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TL;DR
- ShoeFy (SHOE) is a dualâtoken ecosystem that mixes ERCâ20 $SHOE coins with onâchain shoeâthemed sNFTs.
- Token supply is capped at 100million, with ~13million circulating; current price hovers around $0.0011.
- Users can stake sNFTs to earn $SHOE or farm new sNFTs by locking $SHOE tokens.
- Price has fallen >99% from the IDO launch price of $0.4, and the token is only on DEXs.
- Security was audited by CertiK, but community size and liquidity remain very small.
ShoeFy (SHOE) has been buzzing in niche NFT circles for a few years, but many newcomers still wonder what exactly it is and whether itâs worth a look. Below youâll get a plainâEnglish walkâthrough of the platform, its token economics, how you actually use the system, and the biggest risks you should keep in mind before you dip a toe in.
ShoeFy is a decentralized platform that blends fungible ERCâ20 tokens with nonâfungible shoe collectibles (sNFTs) to create a hybrid DeFiâNFT experience. The project launched its Initial DEX Offering (IDO) in October 2021, raising roughly $8.37million across three funding rounds.
What is ShoeFy?
At its core, ShoeFy is a niche NFT marketplace built around digital sneakers. Each sneaker lives as a sNFT an ERCâ721 token representing a randomly generated onâchain digital shoe. Owners can display them in a virtual gallery, trade them on compatible DEXs, or lock them in the platformâs staking contracts to earn passive income.
The ecosystem revolves around two token types:
- $SHOE the native ERCâ20 utility token used for fees, rewards, and liquidity provision.
- sNFT the ERCâ721 digital shoe collectible that can be staked for $SHOE earnings.
The idea is simple: convert a traditionally illiquid NFT into a yieldâgenerating asset while also giving traders a way to swap NFTs for $SHOE tokens on demand.
Tokenomics of the $SHOE Coin
The $SHOE token follows the standard ERCâ20 Ethereum token standard for fungible tokens model. Key numbers as of October2025:
- Total supply: 100million $SHOE
- Circulating supply: ~13.01million
- Private/preâsale allocation: 17.11% (â17.11M)
- Public sale allocation: 2.50% (â2.5M)
- Current market price: $0.001072-$0.001164 USD
- Market cap: $13.9k-$15.1k USD
- Fully Diluted Valuation (FDV): â$107k USD
Those figures illustrate a very thin market: low volume, a tiny cap, and a price that is a fraction of its allâtime high ($1.72). The current ROI for anyone who bought at the $0.4 IDO price is roughly -99.7%.
How the DualâToken System Works
There are three main interactions you can perform on ShoeFy:
- Stake sNFTs: Lock a digital shoe in the staking contract. The protocol distributes $SHOE tokens proportionally to the staked NFTâs rarity score.
- Farm new sNFTs: Deposit $SHOE into a farming pool. After a set period, you receive a newly minted sNFT drawn from a specific category (e.g., âSneakerâSeriesAâ).
- Liquidity provision: Pair $SHOE with sNFTs in an ERCâ20/ERCâ721 liquidity pool. Traders can instantly swap a shoe for $SHOE or viceâversa, mitigating the usual âlockâupâ problem of NFTs.
All three mechanisms are designed to keep $SHOE in circulation and give sNFT holders a revenue stream, even if the underlying collectible never sells on a secondary market.
Market Performance and Risk Snapshot
Understanding the market context is vital before you allocate any capital.
| Metric | Value |
|---|---|
| Current price (USD) | $0.0011 (±5%) |
| 24âhr volume | $12k-$19k |
| Market cap | $14k-$15k |
| FDV | â$107k |
| Allâtime high | $1.72 |
| ROI from IDO price | -99.7% |
Two risk factors dominate:
- Liquidity: $SHOE is only listed on a handful of decentralized exchanges (e.g., Uniswap, PancakeSwap). Youâll face slippage if you try to move large amounts.
- Community size: With a CoinMarketCap rank around #3,428, the active user base is tiny. Low trading activity often translates into stagnant price discovery.
On the upside, the platform did receive a CertiK independent blockchain security audit firm audit, giving some confidence that the smart contracts are free from major vulnerabilities.
