In August 2023, FIO Protocol made several significant updates and initiatives, including a new partnership with BigWater, substantial progress in token staking, and innovations in domain names.
FIO's Partnership with BigWater
FIO Protocol announced a collaboration with BigWater, allowing BigWater users access to FIO Handles. This partnership aims to simplify the connection between Web3 identity and real-world climate impact.
Community Achievements: Over 74 Million Tokens Staked
The FIO community has shown confidence in its vision by reaching over 74 million staked tokens. This is a significant step towards ensuring network security and governance participation. Staking tokens provides rewards and strengthens the decentralized network.
FIO Domains Innovations and Community Engagement
FIO is testing a groundbreaking update for FIO Domains through the FIP-51 proposal, which will dramatically reduce domain renewal costs to just a few dollars per year. This will allow users to own domains for over 50 years. Additionally, FIO Quiz 2.0 and FIO Board Elections are examples of active community involvement and participation in decision-making processes.
In August, FIO Protocol demonstrated significant progress in both development and community engagement, creating a solid foundation for the future of Web3 identity.
