Cross Chain DEXes will only be relevant if they save users time. Chainflip is a protocol that allows swapping native assets between ecosystems with NO specialised software, NO custom wallet, NO pre-deposit, NO collateral and NO wrapped/synthetic counterparty asset whilst remaining entirely permissionless and decentralised.
That's the UX.
Chainflip’s token, FLIP, is used as collateral by the validator network to provide economic security to the network. The protocol charges a network fee between 0.10% and 0.20% every swap that is used to buy and burn FLIP tokens directly within the Chainflip AMM. All FLIP holders will be exposed to the upside of the protocol’s usage: The more volume the platform captures, the more FLIP tokens are bought and burned, benefiting all network participants evenly.
Chainflip unleashes what everybody wants: Native cross chain swaps. Forget about wrapped tokens or synthetic counterparty assets, you will always receive native assets on their native blockchain. This simplifies cross chain swaps to a single step and gives users access to liquidity across the whole market rather than fragmented pools created by competing wrapped token projects.
Chainflip is as easy to use as Uniswap. Users won’t need to back-up a key file, download a new browser wallet or install some special software. Just send your tokens and provide a compatible address. Users can access extended features with web3 wallets, but Chainflip won’t force users to hold or send their funds anywhere special to use the system.
Once the platform is launched and liquidity scales, we will provide swaps to every major blockchain ecosystem: Bitcoin, Ethereum, Polkadot, Solana, and any other major network that shows up in the future. Chainflip is a general solution to cross-chain liquidity, and can be extended to practically any network.
Chainflip runs its protocol within it’s own proof-of-stake blockchain called the State Chain. Built using substrate, the State Chain is ready to connect to the multichain Polkadot ecosystem, enabling the Polkadot network to access the wider crypto ecosystem, and vice versa.
Chainflip is a multifaceted protocol that can become one of the cornerstones of DeFi infrastructure. If you would like to find out more and get involved, check out these helpful links below: