Shapeshift has now created a new open source application that users will have to migrate to in order to take further steps towards full decentralization.

On Wednesday, noncustodial crypto exchange and decentralized autonomous organization (DAO), Shapeshift, Announced the launch of its new open source mobile application to move fully towards decentralization.

According to Shapeshift, this new move would improve user mobility and furthermore provide an authentic DeFi universe experience for its users, as well as offer flexibility, mobility, and additional features when interacting through the network. purse and crypto trading on the platform.

willy orgorzaly, senior trustee of the Fox Foundationhe stated that the mobile app is completely “open source” and that the only backend is “blockchain data”, which is also moving towards the process of being truly decentralized.

Also, in order to become fully decentralized, Shapeshift has provided users with more options for crypto-asset services, such as investing and managing crypto-assets. It also promised that it will permanently delete all user data once the company’s centralized infrastructure has been completely worn down.

Notably, this news comes after the organization transitioned to DAO last year as part of a broader assurance of its goals to decentralize its operations.

Founded in 2014, Shapeshift started out as a DAO and eventually evolved into a community owned and managed crypto platform. The platform aims to be the path to a borderless financial system and an open source self-custody crypto platform that will enable people to achieve financial sovereignty.

Speaking of DAOs, Binance is now ranked as the second-highest voting power in Uniswap DAO (after mega venture capital firm Andreessen Horowitz 16z) with its latest delegation of 13 million UNI tokens to Uniswap DAO. As reported by Blockchain.News, Binance It holds 5.9% of the voting power compared to the 6.7% commanded by a16z.

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