What is Shapeshift FOX Token (FOX)

I.  Project Introduction

  Founded in 2014 by Bitcoin veteran Erik Voorhees, ShapeShift is the only cryptocurrency trading platform offering zero-commission crypto trading and self-custody. ShapeShift.com allows users to buy crypto with fiat, trade, track, and secure their crypto through a simple and beautiful web interface. Users always stay in control of their keys.

Tags:DeFi, DEX

Project timeline:

Wallet Support
-Implement support for additional wallets, including but not limited to MetaMask, Trust Wallet, WalletConnect, and Gnosis Safe. We’re considering onboard.js for this.

Open Sourcing
-Open source all ShapeShift code and infrastructure.
-Replace or decentralize functionality that currently relies on centralized infrastructure, such as ShapeShift oAuth.
-Anything that cannot be open-sourced in the short-term will be run by the Foundation with the intention of it open-sourcing and decentralizing when possible in coordination with the community.

Additional Blockchains
-Add support for a growing list of blockchains, with the ultimate goal of enabling projects to easily add their own blockchains.

DEXs
-Add support for DEX aggregators on additional EVM-compatible chains.
-Add cross-chain swapping capabilities for new assets as they become available on THORChain.

DeFi
Enable users to provide liquidity on THORChain and earn yield on a growing number of assets and blockchains, including native BTC.
Enable users to easily deposit to Yearn vaults, and deposit all revenues earned through Yearn’s affiliate partnership to the ShapeShift DAO.
Enable users to view and manage positions across a growing list and variety of protocols (borrowing, lending, yield-generating, etc.). This includes protocols like Aave, Compound, Alchemix, and Liquidity.
Enable users to “zap in” to DeFi positions, which would otherwise require multiple transactions.
Enable users to transfer assets across blockchains via decentralized bridge protocols.

Layer 2
-Add support for a growing list of Ethereum Layer 2 solutions, with the ultimate goal of enabling projects to easily add support for their own Layer 2.-
We have explored implementing support for Bitcoin’s Lightning network, but unfortunately have yet to find a viable solution for supporting Lightning that is both non-custodial and also doesn’t require users to run full nodes. However, if the community can determine a viable path, we would love to support Lightning.

Team background:

Erik Voorhees - Founder of ShapeShift, an interface for digital assets. He was one of the earliest bitcoin and cryptocurrency advocates.

II.  Token Information

2.1 Token Basic Information

Token Name:  FOX

Total supply:  1,000,001,337 FOX

Tokens in Circulation:  117,022,448 FOX(16 September 2021)

2.2 Token Distribution and Token Release Schedule

34% – ShapeShift customers and DeFi community
32% – Employees and shareholders (3 year vesting starting from 2nd June 2021)
24% – ShapeShift DAO (governance treasury) 3 year vesting starting from 2nd June 2021
8% – Foundation 
1% – Shapeshift decnetralization 
1% – Already in circulation 

III. Related Links 

Official Website:  https://shapeshift.com/

Blockchain explorer:  https://etherscan.io/token/0xc770eefad204b5180df6a14ee197d99d808ee52d

Twitter: https://twitter.com/ShapeShift_io

Telegram: https://t.me/shapeshiftofficial

Medium:  https://medium.com/shapeshift-stories

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error, or omission. HTX does not take responsibility for any resulting direct or indirect losses.

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HTX reserves the right in its sole discretion to amend, revise or cancel this announcement at any time and for any reasons without prior notice. The above is for information purposes only and HTX makes no recommendations or guarantees in respect of any digital asset, product, or promotion on HTX Global. Prices of digital assets are highly volatile and trading digital assets is risky. Please read our Risk Remindertext here.