Comparison with Other NFT & DeFi Projects
| Feature | ShoeFy | OpenSea | Axie Infinity (AXS) |
|---|---|---|---|
| Primary focus | Shoeâthemed NFTs + $SHOE token | General NFT marketplace | Playâtoâearn gaming |
| Token standard | ERCâ20 + ERCâ721 | ERCâ721 (no native FT) | ERCâ20 (AXS) + ERCâ721 (Axies) |
| Liquidity pools | ERCâ20/ERCâ721 LPs | None (orderâbook model) | AXS liquidity on major DEXs |
| Exchange listings | DEX only | Centralized (many) + DEX | CEX & DEX |
| Market cap (Oct2025) | $15k | $14b | $3b |
| Community size | Few thousand active wallets | Millions of users | Over 1million active players |
The table makes clear why ShoeFy is considered a highârisk, niche play. It lacks the broad appeal and deep liquidity of OpenSea or Axie Infinity, but it does offer a unique dualâtoken model that you wonât find elsewhere.
How to Buy and Trade $SHOE
Because $SHOE isnât on major CEXs, youâll need a Web3 wallet (MetaMask, Trust Wallet, etc.) and some ETH or BNB for gas fees. Follow these steps:
- Set up a wallet and fund it with ETH (for Ethereum) or BNB (for BSC).
- Navigate to a supported DEX - Uniswap (Ethereum) or PancakeSwap (BSC).
- Paste the $SHOE contract address:
0x0fD67B9A77032c9(Ethereum) or0xc0f42b9bc(BSC). - Enter the amount you want to swap, confirm the transaction, and wait for the receipt.
- Once you hold $SHOE, you can stake it in the farming contracts via the ShoeFy UI to earn new sNFTs.
Remember to doubleâcheck the contract address; scams are common for lowâcap tokens.
Future Roadmap & Outlook
The ShoeFy team has hinted at three main milestones for the next 12â18 months:
- Metaverse integration: Deploy digital kicks inside a 3D virtual world, letting owners wear them on avatars.
- Brand partnerships: Potential collaborations with realâworld sneaker brands for limitedâedition sNFT drops.
- Crossâchain expansion: Adding Polygon and Solana bridges to grow the user base beyond Ethereum/BSC.
Progress has been slow so far. No major contract upgrades or new DEX listings have been announced since early 2023. That lag raises a red flag for investors hoping for rapid appreciation. The projectâs upside now hinges on securing broader exchange listings and delivering on the promised partnerships.
Bottom Line - Should You Consider $SHOE?
If you love collectible sneakers and want to experiment with a hybrid NFT/DeFi model, ShoeFy offers a playground you wonât get on OpenSea. However, the tokenâs price collapse, thin liquidity, and tiny community mean itâs a very speculative play. Treat any $SHOE exposure as a small, highârisk allocation-never more than you can afford to lose.
Frequently Asked Questions
What does the $SHOE token do?
$SHOE is the platformâs utility token. Itâs used to pay fees, claim staking rewards, farm new sNFTs, and provide liquidity in ERCâ20/ERCâ721 pools.
How can I earn $SHOE without buying it?
By staking your sNFTs in the platformâs reward contract. The amount you earn depends on the rarity tier of the locked sneaker.
Is ShoeFy safe to use?
The smart contracts were audited by CertiK, which found no critical vulnerabilities. Nonetheless, low liquidity and limited community support increase operational risk.
Where can I trade $SHOE?
$SHOE is available on decentralized exchanges such as Uniswap (Ethereum) and PancakeSwap (BSC). Youâll need a Web3 wallet and some ETH or BNB for gas.
Whatâs the future of ShoeFy?
The team talks about metaverse integration, brand collaborations, and crossâchain bridges, but no concrete milestones have been delivered since 2023. Expect a slow rollout.
Cryptocurrency Guides
John Kinh
November 11, 2024 AT 22:06Looks like another meme coin trying to shoehorn NFTs into DeFi đ
Michael Wilkinson
November 14, 2024 AT 12:58If you think that's groundbreaking, you clearly lack basic crypto fundamentals.
