Lightspeed The Ultimate Jito Thesis | Shayon Sengupta
Mar 28, 2025
Shayon Sengupta, an investment partner at Multicoin Capital, dives into the intriguing Jito thesis and its implications for Solana. He explores novel approaches to JTO token valuation beyond traditional buybacks, discussing the significance of miner extractable value (MEV) for layer 1 networks. Sengupta also highlights the evolution of governance within the Gito DAO and the importance of transaction inclusion for blockchain adoption. With insights into Gito's competitive landscape, this conversation sheds light on the future of decentralized networks and their community engagement.
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JTO Valuation
- Shayon Sengupta values JTO in SOL terms, not USD.
- JTO's value is tied to Solana's market cap and the fees flowing to the Jito DAO.
Revenue and Token Price
- Jack questions JTO's valuation, noting that JTO holders don't directly receive Jito's revenue.
- Shayon believes that revenue will eventually matter and that buybacks or distributions will connect revenue to token price.
Buyback Debate
- There's debate around buybacks versus accumulating a war chest.
- Shayon believes different networks have different priorities, and for Jito, buybacks might make sense due to high revenue.