Chainflip, a decentralized and trustless protocol that enables seamless value transfer between various blockchains, has announced its Community Sale on CoinList. The sale is set to begin on August 31, 2023, at 17:00 UTC.
Chainflip’s protocol allows for the swapping of assets between different chains, including BTC, EVM, and substrate networks, without the need to wrap tokens or use traditional cross-chain bridges or centralized exchanges. The protocol’s Just-in-Time (JIT) Automated Market Maker (AMM) accesses liquidity from connected chains and partner aggregators, offering users competitive prices and low fees on spot trades.
The Chainflip Community Sale will offer 4,500,000 FLIP tokens (ERC-20) at a price of $1.83 per token. The tokens will be 100% unlocked on Token Generation Event (TGE) at mainnet launch, currently expected on or around October 24, 2023. This date is subject to change up to a maximum of 120 days after the sale closes. The initial purchase limits for the sale are set at a minimum of $100 and a maximum of $4,000. Registrations for the sale will close on August 28, 2023, at 12:00 UTC.
To participate in the Chainflip Community Sale, users must have funded their CoinList Wallet with the minimum purchase amount of $100 before the registration deadline. Additionally, the CoinList account must be fully funded with the desired purchase amount before the sale starts.
Chainflip aims to displace centralized exchanges by integrating the best aspects of existing cross-chain solutions and introducing unique optimizations. Key features include employing up to 150 validators per vault, providing redundancy, security, and anti-censorship. The use of Schnorr signatures and an innovative signing scheme allows these validators to support multiple assets without excessive hardware costs. The JIT AMM design minimizes slippage and offers precise pricing, efficiently using liquidity for large trades. Chainflip provides a permissionless method to swap assets between arbitrary chains and networks without introducing new wrapped assets or excessive confirmation times.
The Chainflip Community Sale is not available for residents of the United States, China, Canada, South Korea, and certain other jurisdictions. The sale is being distributed by Amalgamated Token Services Inc., dba “CoinList.”
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