Crypto exchanger ShapeShift announced today the introduction of ShapeShift Membership, an advanced loyalty program, which over time will lead both to better pricing and superior user experience.

As of now, membership is optional, but ShapeShift CEO Erik Vorhees said it will soon become mandatory and require basic personal information to be collected.

ShapeShift members will receive special benefits and be made available on the website and through the ShapeShift API. Membership benefits in various forms will accrue across all products and services of ShapeShift.

Details of Membership:

Discount on exchange rates (Level 2+)

Volume-based rewards in FOX (ShapeShift ERC20 token)

Higher transaction limits

There are five levels of Membership (Level 1-5).

Level 1 is available now and is free and open to everyone.

Levels 2-5 will be available later and enable benefits on higher amounts of volume. Possession of specific amounts of FOX tokens (rather than spending or “burning”) grants access to these higher levels of Membership.

FOX tokens are standard Ethereum-based token. There are 1,000,001,337 FOX tokens in existence (and never more).

FOX tokens will represent only the means to acquire a ShapeShift Membership and the related membership benefits. Their value can be found in the benefits of the varying membership levels. Signup is open now, with the first 100,000 members to receive 100 FOX tokens upon their release.