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Ethereum Exchange

What is the FOX token used for?

How the FOX token is used. Shapeshift is an exchange that’s being decentralized with the launch of the token.

FOX token

FOX is the governance token of Shapeshift exchange.

FOX token is used for

  • Decentralize and dissolve the company Shapeshift.
  • Governance
  • Yield farming
  • Rewards

How could value accrue to the token?

Fees

  • Revenue from Shapeshift will go to DAO treasury

Holding

  • 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

Features 

  • 0x DEX integration
  • Cross-chain with Thorchain integration
  • Non-custodial
  • No account or KYC

ShapeShift DAO

  • Treasury with 240 000 000 tokens (24%).

Governance parameters 

  • 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.

DOCS

FOX Tokenomics

Total supply: 1,000,001,337

Distribution

  • 34% – ShapeShift customers and DeFi community
  • 32% – Employees and shareholders
  • 24% – ShapeShift DAO (governance treasury)
  • 7.5% – Foundation
  • 1.3% – Decentralization process

Contract

FOX token address

Fox token airdrop

Shapeshift is airdropping the token to over 1M eligible wallets. Check the airdrop here.

It did not have a token sale.

Similar projects

FOX Token price

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