ShapeShift Airdrops Over $2M in FOX to Active DeFi Users

Crypto

3 mins ago4 views0

Some 6.6 million FOX tokens worth over $2 million were airdropped to 33,000 holders of various decentralized finance (DeFi) tokens on Thursday.

The airdrop is an effort to include holders who would have been eligible for a slice of a previous $100 million airdrop but were not included because their tokens were deployed in yield-bearing strategies.

Dubbed a “Fairdrop,” the follow-up handout is the product of FOX community member, “NukeManDan,” as well as others, who argued that community token holders who were deploying their tokens in staking or liquidity provision strategies should not have been left out.

Targeted communities include Gitcoin, Uniswap, SushiSwap, Yearn, Aave, Alchemix, BadgerDAO, 1inch, Compound, Curve, Balancer, Maker and 0x, according to a press release.

“While there was no deliberate intent to exclude DAO stakers and LP providers from the initial airdrop, the DAO offers the structure to address such opportunities through governance proposals,” FOX Foundation head of decentralization Willy Ogorzaly wrote in the release, adding:

“This is an example of the process working as intended, with strong participation and solidarity across DAO communities.”

Read more: ShapeShift to Shut Down, Airdrop FOX Tokens to Decentralize Itself Out of Existence

In July, ShapeShift airdropped 340 million FOX tokens to past users of the ShapeShift exchange and to those participating in affiliated DeFi communities. Targeting over 1.2 million Ethereum addresses, it was dubbed the “largest airdrop ever.”

The airdrops are part of a broader effort to decentralize the non-custodial platform, which was founded in 2014 and is one of the oldest continually operating crypto exchanges. In January, the company announced integrations with a series of decentralized exchanges in an effort to lift know-your-customer (KYC) burdens. It was the first step in what has turned out to be a much longer roadmap towards full decentralization.

READ ALSO:  NFT, Art, Fidenza, Art Blocks, curated, generative art, opensea

Users can check their airdrop eligibility here.

What’s your reaction?

Excited

Happy

In Love

Not Sure

Silly

Oladimeji Abubakar

Oladimeji Abubakar

Hi, I’m Oladimeji Abubakar, a young Nigerian blogger and writer.
I’ve special interest in making money online just like many other people and this is why I chose the review niche where I’d get to show people the websites to join and the ones not to. I hope my reviews helps😀.

    Posted on