The popular cryptocurrency exchange Shapeshift announced the shutdown of its service on September 18th, 2018. This announcement sparked a panic in the market as many are unsure how this will affect the future of cryptocurrencies.
The fox tokens airdrop is the process of distributing tokens to those who have an account with ShapeShift.
ShapeShift, the first cryptocurrency exchange, is closing its doors. Giving over its legacy to a decentralized autonomous organization (DAO) governed by FOX token holders.
It will begin by airdropping $98 million in crypto to decentralized money (DeFi) financial supporters across different blockchains as it begins a months-long cycle of shutting things down (more on that worth gauge underneath).
ShapeShift, a Colorado-based startup founded in 2014 by Erik Voorhees, announced today that it will cease operations as a traditional company. ShapeShift will have no employees as of now, despite having 65 members. According to Voorhees, there have been no financial balances and no CEO for around four and a half years.
“It’s certainly radical,” Voorhees said over the phone, adding, “A year ago, I would have thought this was a little fantastical, but at this point, I’ve seen how this tool is being developed and how these communities are being formed around a token rather than an equity structure.” ShapeShift stands apart because it is really shutting its corporate entity.”
A decentralized convention was built by a number of crypto groups. However, leave a company standing that profits from their blockchain invention (for example, Compound Labs just dispatched Treasury to do that).
To increase the number of people involved in this new incarnation of the ShapeShift project. It’s giving out 340 million FOX tokens to all ShapeShift previous customers (around 900,000 addresses) and 120,000 addresses at a few major DeFi conferences.
Around ten million FOX tokens have already been distributed. We estimated the airdrop to be worth $98 million at the outset of this article. At the same time, that is really a stab in the dark. As a result, the cost of FOX is expected to stay essentially same until the airdrop begins. This is a very unlikely scenario. Other hypotheses, on the other hand, would be much worse.
A client may receive an airdrop in a variety of ways. On ShapeShift’s blog, you can learn more about the nuances. But here’s the really crucial issue for everyone concerned: Airdrops must be claimed within 90 days of receiving them. Airdrops will gradually decrease over the next 10 days from that point forward. As a result, anything left over transforms to the DAO.
The recipients of the airdrop are listed below. First and foremost, anybody who has ever worked with ShapeShift in any way. More FOX is produced as a result of increased use. There are more types of usage, therefore there are more results. So, if a customer has a KeepKey and has performed exchanges. A larger airdrop will result as a result of this.
ShapeShift is also doing a modest airdrop to customers from a variety of DeFi conferences. Gitcoin, Uniswap, Yearn, and a few more are among them. There will also be an airdrop for certain Thorchain customers.
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The fox airdrop eligibility is the date and time of the Shapeshift Shutdown. The Fox Airdrop is taking place on December 31, 2018 at 12:00 AM UTC.
Frequently Asked Questions
How do I claim my Fox token on airdrop?
To claim your Fox token, youll need to head over to the official site and follow the instructions on how to claim your tokens.
Is ShapeShift decentralized?
ShapeShift is a decentralized exchange.
Who is eligible for ShapeShift airdrop?
Anyone who has an Ethereum wallet.
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