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Chainflip has officially launched its full protocol enabling users to seamlessly exchange native $BTC, $ETH, and $DOT tokens at highly favorable rates, entirely on-chain. Notably, there are now no constraints on the size of the swaps, ushering in a new era of freedom for users engaging in decentralized trading.
🟢 Full Protocol Release is LIVE!
— CHAINFLIP LABS (@Chainflip) March 11, 2024
Enjoy swapping native $BTC, $ETH, & $DOT at the most competitive rates, fully on-chain, with no limits. Additionally, we are introducing the $FLIP Buy and Burn mechanism.
For more details on what "no caps" and "burning" mean, read on below. ⬇️ pic.twitter.com/DZ91Z55tFC
A pivotal aspect of Chainflip's full protocol release is the elimination of swap size restrictions. This change empowers users to trade goods without any limitations on the amount involved. The move signifies a paradigm shift, offering users unparalleled freedom and flexibility in their digital asset transactions.
Chainflip has strategically aligned with integration partners, including THORSwap, THORWalletDEX, ElDoradoMRKT, and HoudiniSwap. These platforms are poised to embrace and support the concept of limitless trades, providing users with a multitude of channels for conducting transactions. The collaboration aims to deliver smooth, rapid, and adaptable trading experiences tailored to the diverse preferences and needs of users worldwide.
The removal of swap size restrictions, coupled with the robust support of esteemed partners, marks a pivotal moment in the evolution of digital asset markets. Beyond increasing accessibility and simplicity in acquiring digital assets, Chainflip's initiative empowers users to choose their preferred trading platforms. The overarching goal is to foster an open, dynamic trading environment, reducing obstacles and enhancing opportunities for seamless asset exchange. Chainflip and its partners are not just simplifying transactions; they are reshaping the landscape of digital asset trading, fostering global access, utilization, and efficiency for buyers.
Chainflip has also introduced the $FLIP Buy and Burn system, a novel approach to tokenomics aimed at increasing the value of its native $FLIP tokens. Under this system, a 0.1% fee is deducted from every swap conducted through the protocol. Subsequently, these fees are utilized to purchase $FLIP tokens, which are then permanently removed from circulation. This strategic mechanism reduces the overall supply of $FLIP tokens, exerting downward pressure that may contribute to an increase in the token's value, especially as transaction volumes on the protocol continue to surge.
Chainflip has exciting plans for future enhancements to its system, promising improved exchange rates, a comprehensive dealer information display, and the addition of new assets and chains. Notably, USDT, Solana, and Arbitrum are identified as the next cryptocurrencies slated for inclusion. This expansion signals Chainflip's commitment to broadening its reach and utility within the DeFi ecosystem.
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Brenda has been a news writer since 2019 with a deep background in crypto. Brenda commits to producing excellent, well-optimized content to ensure consumer satisfaction.