Summary: Listing FOX token on Compound
Hello COMP family,
We are the ShapeShift team and would like to propose the listing of our token FOX, on
COMPOUND’s platform. We believe having FOX on Compound would open up several
exciting opportunities for both ShapeShift and Compound.
ShapeShift presence on Compound would provide an opportunity to earn additional fees as
FOX holders would be able to come to Compound to collateralize their assets and increase
The reason ShapeShift presence on Compound will attract more users to the platform is
because ShapeShift is a new opportunity. Unlike centralized custodians that hold your
funds, with ShapeShift you’re always in control of your crypto. Instantly trade crypto in
platform. No added fees. 1000s of trade pairs. Plus get FOX back on every trade. First of its
kind cross-chain swaps powered by 0x and THORChain.
Over the years, ShapeShift has established a strong and loyal community and who would
love to be able to use the Compound platform to collateralize their assets.
The Evolution of ShapeShift
Since our formation in 2014, our purpose has been to empower the digital asset market in
alignment with the ethos of financial sovereignty.
Seven years ago, we pioneered frictionless crypto trading with no user accounts, and no
custody of user funds.
In 2017, we acquired KeepKey to bring easy cold-storage to our users.
In 2018, we built a full self-custody crypto interface that incorporated KeepKey, Ledger, and
Trezor hardware wallets with integrated trading functionality across chains.
In 2019, we removed all commissions for holders of the FOX Token.
In 2020, we acquired Portis to further engage with the burgeoning web3 dapp ecosystem
and released ShapeShift’s self-custody mobile app.
And by late 2020, we began integrating decentralized protocols directly into the ShapeShift
crypto platform to enable immutable, borderless trading with no intermediary, removing
ourselves—and our prior business model—from the process.
This evolution enabled us to return protection and dignity to our users, ending KYC and
other intrusive financial surveillance practices. ShapeShift will never be a bank. The end
goal has been and remains: a world where people are empowered to manage their own
financial futures, without sacrificing their privacy and control to governmental and
middlemen entities. A world where users can participate in and explore new voluntary forms
of financial innovation.
Fast and private, with no account or KYC required.
FOX utility Perpetual Utility — Hodl FOX, Earn Crypto
FOX has always been a “Perpetual Utility” token—they provide benefits as long as you hodl
them in your wallet. You do not need to spend your tokens to derive their benefits.
Here is the non-governance benefits that exists today:
Rainfall rewards FOX hodlers with free crypto when people trade on ShapeShift. The more
FOX you hold, the better your chances of winning a Rainfall reward.
For every qualifying transaction on ShapeShift, the following benefits are realized:
The user who makes a crypto trade earns more FOX Tokens;
Another random FOX holder earns free USDC;
Revenue generated for ShapeShift (if any) through that transaction goes to the ShapeShift
FOX Fuel: Reimbursement for Gas Fees
Gas fees can get expensive!
FOX Tokens help you offset these costs. 10% of the current market value of your FOX
Tokens, as determined by CoinCap.io at the time of trade, can be repaid to you every 30
days in additional FOX Tokens to help reimburse you for gas costs on trades. With enough
FOX Tokens, this can potentially cover all of one’s gas costs on trades.
FOX Liquidity Mining Is Here
The initial round of FOX liquidity mining will begin at 9:00 a.m. MT, Friday, July 16, 2021.
FOX Token holders that provide liquidity to the FOX/ETH pool on Uniswap V2 and stake
their FOX-ETH-UNI-LP token in the ShapeShift Staking Rewards contract may earn a
proportional share of 15,768,000 FOX Tokens over the following three months. Thereafter,
governance will decide whether or not to continue or change the program.
The Largest Airdrop in History—Over 1M Recipients
FOX has been airdropped to the largest number of eligible recipients in crypto history.
There are now more than 1 million potential FOX holders who can choose to claim tokens.
This makes FOX Tokens one of the most widely distributed tokens in history. ShapeShift
has never sold these tokens; there was no ICO.
FOX Superpower: Governance
The FOX Token has always been our way of giving extra utility to those who support the
ShapeShift platform and community (starting with no trading fees in 2019). Now, FOX is
becoming the entire control and ownership structure of the project.
Products built with ShapeShift
KeepKey: KeepKey - Hardware Wallet | ShapeShift
Market data (Market Cap, 24h Volume, Exchanges, Total Supply)
Market Cap: ~$83m
24h Volume: ~$1.5m
Exchanges: Coinbase, Huobi Global, Gate.io, UniswapV2, Sushiswap, CoinEx etc.
Total Supply 1,000,001,337(No inflation)
Primary Resources on FOX
Source Code: GitHub - shapeshift/fox-token
FOX token contract: 0xc770eefad204b5180df6a14ee197d99d808ee52d
Chainlink FOX/USD Feed: FOX / USD price today | Chainlink
ShapeShift blog: Blog | ShapeShift
Telegram: Telegram: Contact @shapeshiftofficial
Medium: ShapeShift Stories – Medium
To be added from AAVE proposal