Overview of the ShapeShift (FOX) project

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2022-06-23 22:53:41

ShapeShift Project

What is ShapeShift (FOX)?

ShapeShift is a DEX aggregator (liquidity aggregator from various DEXs).

The platform has partnered with 0x and THORChain to integrate more than 50 DEXs and around 1,000 trading pairs in a single interface. ShapeShift users do not need to pay commissions for their transactions.

In the future, ShapeShift will integrate Osmosis, CowSwap and other DEX aggregator to increase the trading pairs available on the platform.

Products of ShapeShift

ShapeShift Platform

The ShapeShift platform is a liquidity aggregator from various DEXs. Users can use the following features on this platform:

  • Token Swap
  • Staking for profit
ShapeShift Platform User Interface
ShapeShift Platform User Interface

Coincap

Coincap is an application that allows users to track information related to crypto assets such as price, capitalization, trading volume. In addition to the above feature, Coincap is also integrated with the ShapeShift platform to allow users to swap tokens.

Coincap user interface
Coincap user interface

KeepKey

KeepKey is a cold wallet product that stores crypto assets, with outstanding features such as:

  • Generate and manage private keys offline in cold wallets, protected from vulnerabilities and viruses, and use wallet software for secure transactions.
  • Each device generates 12 recovery keys during initialization that can be used to retrieve the user’s private key.
  • The large screen brings clarity to every digital asset sent and received on a user’s device. Each transaction must be manually approved using the confirm button, which allows control and visibility of transactions.
  • Quickly exchange cryptocurrencies through the built-in ShapeShift app directly from the user’s wallet.
KeepKey cold wallet
KeepKey cold wallet

ShapeShift’s governance model

ShapeShift’s governance model is operated through the ShapeShift DAO.

ShapeShift DAO is a decentralized community of FOX token holders. The DAO is responsible for making initiative decisions regarding rewards programs, product roadmaps, and more of the platform. The community coordinates and communicates its initiatives through the public Discord channel, which has approximately 9,000 members.

Organizational structure of ShapeShift DAO

The organization of the ShapeShift DAO is currently divided into nine separate workflows to manage different parts of the project, including: Product, Moderation, Security, Engineering, Support, Tokenomics, Operations, Marketing , Growth and FOXChain. However, this organizational structure can vary based on the community.

ShapeShift support structures include SafeSnap, SnapShot, Gnosis Safe, and Colony.

  • SafeSnap allows community members to make multiple transactions in a single proposal.
  • SnapShot is a voting facility for community proposals.
  • Gnosis Safe refers to the treasury of the ShapeShift DAO, which is activated when the proposal from SafeSnap is approved.
  • Colony allows for their own treasury management workflows and autonomous allocation of funds once the community has voted to approve the budget.
Working model of ShapeShift DAO
Working model of ShapeShift DAO

ShapeShift’s Competitors

In the DEX Aggregator array

In the field of DEX aggregator, ShapeShift has quite a few competitors, typically 1Inch and ParaSwap, two DEX Aggregator platforms with the highest trading volume, number of users, as well as the number of transactions.

In the field of asset management

In the field of asset management, compared to competitors such as Metamask, Trust Wallet, ShapeShift provides users with more useful features.

Asset management platform comparison table
Asset management platform comparison table

Basic information about FOX token

  • Token Name: ShapeShift
  • Ticker: FOX
  • Blockchain: Ethereum
  • Token Standard: ERC-20
  • Contract: 0xc770eefad204b5180df6a14ee197d99d808ee52d
  • Token Type: Governance
  • Total Supply: 1,000,001,337 FOX
  • Circulating Supply: 415,362.810 FOX

Token Allocation

Updating

What is the FOX token used for?

FOX is the governance token for the ShapeShift DAO. Token holders can participate in voting on proposals related to the operation and treasury of the DAO.

FOX token storage wallet

FOX is an ERC20 token, so you will have a lot of wallet options to store this token. You can choose from the following wallets:

  • Floor wallet
  • Popular ETH wallets: Metamask, Myetherwallet, Mycrypto, CHK Wallet
  • Cold wallets: Ledger, Trezor

How to earn and own FOX tokens

Buy directly on the supported exchange.

Staking FOX tokens on ShapeShift platform for profit.

Where to buy and sell FOX tokens?

Currently, FOX is traded on many different exchanges with a total daily trading volume of about $148 thousand. Exchanges that list this token include: UniSwap, HoneySwap, SushiSwap, Coinbase Exchange, CoinEx, MEXC Global, Huobi Global, Gate.io, …

summary

ShapeShift is a platform that aggregates liquidity from various sources giving users access to nearly 1000 different trading pairs. In addition, the platform also provides users with a non-custodial crypto asset management tool.

Through this article, you must have somewhat grasped the basic information about the project to make your own investment decisions. CHK is not responsible for any of your investment decisions. Wish you success and make a lot of profit from this potential market.

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