Billy Krzemien
November 17, 2024 AT 03:49The $SHOE tokenomics are, frankly, a textbook example of a hyperâinflated supply paired with negligible demand. With a circulating supply of roughly 13âŻmillion and a total cap of 100âŻmillion, the token is already deeply diluted. Its market cap hovers around $15âŻk, which places it well below the threshold for meaningful liquidity on any reputable exchange. The price collapse from $0.4 at IDO to roughly $0.0011 today represents a loss of over 99âŻ% for early investors. Staking sNFTs does generate a token stream, but the reward rates are directly tied to the rarity of the shoe, which is an opaque metric that few understand. Farming new sNFTs requires locking $SHOE, yet the underlying token continues to lose value, creating a negative feedback loop. Moreover, the dualâtoken mechanism adds complexity without delivering clear utility beyond a niche collector market. The audit by CertiK is a positive signal, but an audit does not guarantee market adoption or price stability. Liquidity is limited to a handful of DEXs, meaning any sizable trade will experience severe slippage. Community size is minuscule, reflected by a CoinMarketCap rank in the thousands, which reduces organic discovery. The roadmap mentions metaverse integration and brand partnerships, but no concrete milestones have been met since 2023. In practice, the platform feels like a sandbox for developers rather than a viable investment vehicle. If you are considering exposure, treat it as a highârisk speculative play and allocate only a fraction of your portfolio. Diversification across more established assets is advisable. Finally, always doubleâcheck the contract address to avoid scams, as lowâcap tokens are frequent targets for rug pulls.
april harper
November 19, 2024 AT 18:41One might contemplate the metaphysical implications of binding digital footwear to a volatile token, questioning whether the pursuit of virtual sole is an echo of our existential search for meaning. The very act of staking a shoe becomes a ritual, a symbolic surrender to the capricious tides of market sentiment.
Clint Barnett
November 22, 2024 AT 09:32When we peel back the layers of this ambitious yet precarious construct, we witness a kaleidoscope of ambitions colliding-an alchemical blend of decentralized finance, NFT artistry, and community-driven gamification. Each sNFT, meticulously rendered in code, attempts to capture the essence of sneaker culture while simultaneously serving as a yieldâbearing instrument, a paradox that both dazzles and perplexes. The tokenomics, though dressed in the garb of innovation, reveal a stark asymmetry: an overwhelming supply diluted across a sparsely populated market, where the echoes of liquidity are heard faintly across a handful of decentralized exchanges. In this arena, the rarity algorithm functions as a hidden arbiter, assigning value in ways that are as inscrutable as the provenance of a vintage collectorâs item, yet it lacks the transparent pedigree that seasoned collectors demand. Meanwhile, the roadmapâs promises of metaverse integration and brand affiliations read like a sirenâs call, beckoning investors toward a horizon that, to date, remains uncharted. Such grand visions, while intoxicating, must be weighed against the stark reality of operational inertia observed since early 2023, where hardly any substantive upgrades or exchange listings have materialized. Consequently, the project teeters on a tightrope, suspended between the allure of speculative novelty and the sobering gravity of market fundamentals, leaving participants to grapple with the question: does the thrill of digital footwear outweigh the tangible risk of capital erosion?
Jacob Anderson
November 25, 2024 AT 00:23Another overâhyped token that promises returns while delivering a textbook case of liquidity nightmare.
Kate Nicholls
November 27, 2024 AT 15:15While itâs easy to dismiss the project outright, the audit by CertiK does mitigate some of the smartâcontract risk. However, the fundamental issue remains the minuscule market depth and the stark price depreciation, which are unlikely to reverse without significant external inflows.
Carl Robertson
November 30, 2024 AT 06:06Imagine a world where your digital sneakers could actually pay the rent-now stop dreaming and face the cold reality of a token stuck on obscure DEXes, gas fees eating away any potential profit.
Rajini N
December 2, 2024 AT 20:58To acquire $SHOE, first ensure your wallet is funded with the appropriate native asset (ETH for Ethereum, BNB for BSC). Navigate to a supported decentralized exchange such as Uniswap or PancakeSwap, and input the official contract address: 0x0fD67B9A77032c9 (Ethereum) or 0xc0f42b9bc (BSC). Verify the address carefully to avoid phishing scams, then set a reasonable slippage tolerance-typically 0.5â1âŻ% for lowâvolume tokens-to ensure the transaction executes. After confirming the swap, add the token to your walletâs token list using the same contract address. Finally, you can stake your $SHOE in the platformâs farming contract via the official UI to begin earning sNFT rewards.
