Jito's new proposal JIP-31: Proposes redirecting 100% of protocol revenue to validators running BAM.

PANews reported on December 23 that Jito released Proposal JIP-31 on its forum, proposing to redirect 100% of protocol revenue to validators running BAM and suspend the current 100% buyback program implemented by CSD. BAM is considered key to the development of the Solana network and can lay the foundation for realizing an internet capital market. The proposal also puts forward an early adopter subsidy program for BAM, which will distribute rewards through JitoSOL according to staking weight to incentivize validators to adopt BAM. The subsidy program will be implemented from January 12, 2024, to the third quarter of 2026, initially using all protocol revenue to support the subsidy, and then gradually reducing it to zero. Jito stated that the plan aims to accelerate the adoption of BAM, but if the adoption rate does not meet expectations, it may face the risk of inefficient use of DAO funds.