Jito, one of the largest liquid staking protocols on the Solana blockchain, has proposed using part of its protocol revenue to buy back and permanently burn JTO tokens.
The proposal would replace the current fee distribution model with token buybacks and burns, aiming to reduce the supply of JTO over time through regular token burns.
Jito said the new approach aims to better align the protocol's revenue with long-term token holders. The community must approve the plan before it is adopted, and no timeline has been announced for when token burns would begin if the proposal passes.