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New Listing: Fio Protocol (FIO) Token
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In addition to listing the FIO Token on Liquid on November 16, 2020, we are excited to announce that we aim to integrate FIO protocol into our trading platform’s deposit/withdrawal interface during December, 2020!
What is FIO Protocol?
The FIO Protocol (FIO) aims to make crypto products more accessible and easy to use for everyone. It was launched as a distributed service layer, which provides cross-platform usability enhancements to existing wallets, exchanges, applications, and any other cryptocurrency endpoint. The goal of FIO Protocol is to improve crypto usability and enhance the user experience.
What are the features of FIO Protocol?
Using FIO protocol, users can rely on a human-readable crypto identity as they register and make transactions. FIO Addresses eliminate the need for users to see and interact directly with blockchain public addresses. These unique address identifiers can support every token or coin smoothly and automatically. As a result, Liquid users will be able to deposit crypto into their Liquid account simply by sending to their Liquid-assigned FIO Address from any other FIO-enabled wallet or exchange. Likewise, they will be able to withdraw crypto from Liquid simply by sending to the FIO Address of any FIO-enabled exchange or wallet.
In addition, FIO Requests, already available on the FIO Protocol, allow users to request a specific amount from a wallet or exchange. FIO Request functionality will also soon become available on Liquid for the purpose of making crypto deposits. Users will indicate the type and number of tokens they wish to deposit and a FIO Request will be sent to their FIO-enabled wallet where they simply confirm the transaction. This will help reduce the errors that can occur when sending and receiving cryptocurrencies between addresses and make the user experience more seamless when completing transactions.
FIO Data helps provide a context to the transactions by allowing standardized attachment of metadata to every transfer. Users can easily retrace the purpose and details of their past transactions.
With these promising features, the integration of FIO into Liquid marks a milestone in improved crypto usability for traders.
How is FIO integrated?
FIO Protocol has been integrated on a wide variety of cryptocurrency wallets, namely Edge Wallet, Guarda Wallet, ShapeShift wallet, Coinoimi wallet, Midas Protocol, Anchor, Scatter Wallet, Mycelium, Infinito Wallet, and BRD.
With both the listing of the FIO token and the integration of FIO on Liquid, we are becoming less reliant on the use of public addresses for our platform.