How to stake FIO
2022 stands as a promising year for the Foundation of Interwallet Operability as the FIO Staking is already live on mainnet. FIO Staking is a big step forward towards the success and development of FIO Protocol as it enables its holders to earn rewards, participate in governance, and support ecosystem growth.
Through the given guide we will explain how to stake FIO through the Anchor Desktop app.
Also, We have previously covered in detail how to create an FIO Account and obtain a free FIO Crypto Handle via Edge wallet.
FIO Staking activation date is 2/22/2022. The users can stake and unstake their FIO tokens, but they will not get any rewards until the activation date. Currently, the users can stake via the Anchor wallet, while the Edge Wallet is expected to support staking from the beginning of February.
The users are promised to earn up to 450% initial APR on their $FIO: “the earlier you stake, the more you earn”. Join the waitlist now. Read more about FIO Staking in the FAQ section below.
Voting in FIO Protocol
Who are the Block Producers in FIO and why are they important?
Block Producers play an important role in managing the FIO Protocol blockchain. As the name suggests, they add new blocks. On every cycle a block is added by one Block Producer (BP). Other members of the network vote for BPs. Token holders participate in the development of the network and help Block Producers maintain its stability by voting for them. The token price is ultimately connected to the value of its ecosystem. FIO holders participate in the system and therefore all take care of it. By voting for the best BPs you help the project grow!
Voting helps align interests among token holders, developers, and network operators, which paves the way for innovation. Vote to prioritize network security, encourage constructive participation, and promote transparency. Take into account candidates’ contributions to the FIO Protocol ecosystem, as well as their support for community programs, initiatives, and contributions.
Why vote for Everstake?
We at Everstake run nodes for up to 45 PoS blockchains aiming to provide the highest standard of service to stakers worldwide. Everstake is one of the biggest staking service platforms presenting an opportunity to profit off digital assets for both large crypto investors and private token holders. Our platform gives users a wide choice of cryptocurrencies for staking investment. We also support blockchains ecosystems by creating educational content, apps, working on bridges, DeFi projects and collaborations.
- In order to contribute to the FIO Ecosystem, we at Everstake have been creating educational content about FIO.
- We present a regular FIO Protocol Weekly Update on social media to educate the crypto community (Follow us on Twitter and Telegram).
- In May 2021 Everstake conducted FIO Staking FIP-21 Analysis for FIO Protocol.
- In order to assist potential delegators we are preparing to create Staking Guides once the FIO Staking is implemented soon.
Support Everstake BP and Vote for us
Guides and Articles
- Everstake: why we chose to join the FIO Protocol. Our contribution to the FIO Ecosystem
- FIO Protocol. A Comprehensive Guide on Voting (via Anchor and Edge Wallets)
- Protocolo FIO. Una Guía Completa Sobre La Votación (A Través de Billeteras Anchor y Edge)
- Protocole FIO. Guide Complet sur le Vote (par Anchor and Edge Wallets)
- FIO Protokolü: Oylama Hakkında Kapsamlı Bir Kılavuz (Anchor ve Edge Cüzdanı)
- FIO Protocol. Руководство по голосованию (с помощью кошельков Anchor и Edge)
The ranking for block producers on the FIO network
Everstake BP is usually taking some of the highest positions in the FIO BPs performance ranking.
The rankings are generated by measuring performance, and participation in maintaining the network as measured by the fio-bp-vote utility. Maintenance includes updating fees to keep pricing at a reasonable level, participating in contract updates, and a series of maintenance calls that optimize state or trigger reward payouts.
Check FIO Producer Ranking
The FIO Protocol serves the noble mission of making crypto accessible for the masses. The vision of FIO is to operate as a Decentralized Autonomous Consortia (DAC), guided by the community and blockchain ecosystem.
Here’s what makes FIO stand out:
- Simple FIO addresses that you can use and easily remember (for example, [email protected]) so you can forget about the long and complex blockchain public addresses
- Adding memos to your transactions
- Creating requests for money.
- Extensive ecosystem: integration into wallets, exchanges, dApps, and other crypto solutions.
FIO is a native token of FIO Protocol. The FIO Protocol runs on its own dPoS blockchain – the FIO Chain. As the internal economic driver, the FIO Token is utilized to pay for all fees necessary to write data to the chain.
While the FIO Token is necessary to utilize the FIO Protocol – users do not need to directly obtain the token, as the FIO Protocol is designed for the ability to accept indirect payments. Users can potentially pay for their FIO Protocol usage through intermediaries, including through the Foundation itself, and through using various other popular cryptocurrencies.
Maximum Total Supply: 1,000,000,000 FIO (38,506,000 of which are permanently locked)
Each token is divisible into 1,000,000,000 Smallest Units of FIO (SUF)
No inflation beyond the Maximum Total Supply
Is a single identifier that eliminates the need to see, or even know about, blockchain public addresses. It’s simple to register, easy to use, and works with every token/coin automatically.
FIO Crypto Handles (aka FIO Addresses) act as the human-readable wallet identifier for users on the FIO Protocol. They are necessary for users to utilize all the capabilities of the FIO Protocol, but also serve as a replacement for complicated public addresses across all tokens and coins in the user's wallet.
Registration of a FIO Crypto Handle is done directly through a FIO-enabled application, or through a hosted registration site that is open to the community.
To put in simpler terms, essentially staking is a lot like an interest bearing account; in this case a staking pool. You deposit your coins into the staking pool along with others. The smart contract distributes them to validators. When the validators complete their tasks they get rewards. Part of those rewards are then deposited into your account and the accounts of everyone who participated.
People are coming to crypto from different industries. In order to guide newcomers through complexities, providing them with the detailed information related to a blockchain, we work hard to create more educational content.Read our articles about FIO:
- 🇺🇸 Focus. Improvise. Overcome: FIO Protocol and making sense out of chaos
- 🇪🇸 Enfoque. Improvisar. Superado: Protocolo FIO y Sacando Sentido del Caos
- 🇹🇷 Odaklanın. Doğaçlama Yapın. Üstesinden gelin: FIO Protokolü ve kaostan anlam çıkarma