Chainflip FLIP

Chainflip is a decentralised protocol designed to let users swap cryptocurrency assets across different blockchains without wrapped tokens or traditional bridging, and without giving up custody of their assets during the process. Swaps are priced through what the protocol calls a "Just-in-Time" Automated Market Maker (JIT AMM). The protocol is described as generalised, meaning it can in principle be integrated with any chain and any transaction type.

The network is secured by a set of 150 validators who stake FLIP, the protocol's native token, in order to participate. Validators are rewarded in FLIP and receive value indirectly through protocol fees. Every swap conducted on the platform also triggers an automatic buy-and-burn of FLIP through the liquidity pool system, a mechanism intended to apply deflationary pressure on supply as trading volume rises.

FLIP is a utility and staking token, not a claim on protocol revenue or governance rights beyond what's described here — the source frames its value accrual as indirect, via fees paid to validators and the burn mechanism, not direct distributions to holders. Its deflationary effect is tied to swap volume, meaning it scales with usage rather than operating independently of it. Despite Chainflip's stated purpose of enabling cross-chain swaps across "any" blockchain, the token itself is deployed on a single chain, Ethereum. CoinGecko classifies it partly as a bridge governance token and lists venture-fund associations, but the source material provided here does not describe formal governance powers attached to FLIP, nor does it name a founding team or a launch date.