In the coming year, a company of about 65 people and 6.5 Million USD in revenue will relinquish control of its future to its 1 Million plus customers. Shapeshift is transitioning from a typical corporation to a Decentralized Autonomous Organization (DAO). Currently, Shapeshift is headquartered in Zug, Switzerland, and is run out of Denver, Colorado, USA. After the transition, the company will be fully controlled by its 1 million customers, employees and community members. If a “DAO” is a new concept to you, we wrote all about it here: DAOs Demystified: Organization that puts people first.
Shapeshift is a cryptocurrency exchange that lets users exchange cryptocurrencies without relinquishing control of their digital assets. This is very unlike exchanges like Coinbase or Binance where users must provide a lot of personal information and relinquish direct control of their assets. Coins held on Coinbase or Binance are in the custody of these exchanges until you withdraw them.
During its transition to a DAO, any customer that has used Shapeshift will receive FOX tokens. FOX tokens will function like “shares” in the company….