Shyft NetworkPrice

(SHFT)

SHFT serves as the native utility token for the Shyft Network. It acts as the gas required to facilitate data verification and cover network transaction fees. Beyond its operational role, the token is essential for staking by Trust Anchors (validators) to secure the network. It also serves as a governance asset, allowing holders to participate in the Shyft DAO. Furthermore, SHFT is used to incentivize users who share their data attestations with institutions, creating a balanced ecosystem for decentralized identity and data management.

Veriscope is the flagship smart-contract framework developed by the Shyft Network. It is specifically designed to help Virtual Asset Service Providers (VASPs), such as exchanges and digital wallets, comply with the FATF Travel Rule. Veriscope solves the privacy vs. compliance dilemma by enabling the peer-to-peer exchange of KYC data without storing sensitive personal information on the blockchain. This infrastructure allows institutions to verify transacting parties while maintaining high standards of data privacy and security through decentralized protocols.

SHFT is primarily traded on platforms such as KuCoin, Gate.io, and Uniswap. While the token may be tracked on other major global exchanges for price data, it is not always available for active trading on those platforms. Users should ensure they are using supported exchanges that facilitate the specific version of the token they hold, whether it is the native Shyft Mainnet token or the ERC-20 version used on the Ethereum network.

No, the Shyft Network does not store sensitive personal KYC data on-chain. Security and privacy are core to the protocol's design. The network utilizes cryptographic proofs and peer-to-peer communication channels to facilitate compliance. Only the proof or attestation that a user has been verified is recorded on the blockchain. The actual sensitive information, such as names or identification documents, remains securely with the participating exchanges or the users themselves, preventing the risk of centralized data breaches.

Users can participate in the ecosystem by staking SHFT via the official Shyft Staking Dashboard. Staking is a critical component for network security and allows participants to earn rewards. These rewards are dynamic, determined by the total pool size and specific multipliers applied to users who lock their tokens for longer durations. Additionally, staking SHFT allows participants to engage with the Shyft DAO, providing them with a voice in governance decisions and the future technical direction of the protocol.

For 2026, the Shyft Network is focused on global regulatory expansion. Building on its successful implementation in markets like India, where it handles compliance for major exchanges, the project aims to extend its infrastructure to the Middle East and Europe. This expansion aligns with the implementation of comprehensive crypto regulations like MiCA. The project seeks to solidify its position as a leading infrastructure layer for institutional compliance, offering a decentralized alternative to traditional, siloed compliance service providers.