To promote the development and adoption of the FIO Protocol, FIO has established the Interwallet Operability Foundation, a non-profit foundation in the Cayman Islands, whose functions do not include managing or otherwise controlling the FIO Protocol. The Foundation's mission is to promote the adoption of blockchain through a decentralized, industry-standard, industry-governed, cross-platform, and chain-agnostic usability protocol.

Responsibilities of the Foundation

● Manage the Foundation account; ● Raise awareness and education about the FIO Protocol; ● Support official FIO members to integrate the FIO Protocol; ● Develop tools (i.e. SDKs) to enable easier integration; ● System management and submission process, and provide impact statements for FIO Improvement Proposals (FIPs); ● Create and fund original code enhancements to the FIO Protocol and submit them as FIPs; ● Fund other projects that benefit the ecosystem and provide bug bounties. The Foundation will manage, vote, and govern as a Decentralized Autonomous Consortia (DAC), running on top of the FIO Chain.

Foundation Account

The three main types of participants in the foundation

● FIO Members: Wallets, exchanges, crypto payment processors, and other entities that integrate the open source FIO Protocol into their products can become FIO Members. FIO Members receive special incentives primarily to facilitate their timely integration of the protocol, but do not have any special rights or abilities surrounding the FIO Protocol itself.

● FIO Ecosystem: includes other blockchain protocols, academic institutions, and various blockchain-related entities that support the FIO Protocol with technical, academic, or security-related expertise.

● FIO Token Holders: All FIO token holders have on-chain voting rights on various governance-related issues.

● Nodes: Allow all token holders to vote directly or through proxy voting, allowing nodes to provide resources to the FIO blockchain. By default, token holders will vote based on the TPID of the application they use (in most cases, the wallet, exchange they use).

● Board and Foundation Voting: As FIO continues to move toward decentralized governance, FIO token holders will have the opportunity to participate in Foundation governance by voting to decide whether individuals can join the FIO Board of Directors. In order to comply with Cayman Islands law, the Board of Directors will be composed of the top 12 vote-getters selected by the current FIO Board of Directors. You do not need to join the Foundation or become a node to use or integrate the FIO protocol.