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Jul 14, 2021

Today, we announced that ShapeShift is decentralizing. Unorthodox, but it is the only way to maintain fidelity to the most important principles of crypto; specifically, self-sovereignty over money. Without that principle upheld, we’re all just LARP’ing. A thread…

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The ShapeShift app is best described as a crypto interface. It's compatible with multiple wallets (Metamask, WalletConnect, native Bitcoin wallet, etc) There are several bullet points on the splash screen... - 100% free - Open Source - Community Owned - Non-Custodial - Private

There are very few crypto companies that have achieved this set. For example, Metamask is not community owned. Coinbase is not Private nor Open source. FTX is custodial. We became a DAO in order to be able to pursue these virtues. Centralized companies arguably cannot do so.

The new mobile app release is a special milestone, because this app was developed entirely by the DAO. No funding came from any investors. There is no CEO, and there are no formal employees. There is structure and hierarchy, but it is not corporate. And the app is beautiful!

Crucially, it's multi-chain. This is not just another ETH-based wallet. It supports: - native Bitcoin -

@cosmos

@avalancheavax

It's architecture enables further chains to be added. There is no KYC. It is borderless. The front-end is redundant over IPFS.

This is a product I'm truly proud of, and I had almost nothing to do with it.

@ShapeShift

DAO pioneered not just governance, but the development of a beautiful, scalable commercial app. This happened during a brutal bear market with 95% decline in token price.

Many technologies and other products made this possible.

@SnapshotLabs

for governance

@gnosisSafe

for secure decentralized treasury management

@THORChain

and

@Uniswap

for decentralized trading

@TaxiStake

for PoS validation Plus numerous open source libraries and tools.

ShapeShift has been fighting for the principles that make crypto important since 2014. For this, we've been harassed by a litany of government agencies hell-bent on controlling and surveilling how allegedly free peoples interact economically.

We've been crucified by the community for decisions which we were sometimes *legally prohibited from even explaining.* But the ShapeShift team has adapted to every obstacle in pursuit of principle. And seeing this mobile app live today, brings a smile to my face.

Again, I have nearly nothing to do with the leadership and management of ShapeShift any longer. ShapeShift has decentralized, and demonstrated that decentralization is properly just a means to an end: the production of beautiful, principled product.