FOX is the governance token of Shapeshift exchange.
FOX token is used for
- Decentralize and dissolve the company Shapeshift.
- Yield farming
How could value accrue to the token?
- Revenue from Shapeshift will go to DAO treasury
- Rainfall rewards – raffle of tokens whenever someone trades. The more tokens you hold the more likely to receive prize.
- Gas reimbursement – 10% of the value of held FOX tokens can be reimbursed within 30 days.
What is Shapeshift?
Shapeshift is an exchange created in 2014. With the launch of the token shapeshift is now dissolving its corporate structure and decentralizing and open sourcing the exchange.
Shapeshift is airdropping the token to over 1M eligible wallets.
- 0x DEX integration
- Cross-chain with Thorchain integration
- No account or KYC
- Treasury with 240 000 000 tokens (24%).
- 100 tokens for proposal
- 4000 000 tokens required to reach quorum.
- 72 hr voting period
Shapeshifts new DEX protocol has a number of integrations and features for DeFi and crosschain and layer2 interoperability. Read more here.
Total supply: 1,000,001,337
- 34% – ShapeShift customers and DeFi community
- 32% – Employees and shareholders
- 24% – ShapeShift DAO (governance treasury)
- 7.5% – Foundation
- 1.3% – Decentralization process
Fox token airdrop
Shapeshift is airdropping the token to over 1M eligible wallets. Check the airdrop here.
It did not have a token sale.