Sidharth Praveen
December 5, 2024 AT 11:49Great steps! Even with the modest liquidity, the potential to earn unique sNFTs makes it a fun sideâproject for those willing to experiment.
Sophie Sturdevant
December 8, 2024 AT 02:41The platformâs dualâtoken architecture leverages ERCâ20 fungibility for fee settlements while deploying ERCâ721 sNFTs as yieldâgenerating assets, creating a symbiotic ecosystem where token velocity is sustained through staking incentives and liquidity provisioning.
Nathan Blades
December 10, 2024 AT 17:32Exactly-by embracing this model, early adopters can both participate in the nascent DeFiâNFT space and potentially reap outsized rewards if the platform gains traction.
Somesh Nikam
December 13, 2024 AT 08:23Letâs keep the optimism alive! đ Even a modest APY on $SHOE can be worthwhile when combined with the uniqueness of the sneaker NFTs.
Jan B.
December 15, 2024 AT 23:15Liquidity is thin.
MARLIN RIVERA
December 18, 2024 AT 14:06Thin liquidity is a charming way to say youâll get slippage the size of your ego.
Debby Haime
December 21, 2024 AT 04:58Summing up, $SHOE offers an innovative approach by merging NFT collectibles with DeFi incentives, yet its market cap, liquidity constraints, and steep price decay pose significant risks. Investors should conduct thorough due diligence, limit exposure, and stay alert for any roadmap developments that could unlock real utility.
emmanuel omari
December 23, 2024 AT 19:49While the summary is concise, letâs not forget that the broader crypto ecosystem offers far more robust projects with proven community support and institutional backing, making $SHOE an inferior choice for serious portfolios.
Andy Cox
December 26, 2024 AT 10:40Just a headsâup: the tokenâs price movements are mostly driven by a handful of whales, so beware of sudden dumps.
Courtney Winq-Microblading
December 29, 2024 AT 01:32Indeed, the concentration of holdings reflects a microâcosm of power dynamics, where a few custodians dictate market sentiment, echoing larger philosophical debates about decentralization versus centralization in blockchain ecosystems.
katie littlewood
December 31, 2024 AT 16:23Delving deeper into the tokenâs architecture reveals a labyrinthine design that attempts to reconcile the contradictory forces of scarcity and abundance. On one hand, the sNFTs provide a tangible sense of rarity, each sneaker cataloged with a unique identifier that appeals to collectors seeking exclusivity. On the other hand, the $SHOE token itself suffers from an oversupply that dilutes any perceived value, leaving investors to wrestle with a market cap that hovers in the lowâfourâdigit range. The staking mechanism, while innovative in concept, distributes rewards proportionally to the rarity tier of the locked sneaker, thereby privileging those who already hold higherâgrade assets and creating an inherent barrier for newcomers. Moreover, the farming process mandates locking $SHOE to mint new sNFTs-a move that could exacerbate token inflation if the emitted NFTs do not attract sufficient secondary market demand. The dualâtoken model, though theoretically sound, becomes entangled in practical execution challenges, especially given the platformâs limited presence on decentralized exchanges and the resulting high slippage for any sizable trade. Community engagement remains modest; while the teamâs vision of integrating with metaverse platforms and forging brand partnerships sounds promising, the lack of concrete milestones since 2023 casts doubt on the feasibility of these aspirations. In essence, the project straddles the line between avantâgarde experimentation and speculative folly, offering a niche playground for enthusiasts while presenting a highârisk proposition for investors seeking substantial returns.
Jenae Lawler
January 3, 2025 AT 07:15While the preceding exposition is undeniably verbose, it fails to acknowledge that true value resides in projects with demonstrable adoption metrics and robust governance frameworks, criteria that $SHOE conspicuously lacks.
Chad Fraser
January 5, 2025 AT 22:06All valid points-still, for anyone who loves sneaker culture and wants to dabble in crypto, giving $SHOE a tiny test allocation could be an exciting experiment.