What is it?
The complete feature set needed as the foundation of the protocol. The Chainflip State Chain, FROST multisig operations, FLIP management contracts, cross-chain witnessing and broadcasting functionality, Ethereum/EVM integration, and basic governance features are all included in this milestone. It is the base on which the swapping and liquidity functionality is built.
What does it mean?
The fundamental components of the backend protocol, although it has taken two years to fully develop, is feature complete, and the focus has now switched to the AMM and swapping more generally.
What is it?
Our first persistent testnet. Built on the shoulders of ‘Soundcheck’ — our previous testnet — we have an improved and robust validator network that enables us to test what our technology can do firsthand, at scale. It also allows us to test features and upgrades as we go along. Perseverance is the largest-scale public deployment of the FROST Threshold Signature Scheme to date.
What does it mean?
You can join us by setting up a node and interacting firsthand with the testnet validator network which is intended to be as close as possible to mainnet. While there are no immediate incentives to run a node, we are working on a very unique (and hopefully very fun) incentives program for this test network…stay tuned!
What is it?
The MVP of the swapping functionality in our testnet, supports native Ethereum, other EVM chains, ERC20 tokens, and Substrate based chains (DOT). Swaps between these assets are powered by the JIT AMM for the first time on-chain. This milestone enables permissionless cross-chain swaps as a complete demonstration of the backend's essential features.
What does it mean?
We'll run tests with real money and a limited audience (team and advanced members only) to discover where there is room for improvement and to sharpen the user experience for launch. It will be an end-to-end test of all core protocol functionality and will dictate the final additional features for the mainnet deployment.
What is it?
We're running a comprehensive security audit of the core protocol code. We have thought long and hard about Chainflip's protocol security and take it very seriously. This includes the State Chain and Chainflip Engine code — both needed to run a validator node — all our smart contracts, and the communication and cryptography protocols used.
What does it mean?
Security is a core value for Chainflip. You can contribute by joining our bug bounty competitions and other incentivized activities, but this comprehensive external audit by the very best in the business should demonstrate the high level of security and layered defense in the core elements of the protocol before they go live with real money.
What is it?
Our validator auction system will finally go live on the mainnet. Bootstrapping the network is necessary before the official token launch to ensure that FLIP holders can stake into validators straight away. Swapping and vaults will be disabled, to begin with.
What does it mean?
From the very start, the Chainflip network is entirely decentralized and autonomous after initialisation. Staking rewards will start as soon as the first auction is completed.
What is it?
The Token Generation Event (TGE) for FLIP tokens happens immediately after the launch of the validator network on mainnet.
What does it mean?
Our community members will be able to purchase FLIP tokens for the first time. In preparation for the TGE, you can learn more about how fair the process is by checking Building Liquidity into Token Distribution. Learn more about $FLIP in our token page and make sure to sign up for announcements.
What is it?
Following the Mainnet and token launches, and successful in-depth testing on Perseverance, we will launch swapping and liquidity provider functionality on mainnet with additional features than the Ibiza milestone. We call this release ‘Berghain’ because the party will have truly started. This includes the initially supported assets (ETH, DOT, BTC, and more) by the Chainflip protocol and also all other assets by external integrations with DEX aggregators thanks to native support for cross-chain messaging from day one.
What does it mean?
A smooth swapping experience that enables accurate pricing and low slippage for the assets powered by the Chainflip's protocol but also offers all other assets via DEX aggregators. Everything you need in one place.
* Image displayed is not the final product interfaceWhat is it?
Following our product launch, the strategy is to keep supporting more chains to eventually cover the biggest spot markets — especially underserved non-EVM chains. The decision on which chain should be next is based on market demand but also on integration complexity. Public governance processes will guide this conversation as well.
What does it mean?
The more effective chains supported by the Chainflip protocol, the more volume the protocol wins, and the better the overall experience, since most of the trading volume happens in the top spot markets.
What is it?
Include the most trusted and widely adopted wallets (hot and cold) in the market to expand the reach of the protocol to help users achieve their goal of efficient on-chain swaps.
What does it mean?
These integrations will bring significant volume to Chainflip, and therefore also strong liquidity as well, with more liquidity providers getting in on the action.
What is it?
Building on the native cross-chain messaging functionality, Chainflip allows developers to take advantage of the validator network to execute arbitrary extrinsics on behalf of users, enabling large degrees of automation and cross-chain interactions not presently possible in current cross-chain messaging protocols.
What does it mean?
Chainflip becomes much more than a swapping protocol — although that is by far the best use case at the moment. Cross-chain execution enables truly composable experiences only dreamt about in Web3, and Chainflip is one of only a few protocols architecturally prepared for it.
