ShapeShift Unveils rFOX: Pioneering Cross-Chain Community Incentives
ShapeShift DAO launches rFOX, the first-ever cross-chain community incentive program connecting EVM and THORChain ecosystems further solidifying its longstanding partnership with THORChain.
Los Angeles, CA — July 1, 2024 — ShapeShift DAO, a leader in decentralized, non-custodial cryptocurrency trading introduces rFOX, a groundbreaking cross-chain community incentive program. By seamlessly connecting the THORChain and EVM ecosystems, rFOX empowers users to earn substantial yield in THORChain’s native token, RUNE, by staking ShapeShift’s governance token, FOX on Artbitrum.
As the first cross-chain incentive program powered by protocol emissions, rFOX amplifies the utility of the FOX governance token, seamlessly integrating THORChain and Ethereum ecosystems. Users can now earn yield from affiliate fees generated through trading, saving, lending, and LPing on app.shapeshift.com. Notably, transactions under $1,000 are affiliate-free, making this program accessible to all."
Trust Security rigorously audited rFOX, addressing all identified issues pre-launch to ensure its reliability and security for users.
“THORChain is dedicated to advancing decentralized finance and spreading native asset liquidity and the launch of rFOX marks a significant milestone in this mission,” said FamiliarCow, a representative from THORChain. “This program with ShapeShift allows, empowers, and rewards users to take part in all layers of the exchange, exemplifying our shared commitment to permissionless access to decentralized liquidity.”
JonisJon from ShapeShift added, “rFOX is a major community-driven upgrade to FOX tokenomics and I am thrilled to see it come to fruition! There are not many opportunities to earn native RUNE yield in a single-sided manner and now it will be as easy as staking FOX in order to earn RUNE. This native “real yield” adds significant power to the FOX token and I am excited to see what tokenomic upgrades the community builds on top of this foundation. The ShapeShift DAO continues to evolve through decentralization and community engagement and I can’t wait to see where things go next.”
rFOX originated from a community forum post by Jon, inviting feedback to promote decentralized decision-making. The proposal gained overwhelming support with 33 million token votes in one of the highest participations on SnapShot. This initiative demonstrates the effectiveness of DAO tokenholders in decision-making and executing cross-chain development and tokenomic projects while upholding the principles of decentralization and permissionless finance.
While rFOX is just beginning, it marks a major step towards evolving decentralized, collaborative cross-chain tokenomic structures. Discussions for future versions are already active on the ShapeShift forum, inviting every community member to contribute ideas and drive continuous innovation.
About ShapeShift:
Since 2014, ShapeShift has pioneered self-custody for digital asset trading. Today, ShapeShift DAO is a vibrant community working to advance permissionless and decentralized financial systems. Our web and mobile platforms empower users to safely buy, hold, trade, invest, save, and interact with tens of thousands of digital assets, such as Bitcoin and Ethereum.
For more information on THORChain and ShapeShift, please visit:
https://shapeshift.com/thorchain
ShapeShift.com
Media Contact: marketing@shapeshiftdao.org