ShapeShift, a leading self-custody crypto trading platform, announced today the release of its anticipated FOX token, which enables users to trade on its platform with no commission or trading fees.
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.