# ShapeShift V2

ShapeShift DAO has demonstrated its relentless pursuit of decentralization, transforming the multi-million dollar crypto-asset exchange into a Decentralized Autonomous Organization.

After this choice, offering the best DeFi services becomes a necessary move for its contributors: centralization opposes the figure of the DAO. The existence of intermediaries providing asset trading services and the need to hold them in custody to carry out transactions is totally against to ShapeShift DAO's ideals.

Gathering the brilliant DAO's minds to develop an application befitting its principles, ShapeShift proudly announces its newest release:


**A non-custodial, open source, KYC-free DEX driven by community decisions.**

These are the principles inherent in DeFi that ShapeShift seeks to align with.

> In case you're asking yourself why, there's a simple answer: because decentralization is the future.

V2 not only opened 100% of your code , but brought new things to users who use ShapeShift to trade their cryptoactives. With this update, it is possible to buy and sell cryptos using your Metamask. Users simply connect their Metamask and all ShapeShift services are at their disposal! Upon entering ShapeShift's new platform, you will come across three icons:

- Dashboard- Efficiently manage your portfolio and trade a range of different cryptoactives on Ethereum
- Assets - Send/Receive ETH, USDT, USDC among several assets listed on dapp and analyze their value in real time
- Earn - Get passive income providing liquidity in ShapeShift Vaults.

A lot of information? Do not worry. We will explain in detail each feature for you 😉

## Dashboard


Integrating Dashboard into ShapeShift's V2 improves your understanding of all assets in your wallet. Once the cryptoactive has been deposited, its value and amount will be recognized upon receipt. From this date, the dapp will follow the variation in the asset pricing.

> This valuation tracking will be carried out with all cryptoactives stored in your wallet once connected - only in Ethereum

The application plots a graph with its variation, which can be analyzed in different periods: hourly, daily, weekly, monthly, annual and since its acquisition.

The ShapeShift V2 also structures in listing all assets in your wallet and recent transactions performed by you. These are features already present in Metamask, but include them in dappcentralizes the information you need in one place. On the Dashboard, you can see another innovation introduced in ShapeShift V2: its first DEX in the DeFi sector.

Once in Dashboard, check out another innovation introduced on this update: **DAO's first DEX**!


Now it's easier to buy and sell crypto:

- Select the desired token and enter the amount you want to sell;
- Choose the token to be purchased and check the price;
- Click on “Preview Trade” and you will get a quote.
- Rate: the proportion between the asset sold and the acquired;
- Miner Fee: refers to fees for using resources from the Ethereum blockchain. Double check the best time to avoid high fees.
- ShapeShift Fee: describes the fee charged by the DAO during the swap (FOX token has 0 fee) 😉
- Click on “Confirm and Trade” and that's it! Your tokens have been sold and exchanged for others of your choice. All cryptoactives found in “Trade” tab will be present in “Assets”.

However, the FOX Team is constantly working on features to always bring an awesome user experience. Stay tunned and dive into DAO's universe :fox_face:

## Assets

Yes, we know how important measure the crypto volatility in your portfolio is.

Volatility is an intrinsic characteristic of this crescent market: and most of the opportunities are linked on this variable 🤑

ShapeShift brought in its V2 a dedicated place to analyze world's favorite cryptos: and there are hundreds of them! The “Assets” function, you will not only be able to price your assets, **but also get a graphical view of their value**. To use it, select select the cryptocurrency you want, the period to be analyzed and quickly access the cryptoactive analysis directly in ShapeShift V2.


V2 has essential information to help you studies on markets conditions for several cryptoactives:

- **Real-time pricing** - stay aware of your asset's value!
- **Capitalization** - know, in real time, the coins value in circulation;
- **Daily volume** - your favorite crypto was sold out or cash injection happened? Get this information here!
- **Daily price change** - you made gains and want to know the percentage change in its value during the last 24 hours? ShapeShift V2 brings this data for you!

With all these functions, we hope to contribute in users' asset trading: we know the importance of reliable information in the crypto universe.

