Chainflip’s mission is to displace the centralised exchange.
Sale Has Ended
Content on this page was provided by the Chainflip team
Sale Has Ended
Chainflip is a cross-chain decentralised exchange, coordinated through its own application-specific blockchain. It is designed to have amazing pricing, support for both native BTC, EVM & substrate networks, and many other chain types. It also features cross-chain messaging support to maximise composability with current and future solutions to maximise asset coverage for users.
Chainflip is not building yet another bridge. Chainflip takes the best of all current cross-chain solutions and makes further optimisations not presently available to any of them. Chainflip is at the forefront of the new generation of AMM designs, enabling the protocol to leverage existing on and off-chain spot markets to provide a truly game-changing experience to users.
150 Main Validators and Scalable Signing Algorithm
A truly decentralised network requires a large validator set for redundancy, security, and anti-censorship. Chainflip employs 150 validators per vault, streamlining shared economic security compared to other cross-chain systems. Additionally, Chainflip's use of Schnorr signatures and an innovative signing scheme enables these 150 validators to support numerous assets and multiple parallel signing ceremonies without incurring excessive hardware costs.
Novel JIT AMM Design for Capital Efficiency
Chainflip's JIT (Just-In-Time) AMM design tackles cross-chain challenges by minimising slippage and offering precise pricing. It efficiently uses liquidity for large trades, acting as a decentralised aggregator across all markets. This makes Chainflip akin to an open and transparent decentralised OTC service, often beating other cross-chain services on price.
Generalized Cross-Chain Capability
Chainflip provides users with a permissionless method to swap assets between arbitrary chains and networks (L1, L2, etc) without introducing new wrapped assets, liquidity fragmentation, leaving users with tail risk, or excessive confirmation times.
Extensive Token Economics Design
Rigorous token design and well-modelled value capture mechanism. Fees are collected in USDC and are used to buy the FLIP token automatically from the AMM. If there is enough volume, FLIP, even with incentives, is capable of being a deflationary asset.
| Sale Date | August 31, 2023 at 17:00 UTC |
| Price & Lockup Terms |
$1.83 per token 100% unlock on TGE at Mainnet launch, currently expected on or around 24 October 2023; launch date subject to change and a max of 120 days after sale closes |
| Fully Diluted Network Value | $164,700,000.00 |
| Token Allocation for Sale | 4,500,000 FLIP tokens (ERC-20)1 |
| % of Total Supply* | 5.0% |
| Minimum & Maximum Purchase |
Minimum Purchase: $100.00 Maximum Purchase: $4,000.00 |
| Additional Allocation Requests2 |
Minimum Request: $100.00 Maximum Request: $8,000.00 |
| Funding Methods | USDC, USDT |
| Sale FAQ | Chainflip Sale FAQ |
| Eligible Participants | Excluded participants include residents of the US, Canada, China, Republic of Korea, and certain jurisdictions. |
1 An additional 2,400,000 FLIP tokens (2.7% of total supply) may be made available for purchase during the Chainflip Community Sale at the discretion of Chainflip and the Cross Chain Foundation.
2 Only applicable for sale participants who purchase the maximum amount of FLIP tokens ($4,000.00).
The FLIP token is the upcoming ERC-20 protocol token of the Chainflip decentralised exchange. Although Chainflip has its own blockchain, the multi-chain nature of the project allows the FLIP token to be on Ethereum for ease of use and adoption. Staking done on the Ethereum State Chain Gateway contract loads those tokens onto the Chainflip State Chain for use in the appchain environment.
Token Utility
The primary utility of the FLIP token is its role as collateral for Validator auctions. Validators require large stakes to economically secure the funds in the system and safely operate the vaults and accounting logic, earn rewards from the block reward, and maintain the Chainflip State Chain.
The rewards that Validators earn are offset by the DEX automatically converting the network fees collected in USD into FLIP and then burning it automatically within the protocol. This is done without the user needing to buy FLIP themselves. This deflationary mechanism helps to ensure the protocol security and capacity.
FLIP is also required as gas for Liquidity Provision and other services in order to process instructions on the decentralised exchange protocol. All transaction fees on the State-Chain are burned.
Token Distribution
Token Release Schedule
This release schedule shows the expected distribution of token unlocks over the 36 months following token launch. Please note that it is approximate based on date estimates, and may be impacted by altered dates and other events.
CoinList may have entered into a business or contractual relationship with the project team that has resulted in or could result in a personal benefit to CoinList’s employees, officers, directors and affiliates.