Chainflip FAQ

You’ve got questions, we’ve got (some) answers. Here’s the most frequently asked questions about this wonderful project answered.

  1. What on god’s green earth is Chainflip?

2. Where can I get more information about Chainflip?

3. Where should I start with Chainflip?

4. What problem are you actually solving?

5. How does it work?

6. What blockchain is the protocol built on?

7. What are the advantages of Chainflip compared with other DEXs?

8. Who are your competitors?

9. How are you different to THORchain?

10. Will there be a token?

11. Has your token launched? If not, when?

12. When can I buy?

13. What is the total number of tokens?

14. Will FLIP be an ERC-20 token?

15. What is the utility of the token?

16. Do I need FLIP tokens to use Chainflip?

17. How is value captured through the system?

18. How can I become a validator?

19. Who are the liquidity providers?

20. How can I become a liquidity provider?

21. Do I need both of the token pairs to provide liquidity?

22. Will there be a liquidity mining program?

23. What blockchains will Chainflip support?

24. Will the Chainflip team require a protocol audit before launch?

25. When are you launching?

26. How long will the user wait to receive their new coins? How fast is the Chainflip network?

27. Will chainflip need to validate the identity of the user?

28. What fees will the user be expected to pay?

29. What is the network fee on chainflip?

30. How will FLIP tokens be distributed in the future?

31. Will users be able to stake FLIP tokens if being a validator is not an option?

31. How are asset prices determined on Chainflip?

32. I heard something about an Airdrop?

We hope you’ve enjoyed this FAQ. If you have further questions, feel free to jump straight into the Community Discord or Telegram and ask away. We’ll keep this FAQ updated as best we can, so submit your suggestions and questions!



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