Staking Partner Communication

Owned by Pawel Mastalerz
Last updated: Jun 08, 2021 by Luke Stokes
2 min read

Subject: FIO Staking coming soon. Wallets and Exchanges Can Earn Income and Gain Users!

Hello FIO Integrated Partner,

The FIO community has recently accepted a FIO Improvement Proposal (FIP) 21 to add staking capability to the FIO Chain with functionality targeted for mid/late summer.

 

Benefits for Wallets and Exchanges that Enable Users to Participate in FIO Token Staking:

  • Income: 10% of all staking rewards earned by your wallet/exchange users are automatically allocated to your company via your FIO Technology Provider ID (TPID).

  • More Users: Products that enable FIO Staking within the first couple months after it is available will be included in all FIO marketing and promotional activities which will direct users desiring to stake FIO tokens to those products.

 

How Will FIO Staking Work?

  • Any token holder who has ever voted or proxied their tokens (including auto-proxy if implemented in a FIO enabled wallet) is eligible to stake any amount of FIO tokens they are holding in their account.

  • When staked, FIO tokens earn a portion of the fees collected by the chain as staking rewards.

  • In addition, the Foundation has allocated 25M FIO tokens which will provide a pool of guaranteed token allocations for early participants who stake.

  • Staked FIO tokens cannot be transferred or spent on fees, but when unstaked, the the full principal and any earned rewards are made available in the user’s account after a mandatory 7 day unstake period.

  • For a more detailed explanation see this FIO Blog Post.

  • The earlier the user stakes their tokens the higher their share of staking rewards – so make sure your users get access early!

 

Information on Enabling Staking:

Want to enable FIO Staking, take a look at the technical documentation and feel free to reach out to discuss. Partners who make their integration available around the launch date, will be part of our marketing campaign to promote FIO Staking.