The Jito Foundation announced four major updates to the JTO token economy and completed the first $1 million JTO buyback. According to the statement, the $1 million JTO buyback was carried out in four phases over 10 days. In the short term, the TWAP buyback strategy will continue, while new auction-based mechanisms are planned to be developed to enable automatic value accumulation. Related News: BREAKING: SEC Releases Update on Anticipated Altcoin Spot ETF Another significant step was the adoption of the JIP-24 proposal. This doubled the DAO's fee from the Jito Block Engine to 6%. It was argued that this update would significantly increase revenue flowing into the DAO's treasury and strengthen the value of the JTO token. Additionally, the Jito Foundation launched the JTO Economic Hub page and will hold its first JTO token holder conference on September 24. The Jito Foundation shared that these steps aim to increase the compatibility between the protocol and JTO token holders and strengthen the economic sustainability of the ecosystem. *This is not investment advice. Continue Reading: Binance-Listed Altcoin Announces Completion of Its First Major Token Burn
