Everything You Need to Know About the FIO Token

What is the FIO Token?

Finally, we get to the native token of the FIO protocol. It’s a utility token that allows users to:

Pay for their transactions on FIO-enabled products; Register their FIO Crypto Handles; Vote for block production; Earn rewards by staking.

Let’s move on to the token use cases and tutorials. How to Get FIO Tokens?

Firstly, it is easy to get FIO tokens. They can be claimed through indirect payments with other popular cryptocurrencies. It can be done on well-known and reputable cryptocurrency exchanges such as Binance, Bitrue, BitMart, SuperEx, Huobi, and others, as well as bought directly on the fioprotocol.io platform.

How does a user do that? One can simply register on fioprotocol.io, log in, and go to the tab “FIO Tokens” on the dashboard. Here, we can see that the user has 0 FIO tokens, but there’s a blue button that says “Get Now”. Click on it, and complete the process using any offered methods. After that, you can use the tokens in any way you want. Perhaps, staking? How to Stake FIO Tokens?

Users can stake their FIO tokens on the dashboard, too. It’s also possible to use many different FIO-enabled wallets. A list of them can be found on the FIO protocol’s website. I’ll explain the process using a Moonstake wallet.

Moonstake is either a web or a mobile app wallet that can be downloaded from the Google App Store. Initially, the FIO token will not be visible on the wallet, so users must click on “Add New Asset”, find the FIO token, and add it. Then, the FIO tokens become visible, and the FIO protocol dashboard can be found. From there, users can stake their tokens for an unlimited amount of time. If they want to unstake them, the tokens will remain locked for 7 more days. How to Use FIO Tokens to Pay for FIO Services?

There are more things users can do with their FIO tokens. For example, the token can be used to pay for FIO Crypto Handle and Domain registration fees, as well as additional transaction fees, if the user goes over the 100 transaction bundle offered for free with every newly registered FIO Crypto Handle.

It’s simple to pay for fees with FIO tokens from the dashboard. If it’s the case mentioned, and you went over the 100 bundled transactions, you can simply go to the “FIO Crypto Handles” tab of the dashboard, and click on the plus sign next to “Bundles”. There, you can buy more transactions using the FIO tokens, if you have any.

That is all about the FIO protocol - the ultimate interoperability protocol of Web3.