Chainflip

Chainflip is a decentralised cross-chain exchange protocol that lets users swap cryptocurrency assets across different blockchains without giving up custody of those assets at any point. It addresses the problem of fragmented liquidity and the reliance on wrapped tokens or traditional bridges, which typically introduce counterparty risk or complexity. The protocol is designed for anyone who wants to move value between major blockchains directly, without intermediaries.

Chainflip runs on its own network secured by a set of 150 validators who stake the native FLIP token; staking is the mechanism by which validators earn the right to participate and receive rewards denominated in FLIP. Swaps are executed through a 'Just-in-Time' Automated Market Maker, meaning liquidity providers can quote prices at the moment of each swap rather than relying on pre-deposited pools, which the protocol claims results in more competitive pricing. Every swap also triggers an automatic purchase and burn of FLIP tokens from the liquidity pool system, applying deflationary pressure as volume flows through the network.

Fee revenue is generated by swap activity on the protocol and returned indirectly to validators rather than flowing to a treasury or token holders at large. A portion of each swap's value is used to buy and burn FLIP tokens automatically, linking token supply to trading volume over time. The circulating supply stands at approximately 88,540,989 FLIP, with 100 percent of supply already issued and no additional supply pending, meaning dilution overhang is recorded at 0.0 percent at this point in time. The fully diluted valuation equals the market capitalisation at 1.0 times, reflecting the absence of any unvested or locked supply yet to enter circulation.