About the Feebas „CD“

No one knows until the event starts for the first region. Could be either random per player like shiny chance from regular field research, or could be fixed shiny per pokestop like Squirtle CD research.

We won't know until Europe gets the event and reports in. With the snowstorm coming in where I live I really hope it's that way so I can target shiny stops only.

Remember that Squirtle was a Community day, and the quest was a way to get the one with Sunglasses. With Feebas, it's not a CD, it's a limited research day, so it's about the research, not about Feebas per se (although all the research gets you a Feebas, of course).

So event is over here in Europe. Turns out shiny Feebas was not so frequent, but don't know the stats on large scale. And yes shiny chance is individual.

Really poor rate. 7 people in car- only 2 shinies for one guy. Other groups have similiar rate with best was 3/6 shinies in one car.