### What is ShapeShift FOX?

ShapeShift FOX is an ERC-20 governance token created by ShapeShift, which functions as the utility token for its cross-chain crypto trading platform and portfolio manager. It is designed to facilitate decentralized finance operations and community governance within the ShapeShift ecosystem.

### How does ShapeShift FOX work?

ShapeShift FOX operates as both a governance and utility token within the ShapeShift platform. Holders of FOX tokens can participate in governance decisions through voting on proposals related to the ShapeShift DAO's operations. Additionally, FOX tokens are employed in various DeFi activities, such as staking, yield farming, and liquidity provision. The token also allows users to offset gas costs associated with trades on the platform.

### What are the potential use cases for ShapeShift FOX?

Potential use cases for ShapeShift FOX include:

- **Governance**: FOX holders can vote on proposals concerning the ShapeShift DAO's operation and treasury management.
- **Loyalty and Rewards**: Users earn FOX tokens as a reward for trading and engaging with the platform.
- **DeFi Strategies**: Holders can engage in staking and yield farming to maximise benefits.
- **Trading and Liquidity**: FOX is used to provide liquidity to the FOX-ETH pool. Users can earn additional rewards by staking their liquidity provider (LP) tokens.
- **Gas Cost Reimbursement**: FOX tokens can offset transaction gas fees, reducing trading costs.

### What is the history of ShapeShift FOX?

ShapeShift FOX's history is closely linked to the development of ShapeShift, a cryptocurrency exchange founded by Erik Voorhees in 2014. Initially a centralised platform, ShapeShift transitioned to a decentralised model, becoming a DAO in 2021. This shift was marked by one of the largest token airdrops in crypto history, distributing FOX tokens to over a million addresses. The FOX token became integral to the platform's operations, serving as both a governance and utility token. ShapeShift has since evolved to support multiple blockchains and decentralised finance functionalities, guided by its community-driven governance model.

Deposits and withdrawals are not currently available for this coin.

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