TL;DR

• ShoeFy (SHOE) is a dual‑token ecosystem that mixes ERC‑20 $SHOE coins with on‑chain shoe‑themed 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 it’s worth a look. Below you’ll get a plain‑English walk‑through 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 ERC‑20 tokens with non‑fungible shoe collectibles (sNFTs) to create a hybrid DeFi‑NFT 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 ERC‑721 token representing a randomly generated on‑chain digital shoe. Owners can display them in a virtual gallery, trade them on compatible DEXs, or lock them in the platform’s staking contracts to earn passive income.

The ecosystem revolves around two token types:

1. $SHOE the native ERC‑20 utility token used for fees, rewards, and liquidity provision.
2. sNFT the ERC‑721 digital shoe collectible that can be staked for $SHOE earnings.

The idea is simple: convert a traditionally illiquid NFT into a yield‑generating 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 ERC‑20 Ethereum token standard for fungible tokens model. Key numbers as of October2025:

• Total supply: 100million $SHOE
• Circulating supply: ~13.01million
• Private/pre‑sale allocation: 17.11% (≈17.11M)
• Public sale allocation: 2.50% (≈2.5M)
• Current market price: $0.001072-$0.001164 USD
• Market cap: $13.9k-$15.1k USD
• Fully Diluted Valuation (FDV): ≈$107k USD

Those figures illustrate a very thin market: low volume, a tiny cap, and a price that is a fraction of its all‑time high ($1.72). The current ROI for anyone who bought at the $0.4 IDO price is roughly -99.7%.

How the Dual‑Token System Works

There are three main interactions you can perform on ShoeFy:

1. Stake sNFTs: Lock a digital shoe in the staking contract. The protocol distributes $SHOE tokens proportionally to the staked NFT’s rarity score.
2. 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., “Sneaker‑SeriesA”).
3. Liquidity provision: Pair $SHOE with sNFTs in an ERC‑20/ERC‑721 liquidity pool. Traders can instantly swap a shoe for $SHOE or vice‑versa, mitigating the usual “lock‑up” 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.

Two risk factors dominate:

• Liquidity: $SHOE is only listed on a handful of decentralized exchanges (e.g., Uniswap, PancakeSwap). You’ll 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

The table makes clear why ShoeFy is considered a high‑risk, niche play. It lacks the broad appeal and deep liquidity of OpenSea or Axie Infinity, but it does offer a unique dual‑token model that you won’t find elsewhere.

How to Buy and Trade $SHOE

Because $SHOE isn’t on major CEXs, you’ll need a Web3 wallet (MetaMask, Trust Wallet, etc.) and some ETH or BNB for gas fees. Follow these steps:

1. Set up a wallet and fund it with ETH (for Ethereum) or BNB (for BSC).
2. Navigate to a supported DEX - Uniswap (Ethereum) or PancakeSwap (BSC).
3. Paste the $SHOE contract address: 0x0fD67B9A77032c9 (Ethereum) or 0xc0f42b9bc (BSC).
4. Enter the amount you want to swap, confirm the transaction, and wait for the receipt.
5. Once you hold $SHOE, you can stake it in the farming contracts via the ShoeFy UI to earn new sNFTs.

Remember to double‑check the contract address; scams are common for low‑cap tokens.

Future Roadmap & Outlook

The ShoeFy team has hinted at three main milestones for the next 12‑18 months:

• Metaverse integration: Deploy digital kicks inside a 3D virtual world, letting owners wear them on avatars.
• Brand partnerships: Potential collaborations with real‑world sneaker brands for limited‑edition sNFT drops.
• Cross‑chain 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 project’s 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 won’t get on OpenSea. However, the token’s price collapse, thin liquidity, and tiny community mean it’s a very speculative play. Treat any $SHOE exposure as a small, high‑risk allocation-never more than you can afford to lose.

Frequently Asked Questions

What does the $SHOE token do?

$SHOE is the platform’s utility token. It’s used to pay fees, claim staking rewards, farm new sNFTs, and provide liquidity in ERC‑20/ERC‑721 pools.

How can I earn $SHOE without buying it?

By staking your sNFTs in the platform’s 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). You’ll need a Web3 wallet and some ETH or BNB for gas.

What’s the future of ShoeFy?

The team talks about metaverse integration, brand collaborations, and cross‑chain bridges, but no concrete milestones have been delivered since 2023. Expect a slow rollout.