Chainflip

Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.

DeFiLlama publishes the exact rules used to aggregate on-chain balances into the headline TVL figure shown on this page. The methodology below is the team's own source-of-truth description.

The number of FLIP tokens in the Chainflip State Chain Gateway Contract, as well as the total liquidity.

If a contract or vault isn't in this list, its balance does not contribute to the TVL displayed on Mantapex or DeFiLlama.

Chainflip's governance or utility token carries a market capitalisation of $23.8M based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token ($23.8M) above the protocol's on-chain TVL ($10.8M) — a mcap/TVL multiple of 2.20× implies investors are paying for expected future fee flows rather than current deposits alone. A further $9.5M sits in the protocol's native staking modules — these deposits are typically locked, vote-bonded, or earning a share of fees, and they reduce the freely circulating float that can hit the market.

Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.

Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.

1. Nov 28, 2023
   Listed on DeFiLlama

Chainflip is a DEX — a decentralised exchange where users swap assets against on-chain liquidity pools rather than a central order book. It is deployed across 2 chains, including Chainflip, Ethereum. The codebase has been independently audited (3 reports on file).

Chainflip operates on 2 networks (Chainflip, Ethereum), keeping its surface area narrower than chain-agnostic peers. Roughly 100% of its on-chain value sits on just three networks (Chainflip, Ethereum-staking, staking), so a fault on any one of them would affect a large slice of users. 3 public audit reports are linked from DeFiLlama, which is on the higher end of transparency for the DeFi sector — most protocols of comparable TVL publish far fewer. Its token market cap ($23.8M) currently exceeds total value locked ($10.8M) — a mcap/TVL ratio of 2.20 suggests the market is pricing in more growth than current deposits support.

Verified external resources for Chainflip — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.

Chainflip is one of 7 DEX protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Curve DEX, Uniswap V3, PancakeSwap AMM, and 3 more. These peer protocols collectively secure $8B in deposits, giving you a frame of reference for whether Chainflip's own TVL is at the top, middle, or tail of the category.

Curve DEX

TVL $1.9B · 24h +0.39%

Uniswap V3

TVL $1.8B · 24h -0.67%

PancakeSwap AMM

TVL $1.7B · 24h +0.14%

Raydium AMM

TVL $1.1B · 24h +0.66%

Uniswap V2

TVL $872.4M · 24h -0.17%

Uniswap V4

TVL $670.6M · 24h -0.47%