Announcing the Chainflip Community Sale on CoinList
We’re excited to announce that registration for the Chainflip Community Sale is now open.
Chainflip is a decentralized, trustless protocol that allows for seamless value transfer between any blockchain — including BTC, EVM, and substrate networks.
Using Chainflip’s Just-in-Time (JIT) Automated Market Maker (AMM), users are able to swap assets between chains without having to wrap tokens, use a traditional cross-chain bridge, or go through a centralized exchange. The JIT AMM accesses liquidity from its connected chains and partner aggregators to empower users with accurate, competitive prices and low fees on spot trades.
The sale begins on August 31, 2023 at 17:00 UTC and has one public option:
- Supply: 4,500,000 FLIP tokens (ERC-20)
- Price: $1.83 per token
- Lockup & release: 100% unlock on TGE at mainnet launch, currently expected on or around 24 October 2023 (date is subject to change up to a maximum of 120 days after sale closes)
- Initial purchase limits: $100 minimum, $4,000 maximum (USDT/USDC only)
Registrations close August 28, 2023 at 12:00 UTC.
Reminder: In order to be eligible to participate in the Chainflip Community Sale, you will need to have funded your CoinList Wallet with the minimum purchase amount ($100 in USDT or USDC) before the registration deadline (August 28 at 12:00 UTC).
Additionally, your CoinList account must be fully funded with your desired purchase amount before you can complete a transaction in the Chainflip Community Sale. That means users must make sure to fund their wallets with their intended purchase amount before the sale starts on August 31 at 17:00 UTC. There will no longer be a funding period for your initial purchase after the sale ends. For more information, please refer to this blog post.
The efficient cross-chain swapping protocol
Chainflip has a bold mission: to displace the centralized exchange. Instead of creating yet another bridge, Chainflip sets itself apart by integrating the finest aspects of existing cross-chain solutions while introducing unique optimizations currently absent in any other platform. By doing so, the protocol empowers Chainflip to capitalize on both on and off-chain spot markets, support for new blockchain types, and offer users an unparalleled and game-changing experience.
- 150 Main Validators and Scalable Signing Algorithm: A truly decentralized cross-chain network requires a large validator set for redundancy, security, and anti-censorship. Chainflip employs up to 150 validators per vault. This approach outstrips comparable cross-chain systems in terms of shared economic security. Additionally, Chainflip's use of Schnorr signatures and an innovative signing scheme allows 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 minimizing slippage and offering precise pricing. It efficiently uses liquidity for large trades, acting as a decentralized aggregator across all markets. This makes Chainflip akin to an open and transparent decentralized OTC service, often beating other cross-chain services on price.
- Generalized Cross-Chain Capability: Provide 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.
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