Shapeshift
FOXNon-custodial multi-chain crypto trading and DeFi aggregator
Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.10% | 1.13% | 1.74% | 15.46% | 11.36% | 25.15% |
Comparison
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Data source: CoinGecko
FOX is the governance token of Shapeshift, used for governance of decentralized exchange and DeFi services, staking, and protocol revenue distribution.
On-chain Holding
| Holding Token | Price | Amount | Total Value |
|---|---|---|---|
| No Data | |||
Top Holders
| Address | Token | Quantity | Percentage | Value |
|---|---|---|---|---|
| ShapeShift: DAO Treasury (51be) |   FOX | 139,111,654.61 | 13.91% | $628.86K |
| 0xa47d...34e5 | FOX | 135,395,220.99 | 13.54% | $612.06K |
| 0x470e...f08c | FOX | 126,841,746.15 | 12.68% | $573.39K |
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|---|---|---|---|---|---|---|
| 1 | FOX/USD | $0.0119 | $183 | $186 | $99,902 | 424.81% | |
| 2 | FOX/WETH | $0.01169 | $45,529 | $45,392 | $46,990 | 199.82% | |
| 3 | FOX/WETH | $0.01158 | $1,724 | $1,719 | $2,096 | 8.91% | |
| 4 | FOX/WETH | $0.0117 | $201 | $200 | $46 | 0.20% |
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About Shapeshift
ShapeShift is a self-custody trading and wallet protocol that began as a centralized exchange in 2014 and in 2021 dissolved the company, handing assets and governance to a DAO of FOX holders. The product is a non-custodial multi-chain wallet plus swap aggregator: users sign from their own wallet, the protocol aggregates quotes from multiple DEXs and market makers and routes the order, charging a flat 0.55% fee split roughly 50% to DAO operations, 25% to FOX stakers and 25% to buyback and burn. It addresses custody and KYC friction at centralized venues and the opacity of aggregator fees and routing; matching happens on-chain and settlement is an atomic swap between user wallets, with rFOX 3.0 paying stakers their share in USDC.
In the ecosystem ShapeShift is an early practitioner of in-wallet trading, serving retail self-custody users and front ends that plug into its interface. Brand front end, FOX governance and treasury sit under one entity, so fee flow, voting power and product iteration share a single ledger; unlike quote-only aggregators it carries interface, routing and settlement together.
In March 2017, ShapeShift raised a $10.4 million Series A round led by Earlybird Venture Capital, with participation from Blockchain Capital and Pantera Capital, to expand its engineering team.
On July 31, 2020, ShapeShift officially launched the FOX token, laying the groundwork for its later decentralized governance and community airdrop.
On July 14, 2021, ShapeShift announced it would dissolve its corporate structure, transfer governance to the community via the FOX token, and airdrop 340 million FOX to over 1 million recipients, calling it the largest airdrop in history at the time.
On March 5, 2024, the U.S. SEC initiated a cease-and-desist proceeding against ShapeShift AG, finding it operated as an unregistered dealer from August 2014 to early 2021; ShapeShift agreed to pay a $275,000 civil penalty.
On October 28, 2024, ShapeShift launched initial Solana support, allowing Phantom wallet users to send and receive SOL and SPL tokens, and view portfolio and transaction history.
On September 22, 2025, the U.S. Treasury's OFAC announced that ShapeShift AG agreed to pay $750,000 to settle charges over 17,183 digital asset transactions with users in sanctioned regions between December 2016 and October 2018, totaling approximately $12.57 million.
Fees and buybacks: With rFOX 3.0 staking live, stakers receive 20.5% of protocol fees paid in USDC; swap fees were flattened to 0.55%, with revenue split roughly 50% to DAO operations, 25% to FOX stakers and 25% to buybacks and burns.
Fundamentals: The treasury holds about $3.3 million, covering operations through November 2026, with positive monthly revenue and no need to sell FOX; supply is capped at 1 billion tokens with roughly 772 million circulating.
On 13 May 2026 an attacker drained the FOX Colony contract that ShapeShift DAO runs on Arbitrum, abusing the executeMetaTransaction path to replace the resolver and take about $132,700, with related deployments losing roughly another $50,000 for a total near $182,700. The core trading front end was not affected. Blockaid warned that any Colony deployment exposing executeMetaTransaction on top of EtherRouter could face the same attack surface, and the cross-chain exposure has not been fully audited.
The product side kept expanding. ShapeShift added Robinhood Chain on 16 September, opened its swap stack as a widget and API on 21 September with an affiliate dashboard that lets third parties choose chains and assets and set fees, and integrated ButterNetwork on 23 September for EVM to Tron routes. On 29 August the DAO said rFOX would move from Arbitrum to Ethereum mainnet on 1 October, with stakers receiving 50% of DAO revenue in USDC until the end of December and 25% afterwards.
The Shapeshift DAO will move revenue distribution and governance to Ethereum mainnet, keep distributing through its free swap components, and tighten the Colony contracts' permission boundaries to reduce treasury custody risk.
Erik Voorhees — Founder; launched the non-custodial exchange ShapeShift in Switzerland in 2014, stepped down as CEO in 2021 and turned it into a DAO; earlier co-founded SatoshiDice and Coinapult, and founded Venice AI in 2024.
ShapeShift charges a 0.55% front-end fee on all swaps, already embedded in the quote; the underlying DEX/aggregator pool fee on the same route typically runs 0.05%–0.30%.