Frequently asked questions about ShapeShift

What is the ShapeShift DAO?

  • To align with the ethos of decentralized finance, ShapeShift, founded in 2014, has dissolved our corporate structure, and evolved into a community-owned and governed crypto platform.

What is the vision of the ShapeShift DAO?

  • We envision a borderless financial system built on open, decentralized protocols. We shall be the pathway into this borderless financial system; an open-source, multi-chain, self-custody crypto platform enabling billions to achieve financial sovereignty.

What is the FOX Token?

  • FOX is an ERC-20 token created by ShapeShift which serves as the governance token for the ShapeShift DAO, token holders can vote on proposals relating to the operation and treasury of the DAO. The token supports and provides utility for a borderless, cross-chain crypto trading platform and portfolio manager for user self-sovereignty. As the ShapeShift ecosystem expands, users will be able to earn FOX tokens for activity that generates revenue for the DAO via affiliate partnerships (i.e. earning yield, buying/selling/trading crypto and NFT's, buying swag or a
    y.at, etc.).

Do I need to do KYC?

  • No, we offer fully decentralized trading and yield earning opportunities in order to provide you with greater privacy, transparency, and security.)

Have you ever lost customer funds?

  • ShapeShift has never lost customer funds, because it doesn't hold customer funds. ShapeShift is a non-custodial platform.

How does ShapeShift trading compare to other exchanges?

  • ShapeShift offers fully decentralized trading. This means you trade with other users and there's no centralized intermediary controlling your keys, unlike with central exchanges. Additionally, we don't add any commissions. Start Trading on our
    web app.

How can I get Involved in the governance process?