In the earlier days of cryptocurrency history, Shapeshift.io was best known as a simple way to do a non-KYC, pseudo-anonymous swap from one type of cryptocurrency to another. An easy interface which wouldn't require any identifiable information as long as you weren't re-using addresses and were using at least a VPN to hide your IP address.
At some point, ShapeShift launched an exchange which would require a minimal amount of KYC, and they partnered with Portis (eventually acquiring the web wallet provider earlier this year). They still operate a no-nonsense crypto swap function, but these days that sort of functionality is better provided by Automated Marker Makers (AMMs) like Uniswap.... as long as you don't need to go cross-chain!
The ShapeShift Exchange isn't really a site that I tend to use that often, but I still maintain an account there anyway. Like most centralised exchanges, they have their own exchange token, in this case it is called FOX. Similar to most other exchange tokens, these are used to subsidise or completely offset trading fees from maker/taker orders. You can purchase FOX, or you can earn it by trading on the exchange. Seeing as I trade very little on the ShapeShift exchange, that makes it sort of worthless to me... but it is of worth to other people.
Thankfully, I didn't offload my FOX tokens though... as this last month, ShapeShift has started up a new campaign to encourage a new use case for acquiring and holding FOX tokens on the exchange.
Rainfall is an interesting way to redistribute a portion of the continuous stream of trading fees from the exchange back to the holders of FOX. Basically, every time an order is completed on the exchange, there is a lottery amongst the holders of FOX to see who wins a small portion of the trading fees.
Ah well, it's never going to make me a millionaire, but a little trickle of crypto tokens can't hurt... especially if I've not invested anything extra into purchasing FOX tokens! So, jump in... sign up and make an account, and see if anything comes your way!
I'm not sure that I would advise actually purchasing FOX tokens, but you do get 10 FOX tokens for a verified account. So, a small lottery ticket just to keep a hand in...
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