What is FIO?
FIO stands for the Foundation for Inter-wallet Operability. A non-profit foundation dedicated to providing usability features for simplifying the use of cryptocurrency for mass adoption. FIO believes that for cryptocurrency to become mainstream, it needs to be easy for a 5-year-old to understand and this philosophy led to the creation of a suite of usability features that makes onboarding easy and interaction experience with crypto smoother for the entire blockchain industry.
What Solution Has FIO Provided?
FIO has a long roadmap of solutions i don’t see ending anytime soon. To mention a few is
FIO Crypto Handle: The crypto handle is a single username@domain that replaces copying and pasting of wallet addresses. The username is similar to a person’s first name while the @domain part represents the domain name of the wallets or exchanges and perhaps can be a privately registered domain like your surname. This is similar to ENS or Unstoppable domain but more robust in the sense that apart from both the username and domain existing as NFTs; the FIO Crypto handle handles transactions privately. (no one can trace your wallet address to your username) as it is seen exposed with previous solutions. It also supports all chains and tokens making it a truly universal username for your crypto transactions. Mapping thousands of wallet addresses to a username doesn’t cost a penny as in previous solutions where you’ll have to pay gas fees each time to map addresses. User risk with name resolution is also extremely low as the process happens in a completely decentralized way. For name resolution to be compromised, this would require a complete hijack of the FIO chain. The FIO block producers consist of over 32 members and increasing, spread across the world, and is comprised of users of the protocol itself (wallets and exchanges) who propose and execute improvements by voting through its governance model.
FIO Send: The FIO Send feature is what makes it possible for users to send crypto FIO crypto handles, eliminating the need to copy and paste wallet addresses. A total of 20 wallets and exchanges currently supports the feature and increasing.
FIO Request: The FIO request makes it possible for users to request payments from other users using any of the FIO-enabled wallets or exchanges. This is ideal for e-commerce websites accepting crypto payments. An example is the coinpayments integration of FIO request feature.
FIO Data: This makes it possible to record the purpose of the transactions right on the blockchain.
Other features which i may not take time to explain here are multi-signature capabilities, NFT forgery prevention and many more.
Why Should Metamask Integrate FIO Send?
Apart from the obvious reasons above which is easy onboarding, ease of use, and smoother experience. FIO Crypto handle helps to prevent loss of funds. Metamask is fast becoming a multi-chain cryptocurrency wallet with thousands of tokens. It can be really hard to keep track of these chains, coins, and tokens and the possibility of sending crypto to the wrong chains despite being the same wallet address is pretty high. This is a mistake I have made in recent times making me lose some tangible amount of crypto. FIO Crypto handle helps you to automatically filter out the chain you’re sending your tokens to and delivers it to the right destination. If you make a mistake, it returns an error making you retain your valuable crypto in your wallet.
Secondary to that by implication, is that help you reduce the time spent on support attending to people who lost crypto sending to wrong addresses/chain. This time can be better utilized doing other productive works to benefit the community.
Above all, FIO Send stands as the cheapest solution for users and fastest feature to integrate which takes only about 5 hours of productive time to integrate and be ready for use. I hope the community finds this feature useful and appealing. If so kindly vote! Thanks for your time.
I will accompany this post with a mail to support for further discussion. Thanks.