FIO Release 2.2 on Mainnet

Nov 6 · 2 min read
Image for post
Image for post

FIO release 2.2 was deployed on Mainnet on November 5th. This release includes the following new features:

  • Adds the ability to burn FIO Addresses
  • Makes FIO Addresses optional when voting for a block producer or proxying a vote
  • Updates Block Producer Fee setting to make it easier to respond to changes in the price of the FIO Token

For more information please read our detailed overview below, or refer to the Version 2.2 Release Notes.

Detailed Overview

An owner should be able to burn their FIO Address ahead of expiration if they no longer wish to use it and want to purge all associated data. There are many reasons why someone would want to burn their FIO Address including business/personal requirements, cost effectiveness, or spam prevention. FIP-7 adds a new burnaddress contract action that enables the burning of a FIO Address.

Currently voting for a block producer or assigning your votes to a proxy requires that a user have a FIO Address. The FIO Address is needed to allow payment with bundled transactions instead of FIO tokens. FIP-9 makes voting and proxying votes easier for FIO users by allowing voting and proxying even when the token holder does not have a FIO Address. The FIO Address field can now be left blank when calling vote_producer and proxy_vote.

It is critical that fees associated with transactions on the FIO blockchain are set appropriately. Fee setting can be difficult for FIO Block Producers, who are in charge of fee setting for the protocol, due to fluctuations in the price of the FIO Token. FIP-10 updates the FIO fee voting functionality and enables Block Producers to set fee ratios (the relative cost of different transactions on the FIO blockchain) and fee multipliers (a single number that can be adjusted to track the price of the FIO Token). Subsequently, the multiplier can be adjusted in response to FIO Token price fluctuations.

FIO Blog

Making Crypto Products Easier, So Anybody Can Use Them

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store