Chainflip Price (FLIP)

Chainflip (FLIP) Price Now

Chainflip price today is $2.77 with a 24-hour trading volume of $269,687. FLIP price is down -0.4% in the last 24 hours. It has a circulating supply of 18.21Mil FLIP tokens and a total supply of 90Mil.
In order to search for real-time and historical information about Chainflip (FLIP) blockchain, including data related to blocks, transactions, addresses, and more, you may use Chainflip (FLIP) block explorers. Here are some of the most popular and useful Chainflip (FLIP) blockchain explorers out there:

• etherscan.io

What Is Chainflip(FLIP)?

Chainflip is a decentralised, trustless protocol that enables cross chain swaps between different blockchains. It's a bit like Uniswap, but allows users to swap assets between major blockchains without any wrapped tokens, traditional bridging, and at extremely competitive pricing using the JIT AMM. It is totally generalised, decentralised, and can be integrated with any chain using any transaction type.

What is the Utility of FLIP Token?

The primary utility of the $FLIP token is used as collateral for Validator auctions. Validators require large stakes, earn rewards from the block reward, and maintain the state chain for Chainflip by jointly controlling the liquidity vaults.

The rewards that Validators earn is 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. Therefore, even if you don't use the token to stake, there is still potential benefit in holding $FLIP.

$FLIP is also required for Liquidity Provision and Relaying services in order to process instructions on the decentralised exchange. All transaction fees on the State Chain are burned.

Chainflip(FLIP) Token Supply Metrics

• Genesis Supply: 90,000,000 $FLIP
• Supply Type: Elastic
• Annual Emission Cap: 8% (non-compounding)
• Annual Burning Expectation: 0-9% (dependant on volume)
• Expected Validator Supply Lockup: 45-55% in 1 year
• Expected Validator Yields: 13-15% APR in FLIP
• Initial Circulating Supply: 17,258,935 FLIP
• Initial Market Cap: $31,583,851

How does Chainflip  work?

Consider a centralised exchange. At its heart, an exchange is a software system which manages private keys (to collect deposits and send withdrawals) in a settlement layer and handles the execution of trades for users in a logically separated accounting layer. Chainflip is not really any different at a high level, except instead of the software being run by a single entity, Chainflip is a consensus-driven software which relies on a quorum of Validator nodes. In order to manage wallets, Chainflip uses Multi Party Computation (MPC) (also knows as TSS) to govern high-threshold multi signature wallets (100/150) operated through the permissionless Validator network. The network requires a constant supermajority to function, and can safely operate so long as an honest superminority remains, which is guaranteed through strong economic security. The State Chain defines the AMM and accounting ruleset, and the Validator Software manages individual shares of the multisig wallets owned by the protocol.

In a nutshell, the Validators operate a virtual AMM system that facilitates swaps between the industry's most liquid and most traded assets.

What is the protocol built on?

Chainflip has its own Proof-of-Stake blockchain, called the State Chain. To build the State Chain, we're using Substrate, which is the framework used to build Polkadot & Kusama. Chainflip does not intend to become a Parachain, and will be its own standalone chain.

The backend Validator protocol is written in Rust, and a full external audit will be published along with the source code before launching the protocol on mainnet. We also have relatively simple smart contracts which support the network on smart-contract compatible blockchains.

Do I need $FLIP tokens to swap on Chainflip?

No. Users only need the token they want to swap. $FLIP fees, where applicable, are automatically processed by the protocol for users.

What is the total number of tokens?

The initial token supply will be 90M $FLIP. This accounts for all tokens created at the beginning of the protocol, including locked tokens. Future emissions will go to Validators and limited liquidity programs.

What are the limitations of Chainflip?

The current architecture design makes Chainflip excellent at providing swapping at great prices on the industry's most traded blockchain assets, but each new blockchain added introduces additional overhead for Validators.

That's why Chainflip is partnering with a range of cross-chain aggregators and other decentralised protocols to offer users access to additional markets through mutual integration. This way, users will still have access to thousands of on-chain trading pairs through collaboration, and aggregators will be able to offer their users excellent pricing on the major assets through the protocol - making the swapping experience better for all.

Chainflip (FLIP) Community

• Twitter: https://twitter.com/chainflip
• Discord: https://discord.gg/chainflip-community
• Telegram: https://t.me/chainflip_io_chat

What is Chainflip (FLIP) Contracts address?

• Ethereum: 0x826180541412D574cf1336d22c0C0a287822678A