If you’re reading this, chances are that you’ve heard all about FIO, the protocol: The interoperability aspect, the NFT authentication, the FIO handles and domains, or all the problems we solve in the blockchain space.
But here’s something we don’t often talk about: The FIO token.
While we do not cover any speculative or investment aspects, today we want to go over the utility of FIO tokens and how they are useful for so many reasons.
For instance:
FIO tokens are used on-chain to register FIO handles (the second one, the first one is on the house). They are also used to register and renew FIO domains, send FIO requests, and a bunch of other operations that enhance the user’s crypto experience.
All these operations required a small fee in bundled transactions which is where the FIO tokens are needed.
Suppose you want to protect your NFT from copycats, all you have to do is sign your NFT under your own handle, and voila.
Such a small step requires a small fee however, whether those NFTs are minted on Ethereum, Polygon, Solana.. Or even an ordinal on the Bitcoin chain.
And that small fee is paid in $FIO tokens, which demonstrates the need for $FIO, the cryptocurrency.
On top of that, FIO is the only decentralized and self-sovereign solution that is interoperable with all coins and tokens on all blockchains.
As more and more chains and wallets keep adopting interoperable crypto handles, the more need for FIO Tokens will grow no matter which blockchain the domains are operating on.
These are just some of the utilities of $FIO.
Stay tuned for more!
About FIO
FIO, the Foundation for Interwallet Operability, is a decentralized consortium of blockchain organizations and community members supporting the ongoing development, integration, and promotion of the FIO Protocol. The protocol is an open-source, decentralized usability layer solution that works across all blockchains, and uses human-readable Crypto Handles to replace the complexity, risk, and inconvenience that comes with blockchain-based transactions using public addresses. FIO Protocol is built on the FIO Chain, a dPoS blockchain fueled by ecosystem utilization of the FIO Token ($FIO).
