Article Summary, Automatically Generated By AI
Summary of ShapeShift FOX Token
Key Points
- ShapeShift is a borderless, self-sovereign, cross-chain crypto trading platform and portfolio manager.
- It enables users to buy, sell, track, trade, and earn with 10,000+ assets across 15+ chains.
- Users can connect with over 150+ software or hardware wallets.
- ShapeShift is a 100% self-custody platform, meaning users always control their keys.
- The project’s governance and utility token is FOX.
Token Distribution
- Total capped supply of FOX: 1,000,001,337 tokens
Introducing Shapeshift FOX Token: A Revolutionary Cryptocurrency
Introducing ShapeShift: A Pioneering Cryptocurrency Exchange
ShapeShift is a decentralized, autonomous, and interoperable crypto trading platform and portfolio manager, transcending geographical boundaries. The platform empowers users to seamlessly buy, sell, track, trade, and earn with an extensive array of 10,000+ assets, including Bitcoin, Ethereum, Dogecoin, THORChain, and Cosmos, across 15+ blockchain networks, accessible via mobile or web interfaces. Furthermore, users can effortlessly connect with over 150+ software or hardware wallets, including ShapeShift, MetaMask, WalletConnect, KeepKey, and Ledger. Notably, MetaMask users can conveniently install the ShapeShift Multichain Snap to expand support for Bitcoin, Dogecoin, THORChain, Cosmos, and many more.
ShapeShift is a fully decentralized, 100% self-custody platform, where users retain absolute control over their private keys. Upholding the principles of decentralization, privacy, and self-custody, ShapeShift refrains from collecting personal information. The project’s governance and utility token, FOX, enables trading at competitively priced rates, surpassing direct DEX transactions through ShapeShift’s proprietary aggregation technology.
Founded in 2014 as a privately held company based in Switzerland, ShapeShift underwent a transformative shift in June 2021, when it announced its transition into a fully decentralized project. This pivotal move entailed open-sourcing its entire source code and relinquishing ownership and governance to the community of FOX Token holders. According to its founder, Erik Voorhees, a pioneer in the Bitcoin space, this decentralized model is the only way to ensure the preservation of user sovereignty.
The Circulating Supply of FOX Tokens: A Closer Look
The total capped supply of FOX tokens is fixed at 1,000,001,337, ensuring a finite and scarce digital asset.
In a groundbreaking feat, 34% of the tokens were distributed to a staggering 1.1 million ShapeShift customers and DeFi community members worldwide, setting a record for the largest token airdrop in history on June 30, 2021.
A significant allocation of 32% was designated for employees and shareholders prior to decentralization, with a vesting period of three years commencing on June 2, 2021.
A significant allocation of 24.2% was designated for FOXDEN, the decentralized autonomous organization (DAO) governance treasury of the newly decentralized ShapeShift.
A 7.5% allocation was designated for the ShapeShift Foundation, a non-profit entity dedicated to facilitating a seamless transition towards decentralization.
A modest 1.3% was retained by ShapeShift.
Prior to the airdrop distribution event, a significant 1% of the total supply was already in circulation, held by a substantial base of over 21,000 ShapeShift users.
The Visionaries Behind ShapeShift: Meet the Founders
ShapeShift was co-founded by Erik Voorhees and Jon ShapeShift (pseudonym), a visionary duo. Erik Voorhees, a renowned serial entrepreneur and crypto advocate, has been a vocal proponent of Bitcoin, hailing it as one of the most groundbreaking inventions in history. As a prominent figure, he has been featured on esteemed platforms such as Bloomberg, Fox Business, CNBC, RT, and BBC Radio, as well as numerous crypto industry events. With humility, Erik posits that the notion of a “free market” is an oxymoron when the very fabric of money itself is centrally planned and controlled.
Prior to establishing ShapeShift, Voorhees pioneered the concept of provable fairness with SatoshiDICE, which dominated the global Bitcoin transaction landscape in 2012 and 2013. Earlier, he served as Head of Marketing at BitInstant in NYC.
Jon ShapeShift, Co-Founder and former Chief Product Officer of ShapeShift, spearheaded the company’s product strategy, led high-performing development teams, and crafted innovative solutions that seamlessly integrated the evolving crypto landscape, decentralized finance, and macroeconomic trends. With a storied background in pioneering online gaming and cryptocurrency platforms, Jon played a pivotal role in establishing ShapeShift as a globally recognized and esteemed crypto brand.
Accessing ShapeShift and Acquiring FOX Tokens: A Guide
Discover the world of seamless trading at
app.shapeshift.com
, where you can initiate your trading journey or download the app to get started.
FOX Tokens are now accessible for trading on a burgeoning array of exchanges, including Uniswap, THORChain, and Coinbase. Furthermore, through ShapeShift’s strategic integration with 0x, which aggregates liquidity from Uniswap and over a dozen other decentralized exchanges (DEXs), FOX can seamlessly be traded within ShapeShift’s web and mobile application.