The Foundation for Interwallet Operability (FIO) is excited to announce the release of FIO Staking in Edge Wallet.
➡️ Stake your $FIO in Edge Wallet now
FIO Staking is a recently launched option for FIO token holders to participate in the network’s on-chain governance and earn yield. The integration of FIO Staking in Edge marks the next step toward further expansion of the FIO Protocol, as well as creating an additional interface in Edge for users to earn yield on their assets.
Commenting on the addition of FIO Staking to Edge, Luke Stokes, Managing Director at FIO, said:
“Paul Puey and the Edge team have been leading the way within the FIO consortium of wallets and exchanges that care deeply about improving the cryptocurrency user experience. We’re very excited to have them as one of the first products to support FIO Token staking to close the loop on the FIO Protocol decentralized business model where the FIO chain economically supports, via fee distribution, those who secure the chain as validators, voters, foundational coordinators, and integrators.”
Edge users can already create their FIO Crypto Handles for free inside the wallet, and use that to send, receive, and request any type of cryptocurrency using a single, human-readable identifier (e.g. jane@edge) in place of long-string and complex public wallet addresses. No registration fee for a FIO Crypto Handle is required.
By adding support for FIO Staking, Edge offers a new way to interact with the protocol and contribute to further adoption of crypto.
FIO Staking Details
The FIO Staking mainnet went live on January 18.
$FIO holders can choose to stake any amount of tokens they hold in their account.
When a $FIO token is staked, it immediately begins to accrue rewards and stays locked until revoked. Tokens can’t be spent while being staked, and will remain locked for 7 days after they have been unstaked.
FIO Staking rewards come from the network’s Staking Rewards Pool, a protected rewards fund which accumulates 25% of all fees paid on the FIO chain. If the total daily amount of the network’s fees redirected to the pool is less than 25,000 FIO, new tokens are minted and sent to Staking Rewards Pool.
Important Notice:
Users can stake and unstake their tokens at any time; however, during the initial stage, rewards are only available for redemption after the Staking Activation phase commences on February 22, 2022.
If a user unstakes their tokens prior to Staking Activation, they will not receive any accrued rewards.
For full technical details of FIO staking please refer to the project’s GitHub page.
Stake your $FIO in a Matter of Seconds
Staking $FIO in Edge is just a few taps away on any mobile device:
- On the Wallets screen in Edge, tap the + symbol
- Choose FIO as your wallet type
- Specify the fiat currency denomination of your wallet
- Name your wallet and confirm details to create wallet
- Click into your FIO wallet and select ‘Stake’
- Enter the amount of $FIO you’d like to stake
Want to Stake $FIO? Try Edge today!
Edge has always prioritized the user experience surrounding wallet creation and smooth interaction with blockchain protocols. FIO helps to dramatically reduce the friction of interacting with alphanumeric blockchain addresses, and the integration of FIO Staking in Edge helps to give users an easy way to interact further with this protocol.
Thanks to robust infrastructure and readily available exchange integrations, all inside of an easy to use self-custody application, Edge has now introduced another way to be a part of the FIO Protocol.
About FIO:
FIO, the Foundation for Interwallet Operability, is a decentralized consortium of blockchain organizations and community members supporting the ongoing development, integration, and promotion of the FIO Protocol. The protocol is an open-source, decentralized usability layer solution that works across all blockchains, and uses human-readable Crypto Handles to replace the complexity, risk, and inconvenience that comes with blockchain-based transactions using public addresses.
