FIO Protocol

What is FIO Protocol

FIO Protocol is a distributed proof-of-stake chain wherein FIO token holders choose BPs by voting for producers or proxying their vote.The FIO token itself is a utility token that can be used to pay fees on the FIO blockchain such as registration of FIO Addresses and FIO Domains.

Proof of Stake

FIO Validators are called Block Producers (BPs).

Top 42 Block Producers, determined by vote will receive rewards. All 42 will get 60% of the entire pool distributed pro-rata based on votes they received. Scheduled block producers (top 21 in Payout Schedule) will receive 40% of the entire pool divided by number of scheduled block producers.

Anyone with FIO tokens can vote or proxy their vote to a Block producer by staking to earn rewards. 25% of all Token fees collected willl be distributed to stakers as rewards. There are also Staking Rewards Token minted to ensure the daily pool of rewards is at least 25,000 FIO.

Staking

There is no minimum staking amount when delegating to a validator. You can choose the amount of FIO tokens to stake in the wallet. A small amount of which will go to fees.

While your FIO tokens are being staked, they remain in your wallet while you earn staking rewards. The Staking method ensures that stakers of FIO Tokens will always earn a positive return — meaning they receive more FIO Tokens back when they unstake than the number they staked.

Rewards

Rewards are given in FIO tokens and users will have to claim rewards

Unstaking

Unstaked tokens are locked and are unspendable for a period of 7 days.