Updated April 4, 2024

Gm FOXes! 

We've got some EXCITING news to share with y’all today! Say hello to FOX Discounts – a revolutionary feature designed to make your decentralized trading experience not only smoother, but more rewarding too!

Embracing Change for a Brighter Future

ShapeShift is built on constant evolution, adaptability, and community. That's why we're excited to unveil FOX Discounts, a feature proposed and passed through governance by the community that goes beyond just tweaking fee structures. It's a game-changer that positions ShapeShift and FOXes around the globe for sustainable growth and financial resilience.

FOX Discounts: The Breakdown

Let's dive into the key highlights of FOX Discounts and explore how it's set to transform your trading journey on app.shapeshift.com:

1. Parametric Fee Model

We're introducing a sophisticated parametric fee model that leverages a slick sigmoid curve. 🤓

This model ensures that fees are not just determined by trade size but also take into account your FOX token holdings. It's about making FOX work for you!

2. Free Trades for Small Traders

We hear you, small traders! In a bid to support and engage our community, FOX Discounts ensures that trades below $1,000 come with a fantastic perc – zero fees. That's right ZERO fees for trades under $1,000! It's our way of looking out for the community around the globe while keeping trading accessible for everyone. Lastly, providing liquidity under $2,000 to THORChain on app.shapeshift.com is fee free!

3. FOX Holder Discounts

Are you a FOX token holder? Brace yourself for some exciting news. Enjoy linearly discounted trades, with up to a whopping 100% discount for users holding 300,000 FOX or more. It's not just about encouraging long-term holding; it's about giving back to our incredible community. Additionally, enjoy free liquidity providing under $2,000 with the same linear discount applying to added fees as trading.

4. Governance in Your Hands

We believe in decentralized decision-making. That's why initial parameters will be determined by the DAO's governance. The DFC (DAO Finance Committee) will maintain parameters temporarily, with the ultimate goal of handing the reins over to the community. 💪

5. Snapshot Mechanism

Your voice matters. That's why governance decisions and fee model results will be captured through the Snapshot mechanism一the exact same tokens that count for your vote count for discounts!

Why FOX Discounts?

ShapeShift is on a journey to ensure sustainability, survival, and growth. FOX Discounts isn't just about tweaking fees; it's a strategic shift in our business model. It addresses challenges of profitability, enhances token utility, and introduces tokenomics improvements in one fell swoop.

FOX discounts is a pivotal step in ensuring the sustainability and survival of ShapeShift. By introducing a data-driven and governance-approved fee model, ShapeShift is aligning our revenue generation strategy with industry best practices while enforcing community decisions.

Your Benefits, Your Utility

FOX Discounts has been meticulously designed to strike a balance between accommodating small and large traders, encouraging FOX token holding, and maximizing value capture across various trade sizes. Here's what it means for you:

  • Accommodates both small and large traders.
  • Enables optimal value capture on the most frequent trade sizes.
  • Key parameters are under DAO governance, allowing future adjustments.
  • Gives FOX holders another utility.

Join the Conversation

We invite you, our incredible FOX community, to dive into the details of FOX Discounts. Share your thoughts, feedback, and ideas. Your input is what shapes the future of ShapeShift!

This is just the beginning of an exciting journey. Learn more about FOX Discounts and join the discussion – because at ShapeShift, your trading experience matters!