In addition to bringing cryptoactive trading to the next level, we bring you one more new thing: now you can get passive income just by depositing your assets in Yearn Finance through ShapeShift!

## Earn


Even before ShapeShift V2's launch, providing liquidity ways always an option to collect rewards:

- Uniswap V2, on [LP FOX/ETH](https://fox.shapeshift.com/fox-farming/liquidity/0x470e8de2ebaef52014a47cb5e6af86884947f08c/staking/0xc54B9F82C1c54E9D4c3752274fstart/63f);
- ICHI, using [oneFOX](https://app.ichi.org/deposit?poolId=1015&back=deposit) pool
- [Tokemak](https://www.tokemak.xyz/), depositing FOX or TOKE;

ShapeShift is pleased to bring Vaults to your V2: an strategy developed by Yearn Finance, just a few clicks from you💸.

Vaults allow you to provide liquidity in tokens you choice and **earn the same token as income source**.

**In other words, if you deposit USDC, you receive USDC!**

Nowadays the platform has 11 different vaults with consolidated assets and tokens in whole market.

Want something advanced? **We do have [YCurve's LPs](https://app.shapeshift.com/earn/vault/yearn/deposit?chain=ethereum&contractAddress=0x4b5bfd52124784745c1071dcb244c6688d2533d3&tokenId=0xdf5c65efafe081d8).**

Perhaps a more conservative strategy? **Use [DAI Vault.](https://app.shapeshift.com/earn/vault/yearn/deposit?chain=ethereum&contractAddress=0xda816459f1ab5631232fe5e97a05bbbb94970c95&tokenId=0x6b175474e89094dee04daac98b)**

This is just the beginning, here's a brief tutorial :rocket:

## Depositing Tokens into V2 Vaults

Follow these steps:

- Select “Earn” tab on ShapeShift V2;
- Choose one of the 11 existing vaults;
- We'll select WETH on this example:
- Enter the amount to be deposited and select “Continue”;
- To deposit WETH, you will need to perform two transactions:
- **Approve** - Yearn Finance *smart contract* interaction
- **Confirm Deposit** - Before approval, the WETH deposit can be made in the *smart contract.*
> NOTE: these are two different rates, so this must be considered when depositing tokens.

- By confirming, your WETH will be accumulating income and you can withdraw it from your profits whenever you want 💸


All the deposited importance and stake earning in the Vault can be seen in “Overview” 😎.

How to withdraw tokens from V2 Vaults

As mentioned, staked tokens can be redeemed when the customer is interested. So, let's explain this process briefly!


- WETH deposits will result in a representative token called yvWETH, this happens due smart contracts interaction between V2 and Yearn Finance.

> When accessing “Withdraw” tab, ShapeShift V2 platform will automatically recognize your yvWETH balance.

*This amount will not be available for withdrawal if you staked your yWETH on another protocol. You will need to hold your yWETH again to be redeemed in Yearn Finance's Vault.*

- After identify your balances, enter the amount to be withdrawn.
- Confirm the operation paying Ethereum Mainnet fees.
- After this step, your yvWETH will be converted to WETH and returned to your wallet!

Pretty easy, right? ShapeShift DAO sought the best in DeFi and aims to deliver sustainable yields and awesome *smart contracts*, always looking for largest and reliable protocols.

> ShapeShift V2 is the representation of ShapeShift DAO: giving up the offer of centralized services by developing a complete DeFi protocol accessible by everyone!

Discover the new ShapeShift platform and enjoy all its benefits!

Do you have ideas for improvement?

Make us a visit in our Discord chat, we'll be happy to chat with you!

Author: [guiriba](https://guilhermebarbosa.substack.com/), ShapeShift DAO copywriter at LatAm Labs, Researcher and *degen*. Writes, a priori, about DeFi, NFTs and DAOs.

**Read more articles written by guiriba on [Mirror](https://mirror.xyz/0x4f88736cb3ec658B1078f1a362Af85397AcE109F)**

> [Odysee](https://odysee.com/@ShapeShiftDAObr:a)
> [Hive](https://hive.blog/@shapeshiftdaobr)

###### tags: `PT-DeFi-2.0`