Navigating Airdrops and Regulation in DeFi

ShapeShift recently announced an intent to decentralize -- a move that would transition the one-time centralized exchange to a full-on DAO. Erik Voorhees, founder and CEO of ShapeShift, comes onto the show to talk about decentralizing the exchange, along with his thoughts on Bitcoin maximalism and crypto regulation. Show highlights:

• why ShapeShift is decentralizing the company 
• how ShapeShift used to work
• what needs to happen for ShapeShift to decentralize
• why user experience should not change during the transition
• how the FOX token works
• what parts of a company cannot be decentralized yet
• how ShapeShift’s forthcoming foundation will function
• how ShapeShift decided upon the allocations for the FOX token airdrop
• why ShapeShift employee and shareholder FOX tokens are locked up for three years
• what Erik’s role will be going forward
• how ShapeShift plans to attract devs
• why Erik believes FOX is not a security
• how Erik wants the SEC to handle crypto
• why he believes THORChain is one of the most critical projects in crypto
• why he is opposed to Bitcoin maximalism
• Erik’s thoughts on BitMEX’s and Binance’s regulatory issues
• what he thinks about stablecoin regulation
• Why Erik believes ShapeShift and Uniswap are not competitors

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Episode Links

Erik Voorhees

• Twitter: https://twitter.com/ErikVoorhees
• Previous Unchained appearance: https://unchainedpodcast.com/shapeshifts-erik-voorhees-on-how-crypto-will-separate-money-and-state/

ShapeShift: https://beta.shapeshift.com/ 

Decentralizing

• Tweet thread: https://twitter.com/ErikVoorhees/status/1415339998740508674
• Blog post: https://erikvoorhees.medium.com/shapeshift-is-decentralizing-639bb4c82fc8
• Airdrop info: https://shapeshift.com/shapeshift-decentralize-airdrop
• FOX token contract: https://etherscan.io/token/0xc770eefad204b5180df6a14ee197d99d808ee52d 
• CoinDesk write-up: https://www.coindesk.com/shapeshift-to-shut-down-airdrop-fox-tokens-to-decentralize-itself-out-of-existence 
• FOX token analysis: https://www.coindesk.com/shapeshift-fox-token-rally-yield-play-daos 

Other

• THORChain: https://erikvoorhees.medium.com/an-introduction-to-thorchain-for-bitcoiners
• Getting booed at Miami BTC Conference: https://twitter.com/finematics/status/1401498099441405953
• Paxos stablecoin blog: https://www.paxos.com/a-regulated-stablecoin-means-having-a-regulator/
• Circle reveals reserves: https://www.theblockcrypto.com/linked/112001/circle-reveals-majority-of-usdc-reserves-are-in-cash-and-cash-equivalents 
• CFTC and BitMEX: https://www.cftc.gov/PressRoom/PressReleases/8270-20

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