Key Points
- Binance will launch futures trading for FIO today.
- The FIOUSDT Perpetual Contract will launch with up to 75x leverage.
Binance revealed the launch of futures trading for FIO at 11:30 (UTC) today. The FIOUSDT perpetual contract will launch with up to 75x leverage.
Binance has been launching various futures contracts to expand the trading choices and overall experience for users.
Following the exchange’s announcement, the price of FIO Protocol (FIO) surged considerably today.
At the moment of writing this article, FIO is trading above $0.04, up by 57% in the past 24 hours. Earlier, the token reached a price of over $0.46.
The token currently has a market cap of over $33 million.
What is FIO Protocol (FIO)?
FIO Protocol (FIO) is a decentralized, open-source usability solution that enables easier crypto transactions on all blockchains. It does this by replacing complex wallet addresses with a single, customizable, and human-readable Crypto Handle in the format of username@domain.
Such Crypto Handles can be used for sending, receiving, requesting, and signing any type of crypto transaction as easy as sending an e-mail.
FIO Protocol has the mission to make crypto easy to use by removing the risks of human error when transacting with long-string wallet addresses on different blockchains and network types.
FIO integrates into any type of dApp and has a growing partner ecosystem. This ecosystem consists of over 75 wallets, exchanges, marketplaces, payment processors, and gaming platforms, including its app FIO Dashboard.
Key FIO Protocol features include the following:
- FIO, its native utility token used for transaction fees and the governance on FIO Protocol’s native DPoS blockchain, FIO Chain
- Wrapped FIO, a tokenized version of the native FIO token that runs on Ethereum
- FIO Crypto Handles explained above
- FIO Domains which allow users to fully customize their FIO Crypto Handles
- FIO Requests which allow users to initiate crypto payment requests via Crypto Handles similar to PayPal/Venmo
- FIO Data, transaction metadata that supports decentralized commerce by enabling secure storage of on-chain data transaction
