The Jito Foundation has made four updates to the JTO token economics and completed the first round of $1 million JTO buyback.

The Jito Foundation announced four updates to the JTO token economics in a post on the X platform. These updates include: 1. Completion of the first round of $1 million in JTO buybacks and future plans: $1 million worth of JTO was repurchased in four installments over ten days. The Foundation will continue to utilize the TWAP buyback strategy while developing other mechanisms, such as an auction system, to automatically accumulate JTO value. 2. The JIP-24 proposal was passed, doubling DAO block engine fees. 3. The launch of the JTO Economic Hub. 4. The first JTO holder conference call was held.