ShapeShift launches FOX token to provide free cryptocurrency trading

ShapeShift now offers its users free operations in the form of an ERC-20, called FOX Token.

The self-custody trading platform announced today, November 20, 2019, that it is instituting a limited free trade through its FOX token. ShapeShift expects the incentive token “to attract users away from custody exchanges”.

All registered ShapeShift users will initially receive 100 FOX tokens for free. Each token entitles its holder to a value of $ 10 in free negotiation volume for continuous periods of 30 days.

“The exchanges are free if you have FOX tokens, and each user gets FOX tokens when they create an account, therefore, the trade is really free for everyone”. ShapeShift CEO Erik Voorhees told Bitcoin magazine via email.

“The limiter is the volume per month: each FOX token allows $ 10 of free trading volume per 30-day window. So, if you have 100 FOX tokens, you can exchange up to $ 1,000 every 30 days without charge. Is important to note that users do not have to spend (or lose) FOX tokens, simply keeping them enables zero commission trading”.

Shift shape change.

Originally called KYC-free commercial option. ShapeShift implemented basic KYC by the fall of 2018; perhaps in response their reputation as a currency laundering center. (These reports have been called exaggerated by both ShapeShift and the signing of blockchain analysis CipherBlade).

The news of the native ShapeShift token comes in a year in which the exchange has renewed its commercial infrastructure. In July 2019, the company launched a new and improved non-custodial platform.

The news of the native ShapeShift token comes in a year in which the exchange has renewed its commercial infrastructure. In July 2019, the company launched a new and improved non-custodial platform.

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