Shapeshift to Dissolve Corporate Model, Platform Airdrops FOX Tokens to Community of Users

ShapeShift is a company that offers global trading of a variety of digital assets via web and mobile platforms for seven years, founded on  July 1, 2014. Following the company’s recent anniversary, it announced Shapeshift is evolving into a community-owned decentralized platform. Shapeshift founder Erik Voorhees announced that the firm airdropped FOX tokens to over a million customers to “facilitate decentralized governance.”

Shapeshift Is Shifting

Shapeshift is changing, according to a recent blog post from its founder, about an airdrop of the platform’s native FOX tokens to Shapeshift users. The distribution of FOX is meant to make the platform community-owned and governed by FOX holders.

Shapeshift’s recent news follows the company’s change toward dropping KYC rules in January 2021, and shifting toward an entirely non-custodial solution. In mid-April, Shapeshift leveraging Thorchain for multi-chain unwrapped swaps. On July 14, Erik Voorhees explained how the company would be dissolving its corporate structure entirely.

“With an eye toward the future, Shapeshift has begun decentralizing,” “Shapeshift is open-sourcing everything, and Shapeshift’s entire corporate structure will wind down.”

The Shapeshift founder added:

“A system that empowers all of humanity equitably, just like the mathematics upon which it is built. Shapeshift is simply perceiving this trend and positioning accordingly.”

▶️ HEADLINES