ShapeShift FOX FOX Price

What is ShapeShift FOX (FOX)?

ShapeShift, established in 2014 by Erik Voorhees and Jon ShapeShift, has undergone a notable transformation from a privately held company in Switzerland to a fully decentralized crypto trading platform. This evolution, marked by the introduction of the ShapeShift FOX Token (FOX), positions the platform as a proponent of decentralization and user empowerment.

ShapeShift's Decentralization Initiative:

In June 2021, ShapeShift made a strategic shift towards full decentralization, open-sourcing its source code and relinquishing ownership and governance to FOX Token holders. This move aligns with the platform's commitment to user sovereignty, eliminating centralized control and fostering community involvement in decision-making processes.

FOX Token: Governance and Utility:

FOX Token, with a capped supply of 1,000,001,337 tokens, functions as both a governance and utility token. Distributed among various stakeholders, including customers, employees, shareholders, the DAO governance treasury, the ShapeShift Foundation, and the platform itself, FOX allows holders to actively participate in shaping the platform's future through the ShapeShift DAO.

User Sovereignty and Self-Custody:

ShapeShift emphasizes user sovereignty and self-custody, providing a platform for trading, tracking, and managing assets across 15+ chains. Users retain 100% control over their keys, and the platform does not collect personal information, ensuring a decentralized and private trading experience.

Trading and Portfolio Management:

ShapeShift's platform facilitates the buying, selling, tracking, and trading of over 10,000 assets, including popular ones like Bitcoin, Ethereum, Doge, THORChain, and Cosmos. Integration with MetaMask and support for various wallets ensure accessibility and flexibility for users managing their portfolios.

Competitive Pricing and Incentives:

The FOX Token contributes to competitive pricing on the ShapeShift platform. Allocated with each transaction, it aims to create a system beneficial to users. FOX holders receive additional incentives on the platform, fostering increased engagement and retention.

Conclusion:

ShapeShift's journey towards decentralization and the introduction of the FOX Token underscores its commitment to a user-centric and community-driven approach. By embracing a decentralized model, ShapeShift aims to redefine the crypto trading experience, providing users with increased control and privacy. As the platform continues to evolve, ShapeShift and the FOX Token remain influential players in shaping the future landscape of decentralized finance.

What is unique about ShapeShift FOX (FOX)?

ShapeShift stands out for its transition to a fully decentralized crypto trading platform, offering users 100% self-custody and control over their keys. The FOX Token, as both a governance and utility token, empowers users to actively shape the platform's future, making it a unique player in the decentralized finance (DeFi) space.

Who are the founders of ShapeShift FOX (FOX)?

ShapeShift was founded in 2014 by Erik Voorhees and Jon ShapeShift (pseudonym). Erik Voorhees, a well-known figure in the crypto space, played a pivotal role in shaping the platform and advocating for the virtues of Bitcoin.

Who are the backers/investors of ShapeShift FOX (FOX)?

ShapeShift has undergone a transformation, embracing decentralization and community involvement. The shift towards a fully decentralized project in 2021 reflects a commitment to community-driven governance. Coinbase Ventures is one of the biggest backer of the project.

Where can I buy ShapeShift FOX (FOX)?

You can buy ShapeShift FOX (FOX) on MEXC, Gate.io, Coinbase, CoinEx, Uniswap V3 (Arbitrum One) cryptocurrency exchanges.