Bankless
Jito Declares War on Coinbase & Binance | Lucas Bruder on the Launch of JTX
- JTX is a prosumer trading terminal designed to bring institutional-grade execution to retail traders on Solana, featuring clean UX, professional order types (TWAPs, SmartFill), and comparison of on-chain execution against centralized exchanges like Kraken and Coinbase.
- Proprietary AMMs (Prop AMMs) have dramatically improved execution on Solana; they function like order books with on-chain market-maker logic, enabling spreads under one basis point on major pairs and eliminating the need for constant arbitrage to discover price.
- Solana tokenized equities are gaining adoption via platforms like Backpack, Xstocks, and Ondo; volume occasionally exceeds meme coin trading, signaling a shift away from Solana's earlier reputation as a meme-coin chain.
- Solana protocol improvements include SIMDs for doubled disinflation and resource-based burn mechanics tied to transaction volume, which should reduce token emission and increase SOL scarcity as more assets and trading activity come on-chain.
- JTO tokenomics: 80% of JTX trading fees accrue to the DAO, with all fees swapped for JTO (not USDC or other assets) and returned to the DAO; the remaining 20% funds reinvestment.
- Planned rollout: waitlist opens January 14–15 with gradual access based on referral count; roadmap includes spot trading launch, followed by perpetuals (Phoenix perps), prediction markets, and equities features unavailable elsewhere.