed Sep 22, the FinalizeVote transaction landed Oct 6 at 22:37 UTC, and all three proposals carry zero executable instructions.

Turnout: 11.3M JTO, 1.15% of supply, deciding the routing of about $400k a month (DefiLlama DAO revenue: $402k in September, $428k last 30 days). Holder revenue on every Jito adapter is $0.

Two checks on what holders were promised. JIP-37 required a Q3 buyback plan on the forum within 14 days and a CSD end-of-term report in July; neither is there. The last CSD post is JIP-26 from October 2025 (2.15M JTO bought at an average $1.52; price today $0.53). JIP-38 promises "all acquired JTO burned" from JTX, live since July 14. Mint supply was 986,523,002.9 at the JIP-37 vote, 986,522,509.5 at the JIP-38 vote, 986,522,447.6 today: 555 JTO gone in four months, 62 since Sep 15, about $300. The incinerator holds 0.04 JTO.

For the team:

1. Publish the Q3 par-buyback numbers JIP-37 mandated: JitoSOL spent and JTO bought, per epoch, with transactions.

2. Give the JIP-38 epoch report a fixed URL. Until then the mint supply is the only public check, and it shows no burn at any visible scale.

3. Post the execution transactions for JIP-39 (delegation move, new subsidy curve) when they happen; nothing on-chain marks the start.

Question: between now and June 2027, is any JTO buyback funded by anything other than JTX fees?

No affiliation with Jito.