Are you ready to revolutionize your crypto trading experience? Enter the world of ShapeShift FOX Token—your passport to seamless, decentralized finance. ShapeShift offers a borderless, cross-chain trading platform and portfolio manager that empowers you to buy, sell, and earn across 15+ chains via mobile or web. What sets the FOX Token apart? Not only does it facilitate governance within the ShapeShift DAO, giving token holders a voice in critical decisions, but it also offers lucrative DeFi strategies to boost your holdings. But that's just the beginning. Dive in and discover how the FOX Token goes beyond conventional cryptocurrency to truly shape-shift your financial future. Continue reading to uncover the full potential of ShapeShift FOX Token.

What Is ShapeShift?

ShapeShift is a borderless, self-sovereign, cross-chain crypto trading platform and portfolio manager. The platform enables users to buy, sell, track, trade, and earn with over 10,000 assets such as Bitcoin, Ethereum, Dogecoin, THORChain, and Cosmos across more than 15 chains via mobile or web. Users can connect with over 150 software or hardware wallets, including ShapeShift, MetaMask, WalletConnect, KeepKey, and Ledger. MetaMask users can install the ShapeShift Multichain Snap to add support for Bitcoin, Dogecoin, THORChain, Cosmos, and more.

ShapeShift is a 100% self-custody platform, meaning users always control their keys. ShapeShift does not collect personal information and stands on the pillars of decentralization, privacy, and self-custody. The project’s governance and utility token, FOX, makes trading more competitively priced than going directly to DEXs through ShapeShift's bespoke aggregation.

ShapeShift was founded in 2014 as a privately held company based in Switzerland. However, in June 2021, the organization announced that it was becoming a fully decentralized project, open-sourcing all of its source code and turning ownership and governance over to the community of FOX Token holders. Its founder, Bitcoin pioneer Erik Voorhees, stated this decentralized model "is the only way to maintain user sovereignty."

How Many FOX Tokens Are There in Circulation?

The total capped supply of FOX is 1,000,001,337 tokens.

• 34% were granted to over 1.1 million ShapeShift customers and DeFi community members in the world’s largest token airdrop on June 30, 2021.
• 32% were granted to employees and shareholders before decentralization. These vest over three years from June 2, 2021.
• 24.2% were granted to the FOXDEN—the DAO governance treasury of the now decentralized ShapeShift.
• 7.5% were granted to the ShapeShift Foundation—a non-profit tasked with facilitating the transition to decentralization.
• 1.3% were retained by ShapeShift.
• 1% was already in circulation, held by over 21,000 ShapeShift users before the airdrop distribution event.

Who Are the Founders of ShapeShift?

ShapeShift was founded by Erik Voorhees and Jon ShapeShift (pseudonym). Erik Voorhees is among the top-recognized serial crypto advocates and entrepreneurs, communicating the virtues of Bitcoin as one of the most important inventions ever created. Having been a featured guest on Bloomberg, Fox Business, CNBC, RT, BBC Radio, and numerous crypto industry events, Erik humbly suggests that there is no such thing as a "free market" when the institution of money itself is centrally planned and controlled.

Before founding ShapeShift, Voorhees was the creator of SatoshiDICE, which popularized the concept of provable fairness and was responsible for most of the world’s Bitcoin transactions in 2012 and 2013. Prior to that, Erik was Head of Marketing at BitInstant in NYC.

Jon ShapeShift was Chief Product Officer and co-founder of ShapeShift and was responsible for driving product strategy, leading product development teams and efforts, and designing solutions that integrate the changing landscape of crypto, decentralized finance, and macroeconomics in general. He has been deeply involved in the founding and pioneering of online gaming and cryptocurrency platform companies, helping to propel ShapeShift to being one of the most internationally recognized crypto brands in the industry.

Where Can I Access ShapeShift, or Buy FOX Tokens?

Visit app.shapeshift.com, where you can begin trading, or download the app.

FOX Tokens are available for trading on a growing number of exchanges, such as Uniswap, THORChain, and Coinbase. Through ShapeShift’s integration with 0x, which aggregates liquidity from Uniswap and over a dozen other DEXs, FOX can be traded in ShapeShift’s web and mobile app.

Tokenomics and Distribution Model

The ShapeShift FOX Token (FOX) is an ERC-20 token created by ShapeShift, now ShapeShift DAO, in November 2019. The FOX Token serves as the governance token for the ShapeShift DAO, allowing holders of the token to vote on proposals relating to the treasury of the DAO and other essential governance matters. The total capped supply of FOX is fixed at 1,000,001,337 tokens, ensuring that FOX will never become an inflationary token.

Distribution Breakdown

• Public (Community): 34% of the total supply, or 340,000,000 tokens, were granted to the ShapeShift customers and DeFi community via an airdrop.
• Team (Insiders): 32% of the total supply, or 320,000,000 tokens, were granted to ShapeShift employees and shareholders during the decentralization period.
• DAO Treasury (Community): 24% of the total supply, or 242,000,000 tokens, were granted to the ShapeShift DAO Treasury, which is governed by FOX Token holders.
• Foundation: 7.5% of the total supply, or 75,000,000 tokens, were granted to the Foundation, which supports the DAO in achieving its mission of complete decentralization and manages the legacy centralized infrastructure.
• ShapeShift (Centralized): 1.3% of the total supply, or 13,000,000 tokens, were retained by ShapeShift during the decentralization process.

Vesting Periods and Lock-Ups

• Employees and Shareholders: The 32% allocated to employees and shareholders vest over three years from June 2, 2021.
• DAO Treasury: The 24% allocated to the DAO Treasury is governed by FOX Token holders and is used to fund proposals and initiatives that benefit the ShapeShift ecosystem.

Purpose and Utility of the FOX Token

The ShapeShift FOX Token (FOX) is a multifaceted cryptocurrency that serves several purposes within the ShapeShift ecosystem. Its primary functions are:

Governance

FOX is the governance token for the ShapeShift DAO, allowing holders to vote on proposals related to the treasury, such as adding features, approving partnerships, and managing budgets. Each FOX token is equivalent to one