CoinList announces that the Chainflip (FLIP) token sale will begin at 1:00 AM on September 1st (Beijing time). Let's take a look at the next-generation cross-chain DEX, Chainflip.
Chainflip is a decentralized, trustless protocol that allows for seamless value transfer between any blockchains, including BTC, EVM, and underlying networks.
Using Chainflip's Just-in-Time (JIT) Automated Market Maker (AMM), users can swap assets across chains without the need to wrap tokens, use traditional cross-chain bridges, or rely on centralized exchanges. The JIT AMM leverages liquidity from its connected chains and partner aggregators, providing users with accurate and competitive pricing as well as low spot trading fees.
Chainflip doesn't create new bridges but instead integrates the advantages of existing cross-chain solutions while introducing optimization mechanisms.
150 Major Validators and Scalable Signature Algorithms
A truly decentralized cross-chain network requires a large set of validators to achieve security and resistance to censorship. Chainflip deploys up to 150 validators per treasury. This approach surpasses similar cross-chain systems in terms of security for shared economy. Additionally, Chainflip uses Schnorr signatures, enabling these 150 validators to support a wide range of assets and parallel signing without incurring excessive hardware costs.
JIT AMM Designed for Capital Efficiency
Chainflip's Just-in-Time (JIT) AMM design addresses cross-chain challenges by minimizing slippage and providing accurate pricing. It effectively utilizes the liquidity of large trades, serving as a decentralized aggregator for all markets. This makes Chainflip akin to an open and transparent decentralized OTC service, offering price advantages.
Token Economic Model
Chainflip Labs announced the token economic model and will airdrop to the community. FLIP is the ERC-20 native token of Chainflip Labs, expected to launch in Q2 2023. The initial supply of the token is 90 million, with an annual inflation rate of 8%.
The allocation plan is as follows:
(1) Airdrop 4.75 million FLIP tokens to service node operators who participated in the Service Node airdrop plan in 2020 and 2021;
(2) 6.9 million FLIP tokens for token sales;
(3) 13 million FLIP tokens allocated to contributors;
(4) Approximately 34 million FLIP tokens allocated to strategic investors;
(5) 4.2 million FLIP tokens allocated to the Oxen Foundation;
(6) 49,685,03 FLIP tokens as liquidity;
(7) 22 million FLIP tokens as reserve funds.
According to reports, Chainflip Labs raised $10 million with participation from Framework Ventures, Blockchain Capital, and Pantera Capital in exchange for equity in the company. Simon Harman, the founder and CEO of Chainflip, stated that the startup is attempting to maximize capital efficiency through a simple interface and user experience, eliminating the need for wrapped tokens or small wallets.
