What Is ShapeShift?

ShapeShift is a borderless, cross-chain crypto trading platform and portfolio manager for user self-sovereignty. The platform enables users to buy, send, receive, swap, and manage assets via mobile interface or web platform, and lets them choose to use a range of software or hardware wallets, including ShapeShift native, Portis, KeepKey, Trezor, and Ledger.

ShapeShift is a 100% self-custody platform, meaning the user always controls their keys. ShapeShift does not collect personal information and adds no trading fees. The project’s governance and utility token, FOX, granted on all trades, makes trading more competitively priced than going directly to DEXs.

ShapeShift was founded in 2014, originally 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. It’s 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 1.1M 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 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 v2 and v3. 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.

New to cryptocurrency? Read CoinMarketCap’s easy guide to buying Bitcoin or any other token.

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