Something cool happening here IMO. The Jito Stake Pool has around 10 million SOL staked in it, and we don’t want that SOL to sit out of participating in the new governance system.
So we’ve built a system that allows you to vote with your JitoSOL.
A few interesting things about this:
This ensures that JitoSOL has all of the governance utility that SOL has. In fact, it has more, because if you vote, the signal you generate will influence the entire stake pool.
That means you can have up to 10X the voting power in the forthcoming governance votes. This makes JitoSOL holders in the top 5 most influential votes on the network.
We created the concept of a “quorum trigger” for this. We only trigger the stake pool if we get 10% of JitoSOL TVL to vote. This felt like a reasonable legitimacy threshold to swing the entire stake pool.
We vote early. In order to canvass the opinion of JitoSOL holders in advance of the on-chain governance votes we do our votes in the review period before the on-chain votes happen. As more voters join over time, JitoSOL will mature into being an exit poll for major governance votes on the network.
Generally, this is a step forward in LST governance, which I believe will become of a bigger feature of blockchain governance going forward.
If you hold JitoSOL, get involved. Under 3 epochs to get your vote in. Instructions in the QT.