Binance, one of the leading cryptocurrency exchanges, has revealed its decision to list Jito (JTO), the governance token of the Jito network. This announcement brings about significant developments in the form of new spot trading pairs, the inclusion of the Seed Tag, as well as the addition of JTO as a borrowable asset in the Isolated Margin category.
The listing of Jito (JTO) on Binance signifies a significant milestone for the token, especially after Coinbase recently announced its support for Jito on the Solana network, indicating increasing recognition for the token among major platforms shortly after the Jito Foundation’s launch.
JTO Spot Trading Pairs on Binance
Binance has paved the way for the listing of Jito (JTO) by introducing spot trading pairs: JTO/USDT, JTO/FDUSD, and JTO/TRY. The trading for these pairs is slated to begin on December 7, 2023, at 16:00 (UTC).
Furthermore, Binance is adding JTO as a borrowable asset within the Isolated Margin framework, with a new margin pair, JTO/USDT, set to be introduced within 48 hours from December 7, 2023, at 16:00 (UTC), aiming to broaden trading strategies and provide users with more options within the Isolated Margin category.
What is Jito (JTO)?
Jito (JTO) serves as the governance token for the Jito network, offering Solana liquid staking services. Stakers can earn rewards through Solana staking and address Maximal Extractable Value (MEV) using advanced MEV software with an open-source Solana validator client.
Binance has explicitly cautioned its users about the innovative yet relatively new nature of JTO, highlighting the token’s exposure to higher risks and potential price fluctuations. The exchange emphasizes the importance of sound risk management practices before engaging in JTO trading activities.
What is a Seed Tag?
A Seed Tag is a symbol of the innovative nature of a token and signifies the potential for increased volatility as compared to other listed tokens.
When will JTO spot trading commence on Binance?
JTO spot trading is scheduled to start on December 7, 2023, at 16:00 (UTC).
What is the purpose of adding JTO as a borrowable asset in the Isolated Margin framework?
The addition of JTO as a borrowable asset in the Isolated Margin framework aims to diversify trading strategies and provide users with additional options within the Isolated Margin category.