A Decentralized Service Layer for Cryptocurrency Transactions.
- FIO Protocol (FIO) is a decentralized service provider that aims to enable a better way of sending and receiving coins and tokens.
- The FIO token is the native utility token of the project’s blockchain infrastructure, FIO Chain, and is used for transaction gas fees and onchain governance.
- FIO Chain is a Delegated Proof-of-Stake (DPoS) blockchain that is designed to manage the high data-write needs of the FIO Protocol. Block Producers (BP) do not collect block rewards, nor incur any token supply inflation. Instead, BPs only get rewards from transaction fees.
- As of the time of writing, the project has launched:
- FIO Address: allows users to initiate onchain transactions with intelligeble identifiers such as “tom@trustwallet” or “jack@ethereum”;
- FIO Requests: allows users to request funds from anyone using supported wallets, with in-app notifications and simple approvals;
- FIO Data: allows encrypted metadata to be attached to any transaction.
- 16.02% of total FIO token supply hsa been distributed to equity investors. FIO protocol raised a total of 5.70MM USD via equity sales conducted from August 2018 to August 2019.