In the news release, FOX on Fire: ShapeShift DAO Partners with Fireblocks, issued 02-Dec-2021 by ShapeShift DAO over PR Newswire, we are advised by the company that the source of the news should be listed as ShapeShift DAO rather than ShapeShift as originally issued inadvertently. The complete, corrected release follows:
FOX on Fire: ShapeShift DAO Partners with Fireblocks
Collaboration Delivers Institutional Investors Operational Ease, Security, and Custody
DENVER, Dec. 2, 2021 /PRNewswire/ -- DeFi—and its investors—are maturing at a rapid pace. Not only are more institutional investors diversifying their portfolios with digital assets (often beyond just Bitcoin and Ethereum), the crypto ecosystem continues to evolve to help them navigate the complexity of the operational, security, and regulatory environment.
As ShapeShift has decentralized into a DAO, the demand for FOX token has increased among crypto firms ; and Fireblocks helps make the acquisition and custody of the FOX Token as frictionless as possible for these firms. To meet their requirements, Fireblocks has made the FOX Token available on its widely popular platform, effective immediately.
Fireblocks is an enterprise-grade platform for moving, storing, and securing digital assets. It currently enables 200+ financial institutions to securely scale their digital asset operations and has secured the transfer of over $400B in digital assets to date. With the completion of their recent $133M Series C funding round, Fireblocks is helping institutions like BNY Mellon, Galaxy Digital, Genesis, JST Capital, Revolut, Parafi Capital and Coinbase Pro launch digital asset products and services without compromising on security or compliance.
Through this partnership, institutional and more formalized crypto firms can add FOX to their holdings easily and securely.
What Are the Benefits of the FOX Token?
People are quickly learning the benefits of DeFi and the reach and impact of decentralized projects as an alternative to the fiat banking system. ShapeShift is one of the longest running crypto platforms, which started life as a centralized exchange and has transformed into a decentralized open-source interface for DeFi. In July, ShapeShift announced the decentralization of all corporate structure and source code and issued the largest airdrop in history, giving FOX holders the power to determine the future of ShapeShift. FOX Token holders are now empowered to extend the platform's reach, benefits to users, and impact on crypto innovation. FOX also governs ShapeShift DAO's treasury of over $300 million, one of the ten largest DAO treasuries in the industry.*
FOX and Fireblocks: The Ease of Security, Custody, and Operations
By buying and trading through the Fireblocks platform, institutions and firms will gain these advantages and features:
Secured private keys (using next-generation MPC and hardware isolation)
Automation for algorithmic trading (DeFi API)
Robust internal policies and workflows
Governance policies to prevent hacking
Auditability for compliance (centralized transaction logs)
Insurance (up to $30 million covering cyberattacks, internal fraud, software bugs, and more)
For the non-institutional crypto user, FOX is always available on ShapeShift's web and mobile app, and FOX Token holders can earn double-digit yield through a number of available liquidity farming activities: learn more.
Now in a decentralized form, ShapeShift's mission is to build the world's best open-source, community owned crypto interface for digital finance. Support for the FOX token on Fireblocks demonstrates the effectiveness of DAOs and their ability to integrate with traditional financial firms.
*This is not to be construed as investment advice; the FOX Token is a governance token for the purposes of rendering project decisions via voting by token holders. We do not suggest investing for the purposes of speculative financial gain, as no gains are guaranteed and losses (of any or all value) are possible. All investment risk is assumed by investors.
ShapeShift DAO PR
SOURCE ShapeShift DAO