Jito Network said on July 13 that it will direct 100% of revenue from JTX platform revenue sharing toward buying back and burning JTO for at least the next year. According to the announcement, all proceeds generated through JTX revenue sharing will be used on an ongoing basis to repurchase JTO from the secondary market. The tokens bought back under the plan will then be permanently destroyed. Jito Network said the move is intended to reduce JTO’s circulating supply. The update was reported by BlockBeats.
Jito Network said on July 13 that it will use 100% of revenue received through JTX platform revenue sharing to buy back and burn JTO for at least one year.
According to the announcement, all proceeds from JTX revenue sharing will continue to be used to repurchase JTO on the secondary market, and the tokens acquired through those buybacks will be permanently destroyed to reduce circulating supply.
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