What is FIO Protocol (FIO)? Latest information about FIO Token

In the blockchain world, using long and complex wallet addresses remains a significant barrier for ordinary users. To address this issue, FIO Protocol was created as a user-friendly interaction layer between users and blockchain infrastructure.

What is FIO Protocol? Is the FIO Token worth investing in? Let Allinstation explore the details in the following article!

• Token Name: FIO
• Ticker: FIO
• Blockchain: FIO Chain
• Token Standard: Currently updating
• Contract: Currently updating
• Token Type: Utility and Governance.
• Total Supply: 1,000,000,000 FIO
• Circulating Supply: 723,790,000 FIO

Token Allocation

Specifically:

• Foundation: 22%
• Team: 17.5%
• Series A: 16.4%
• FIO Address Giveaway: 12.5%
• Bounties: 12.5%
• Integration Incentives: 11.4%
• Future Token Sales Reserve: 3.59%
• Private Round 3: 1.33%
• Advisors: 1.05%
• Block Producer Incentives: 1.00
• Foundation Service Provider: 0.32%
• Airdrop: 0.28%
• Private Round 2: 0.04%
• Private Round 1: 0.04%

Token Release Schedule

The FIO token release schedule is designed to gradually distribute tokens over time, ensuring stability and support for the Fio Protocol ecosystem. Here's a detailed analysis of the token release phases and process:

• Foundation: A total of 220.10 million FIO tokens (22% of total supply) are distributed. Initially, 17.6% are unlocked at TGE (Token Generation Event), with the remainder gradually unlocked monthly over 42 months.
• Team: The development team receives 175.30 million FIO tokens (17.5% of total supply). The team's tokens have an initial 4-month lock, with 6% unlocked on July 25, 2020, followed by 18.8% from January 25, 2021, to January 25, 2023.
• Series A, Integration Incentives, Private Round 3, Advisors, Foundation Service Provider: These groups have a similar token release schedule with an initial 4-month lock and subsequent gradual unlocking from 6% to 18.8% monthly during the same period as the Team.
• Block Producer Incentives: A total of 10 million FIO tokens (1% of total supply) are distributed evenly each month for 15 months, starting from April 25, 2020.
• Airdrop: 2.8 million FIO tokens (0.28% of total supply) were immediately released on March 25, 2020, with no lock.
• Private Round 1 and 2: Each round distributes 400,000 FIO tokens (0.04% of total supply) with an initial 50-year lock, then 25% unlocked each year from January 25, 2021, to January 25, 2023.
• Untracked: 285.90 million FIO tokens (28.6% of total supply) have no clear release data and may be unlocked at any time.

In total, 714.03 million FIO tokens, representing 71.4% of the total supply, will be distributed through various phases, with specific locking and unlocking mechanisms to ensure the stability and development of the Fio Protocol ecosystem.

Token Utilities

• Payment of service fees on the FIO platform.
• Governance: Participate in voting on ecosystem development decisions.
• Rewards: Used as rewards for block producers, bounties, airdrop, staking, etc.

FIO Protocol Token Wallets & Exchanges

FIO Wallets

Here are wallets you can use to store FIO tokens:

• Exchange Wallets: Exchanges supporting FIO tokens typically provide integrated storage wallets. This helps users easily manage and trade FIO tokens directly on the exchange platform.
• Edge: Edge is a multi-cryptocurrency wallet with high security, allowing users to store FIO tokens along with many other cryptocurrencies.
• Trustee Wallet: Trustee Wallet is a decentralized wallet supporting multiple cryptocurrencies, including FIO tokens.

FIO Exchanges

FIO can currently be traded on exchanges like Binance, Gate, BingX, etc.

FIO Protocol Project Team

Luke Stokes (Foundation Managing Director): Luke Stokes is a notable member of the FIO Protocol development team. He is a member of eosDAC, Witness Hive Blockchain, and co-founder and former CTO of FoxyCart.com. With extensive experience in blockchain and digital system development, Luke plays a crucial role in guiding and developing FIO Protocol.

In addition to Luke Stokes, the FIO Protocol development team includes many experienced members with expertise in related fields. For more details about other team members, you can refer to the page at research.binance.com

FIO Protocol Investors and Partners

Investors

FIO Protocol has gone through 4 main funding rounds with a total capital raised of over $7.36 million. The largest funding round was the Angel round, raising $6.8 million at a price of $0.0414/FIO. The current ROI for this round is 0.43x (-57.4%), but it reached a peak of 13.76x (+1,276%).

Private Round 2 had a price of $0.0375, raising $499,000. The current ROI is 0.47x (-52.9%), but the ATH ROI reached 15.19x, the highest return among the rounds.

The Private/Pre-sale round raised $20,000 at a price of $0.05/FIO. The current ROI is 0.35x (-64.7%), with the highest ROI reaching 11.39x.

Finally, the Private round raised $48,000 at a relatively high price of $0.12/FIO. The current ROI is only 0.15x (-85.3%), though the ATH ROI reached 4.75x.

Partners

The FIO Protocol ecosystem is diverse, including partners in various fields such as wallets, exchanges, applications, and tools. Some notable partners include:

• Wallets: Edge, Guarda Wallet, Scatter, TRIBE, Midas Protocol, Trust Wallet, Coinomi.
• Exchanges: Binance, BitMax.
• Applications and Tools: AtomicPay, Wampei, NOWPayments, NEXO.

These partners help expand the capabilities and utilities of FIO Protocol, providing convenience and security for users when conducting blockchain transactions.

Analysis of FIO Protocol

FIO Protocol is a notable blockchain project aimed at improving user experience by simplifying management and transaction processes. One of FIO Protocol's major advantages is its ability to abstract public and private keys into readable addresses similar to email addresses, helping users avoid remembering complex character strings. This is especially useful for new users and those with limited blockchain knowledge. The project ensures high security by requiring all transactions to be signed with FIO private keys controlled by users, and sensitive information like public addresses can be encrypted on the blockchain, protecting user privacy. FIO Protocol works with any blockchain and cryptocurrency without specific integration requirements, providing high flexibility and extensive scalability. Moreover, FIO Protocol has a rich partner ecosystem, including numerous wallets, exchanges, applications, and tools, helping expand utility and user accessibility.

However, the project also faces challenges. The blockchain and cryptocurrency field currently has many competing projects with similar solutions, requiring FIO Protocol to continuously improve and upgrade to maintain its market position. Widespread acceptance by user communities and partners remains a challenge, as integrating with existing services and convincing users to switch to FIO Protocol can be difficult. The effectiveness of FIO Protocol also heavily depends on collaboration with ecosystem partners, and any changes or withdrawal from key partners could impact the project's operations and development.

Summary

FIO Protocol is a special project focused on improving blockchain UX through user-friendly solutions. Although no longer the center of attention, FIO remains a necessary piece for Web3 when targeting blockchain popularization.

Allinstation has answered the question about what FIO Protocol is and provided information about the project's FIO token. Please explore and evaluate to make the most informed investment decisions. Good luck!