ShapeShift, a decentralized cryptocurrency platform, airdropped some 6.6 million of its FOX tokens worth over $2 million 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.
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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.