The initial members were appointed from the pool of early industry participants in the FIO Protocol and served until one year after Mainnet launch. Starting April 15th, 2021, and then every four months thereafter, the Board conducts an ongoing poll among token holders for Board Member candidates and appoints new members from the pool of top 12 candidates by number of votes received.
The Foundation is governed by a Board of Directors of up to nine members.
One FIO Board member is a Cayman representative appointed by the other FIO Board Members.
The remaining up to 8 FIO Board members are selected by the existing board from a list of the top candidates which receive the most votes from FIO token holders.
Board members are compensated based on compensation set by the Board which is made public to the FIO community.
Send a FIO Request from any FIO-enabled wallet that has FIO Request functionality to boardvote@fio for any amount of FIO (the FIO won't be sent to you so the amount doesn't matter) from the FIO Crypto Handle which is owned by an account where you have FIO tokens you would like to vote. If your wallet does not support FIO Request, you may transfer your tokens to one that does including the FIO Dashboard, or import private key to it.
Include in the memo the candidate key from current list of candidates of each candidate for which you wish to vote, separated by commas (e.g., 25,21,22), no need for the FB- prefix. The order of the letters is not important.
Do not include any other information in your memo.
You can vote on maximum of 8 candidates. If your vote contains more candidates, only the first 8 will be considered.
If your vote contains invalid candidates or information, it will be ignored.
If you have multiple FIO accounts you will need to send a FIO Request from each separately to vote each of those accounts. However, if you have multiple FIO Crypto Handles registered to the same FIO Account (private key) you only need to vote with one of those FIO Crypto Handles.
You may update/change your vote at anytime just by sending a new FIO Request with your new voting preferences.
Board members must undergo KYC and cannot have been convicted of significant crime nor can they be a resident or citizen of any countries that are lists of restricted countries maintained by the U.S. and EU.
Responsibilities - check out Responsibilities section above.
Board members are not guaranteed any compensation. However, the Board may approve modest token stipends to Board members consistent with the Articles of the Foundation. All such compensation will be made public.