Jito proposes allocating 100% of block engine fees to the DAO treasury

PANews reported on August 6th that, according to CoinDesk, Jito Labs proposed a new governance proposal, JIP-24, on Tuesday. This proposal aims to transfer all block engine and BAM fees directly to the Jito DAO treasury, further decentralizing the network. If approved, the DAO would control protocol revenue and direct it to JTO token holders. This would reduce Jito Labs' influence on the network and increase the role of DAO subgroups in development. Jito Labs hopes this would increase the value of the token.

Currently, Jito's block engine rewards are distributed evenly. JIP-24 would eliminate this practice and permanently transfer the entire 6% fee, along with future BAM-related revenue, to the DAO treasury. It is estimated that BAM-related fees, particularly those from plugin activities, could generate $15 million in new revenue annually for the DAO. The proposal also earmarks funds for plans to develop a crypto-economy sub-DAO (CSD).