Background
Today a FIO Address is valid for a period of 1 year from registration. If not renewed it gets burned 90 days later. This can be problematic for a few reasons:
It’s up to the integrating wallet to notify the user to renew, which may be challenging for wallets which do not collect contact information from their users.
Users may not be using their wallets often enough to notice the need to renew.
As discovered in a recent Usability Study some users will abandon FIO Protocol if they have to pay an annual fee or due to the fear that expiring FIO Address may compromise their security (someone else re-registers).
FIO Protocol already includes the notion of bundled transactions. Every FIO Address comes with 100 bundled transactions which are used up when the user uses the protocol. They have to purchase new bundles at a rate that is reflective of their usage rather than time.
Addresses will start to expire on June 22nd, 2021 when up to 7,520 FIO Addresses will be burned, so it would be best to implement this solution by then.
As of 5/12/2021 only 218 FIO Address renewal calls have been executed.
Elimination of FIO Address expiration and renewal fees
This proposal is to eliminate the notion of expiration date for FIO Addresses. FIO Addresses will never expire and will be owned by the owner permanently until transferred, voluntarily burned, or burned due to expiring domain.
There will still be a fee to register a FIO Address for the first time.
There will still be a fee to register and renew a FIO Domain.
The FIO Address will still be burned once its FIO Domain is burned.
Initiative link
https://fioprotocol.atlassian.net/browse/WP-402
Discussion call
@ 8:00AM MDT (GMT-6)