Chainflip Labs

Chainflip Labs

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Chainflip Labs brings you a decentralised, trustless protocol that enables cross chain swaps between different blockchains. It's 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.
To be announced
令牌详细信息
断续器
FLIP
总供应量
90,000,000
额外细节
KYC
分类
平台

关于 Chainflip Labs

For the first time in the history of the crypto industry, a decentralised exchange overtook the centralised players. Uniswap, almost overnight, became the primary market for ERC-20 tokens. Price discovery was now happening on-chain for assets whose markets used to be controlled by a handful of centralised custodial exchanges, and self-custody has become the standard for users of Ethereum.

Ever since the industry began, decentralised exchanges have been in constant discussion. Year after year, we are constantly reminded why this is an important issue. Although we never want to have to rely on an FTX or Mt. Gox again, sadly, we are often left with practically no choice. For example, there are still no efficient on-chain markets for BTC, despite the fact that BTC/USDT pair on *just* Binance alone has historically had more volume, liquidity, and trades than all decentralised exchanges combined. The fact that it's been nearly impossible to swap 100k USDC for native BTC in one on-chain step with less than 3%(!!) slippage to this point is a joke.

With increasing pressure on exchanges, Decentralised exchanges are mopping up more and more market share, with Coinbase being outperformed by Uniswap for almost all of 2023 so far. Uniswap dominates ERC-20 tokens, but the size of the spot markets relatively untouched by DeFi so far is vast. To reach these markets, cross-chain solutions are critical. Though they have been discussed for well over a decade now, today's solutions have so far failed to match, let alone beat, the centralised exchanges in their capabilities.

We at Chainflip believe that the best form of on-chain trading lies in native cross-chain swaps. This means trading and storing assets on their native blockchain using a decentralised virtual liquidity system powered by Threshold signature schemes (TSS) that runs ‘off-chain.’

When engineered correctly, these purpose built systems can vastly outstrip other approaches in terms of their ability to offer users exceptional pricing with a relatively small amount of liquidity, minimising on-chain gas fees, and supporting any arbitrary blockchain type.

This approach, free from the confines of smart contracts and able to operate within a custom execution environment, allows Chainflip to maximise efficiency with a specialised AMM - the JIT AMM.

On top of that, cross-chain messaging enables the simple movement of stablecoins and other common pairwise assets across smart contract blockchains and other protocols, a feature that we implement to best serve the user and their use case.

In order to be taken seriously, any decentralised protocol must itself take security seriously. Chainflip employs a layered defence system and rigorous security auditing before launch. Only when security is put at the forefront for users can the Uniswap effect be invoked.

Finally, as Chainflip, nor any other protocol, can reasonably expect to integrate every single blockchain or asset at once. The only real way to guarantee users can do what they want is to rely on aggregation and excellent pricing. We aim to work with existing aggregators and construct our own approach to ensure that when users come to Chainflip, they never have to give up and log onto a centralised exchange.

Over time, Chainflip aims to become a network of networks, supporting increasingly specialised cross-chain liquidity networks supporting classes of blockchains never previously integrated into the DeFi ecosystem - all with the goal of taking spot volume from the centralised exchanges.

Chainflip is uniquely positioned to evolve cross-chain composability too, with the TSS architecture capable of becoming not just a cross-chain messaging method, but something new called a cross-chain executor, unlocking extensive automation possibilities. This technology would bring the ecosystem much closer to the elusive dream of truly seamless cross-chain experiences frequently discussed but so far undelivered.

There is a multi-billion industry within Web3's own backyard ripe for displacement. With increasing regulatory pressure and consolidation within the centralised exchange sector, we can offer users a viable alternative, ensuring that a thriving on-chain market, like we see on Uniswap within Ethereum, exists for all on-chain assets.

%name%Roadmap

  • Completed Oct 2022

  • Sandstorm Milestone

    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 protocol is feature complete. After two years of development, the focus has now shifted to the Automated Market Maker (AMM) and swapping functionality.
  • Completed Nov 2022

  • Perseverence Launch
    (Persistent Testnet)

    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.
  • Completed Jul 2023

  • Security Audit

    What is it?
    A comprehensive security audit of the core protocol code has been completed. 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 incentivised activities, but this comprehensive external audit by the very best in the business should demonstrate the high level of security and layered defence in the core elements of the protocol before they go live with real money.
  • Completed Jul 2023

  • Ibiza Milestone
    (Swapping Demonstration)

    What is it?
    The MVP of the swapping functionality in our Perseverance testnet (0.8), supports native Ethereum, and ERC20 tokens on Goerli, BTC on the Bitcoin Testnet, and Perseverance Polkadot (pDOT). 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 core features.

    What does it mean?
    Our partners and supporters can use the Chainflip SDK to develop their own integrations ahead of launch, which will be an end-to-end test of all core protocol functionality and will inform additional features for mainnet deployment.
  • 阅读更多
  • Live Now

  • Token Sale

    What is it?
    The $FLIP token is being made available to a general audience now. You can read all you need to know about the token here.

    What does it mean?
    Our community members will be able to purchase $FLIP tokens for the first time. Stay tuned and sign up for announcements!
  • Q3 2023

  • Mainnet Initialisation & Token Launch

    What is it?
    Our validator auction system will finally go live on the mainnet. We bootstrap the network in anticipation of the official token launch allowing $FLIP holders to stake into validators straight away. Once everything is up and running, the Token Generation Event (TGE) takes place, where the token goes live and gets distributed to all recipients. To ensure the network can scale and have enough collateral staked across Validators, swapping and vaults will be disabled until real liquidity is secured.

    What does it mean?
    For the first time, the Chainflip network is entirely decentralised and autonomous after initialisation. Staking rewards will start as soon as the first auction is completed.
  • Q3 2023

  • Product Launch
    (Berghain Milestone)

    What is it?
    Following mainnet and token launches, and successful in-depth testing on Perseverance, we will launch swapping and liquidity provider functionality on mainnet with additional features. 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 Aggregators thanks to native support for Cross-Chain Messaging (CCM) 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 protocol but also offers all other assets via Aggregators. Everything you need in one place.
  • Q4 2023

  • Expand Chain Integrations

    What 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 chains in the top spot markets are supported by the Chainflip protocol, the more volume the protocol wins, and the better the overall experience.
  • Q1 2024

  • Expand Wallet Integrations

    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.
  • Q1 2024

  • Gas Optimisation: Auxiliary Chain

    What is it?
    By utilising the Cross-Chain Transfer Protocol (CCTP) and our low-gas protocol architecture, we upgrade the network by including an Auxiliary chain. This chain will dramatically decrease gas fees incurred by users when conducting pre and post-swap routing between different protocols and ecosystems. $USDC routing through an auxiliary chain will cut down bridging costs by an order of magnitude.

    What does it mean?
    On top of excellent swap pricing and wide asset coverage, Chainflip advances its position in the market by cutting gas costs on common EVM chain interactions during pre and post swaps, making Chainflip even more competitive in the cross-chain landscape.
  • Q2 2024

  • Cross-Chain Execution Support

    What is it?
    Building on the native Cross-Chain Messaging (CCM) functionality, Chainflip allows developers to leverage the validator network to execute arbitrary code on behalf of users. This enables large degrees of automation and cross-chain interactions not present in current cross-chain messaging protocols.

    What does it mean?
    Chainflip becomes much more than a swapping protocol — although that is 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 technically prepared for it.

Chainflip Labs 球队

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注意。未经证实的成员实际上可能不是团队成员

Simon Harman
Founder & CEO
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Martin Rieke
CTO
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Dan Lennon
Rust Engineering Lead
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