All users of ShapeShift’s new platform receive 100 FOX tokens, and by holding them, they will enjoy perpetual zero-commission trading. While trading is commission-free, network miner fees still apply.
Each FOX token provides $10 of free trading volume on a rolling 30-day basis. The tokens aren’t spent or consumed; customers just hold them in their wallets.
“We believe that tokenized assets create powerful new mechanisms for customer engagement. ShapeShift’s FOX token, which perpetually grants zero-commission crypto trading to those who hold it, is our initial demonstration of this thesis.’
– Erik Voorhees, Founder and CEO of ShapeShift
Traders can access ShapeShift’s web-based interface or API, and also can access an integrated wallet experience with their KeepKey or Trezor hardware device. Last week, ShapeShift integrated Portis so that users don’t need a hardware wallet to interact with the platform.