Chainflip has announced its community sale on CoinList, a decentralised and trustless technology that facilitates smooth value transfer between different blockchains. At 17:00 UTC on August 31, 2023, the sale is scheduled to start.
The Chainflip protocol eliminates the need for token wrapping, conventional cross-chain bridges, or centralised exchanges to transfer assets between other chains, including BTC, EVM, and substrate networks. Users can take advantage of competitive rates and low fees on spot trades thanks to the protocol’s Just-in-Time (JIT) Automated Market Maker (AMM), which accesses liquidity from connected chains and partner aggregators.
At a cost of $1.83 per FLIP token (ERC-20), the Chainflip Community Sale will sell 4,500,000 tokens. The Token Generation Event (TGE), which is scheduled to take place on or about October 24, 2023, will see a complete unlocking of the tokens. A maximum of 120 days after the sale closes are allowed for changes to this date. The starting purchase thresholds for the sale are $100 for minimum purchases and $4,000 for maximum purchases. On August 28, 2023, at 12:00 UTC, the sale’s registration period will close. Users that funded their CoinList Wallets with the required minimum $100 purchase before the registration deadline were eligible to participate in the Chainflip Community Sale. The requested purchase must also be fully funded in the CoinList account.
Through the incorporation of the greatest features of current cross-chain solutions and the introduction of novel optimisations, Chainflip seeks to replace centralised exchanges. Up to 150 validators can be employed per vault, and other important characteristics include redundancy, security, and anti-censorship.
These validators enable many assets without incurring excessive hardware expenses since they make use of Schnorr signatures and an inventive signing scheme. The JIT AMM design provides precise pricing, reduces slippage, and effectively uses liquidity for large trades.
Chainflip offers a permissionless technique to exchange assets between arbitrary chains and networks without adding new wrapped items or lengthy confirmation delays.Residents of China, Canada, South Korea, the United States, and a few other countries are not eligible to participate in the Chainflip Community Sale. Amalgamated Token Services Inc., dba “CoinList,” is in charge of distributing the sale.