CoinList Announces Support of Chainflip (FLIP) Community Sale

UTC by Steve Muchoki · 3 min read
CoinList Announces Support of Chainflip (FLIP) Community Sale
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The Chainflip (FLIP) sale on CoinList will involve 4.5 million tokens set at a price of $1.83.

Chainflip protocol, a decentralized network that allows users to seamlessly transfer value between different blockchains, announced a public sale of its FLIP governance tokens through CoinList Launchpad. According to the announcement, the FLIP token sale on CoinList is scheduled to begin on August 31, 2023, at 17:00 UTC. However, registration for the FLIP token sale is expected to close by August 28, with only registered CoinList users able to participate. Notably, 4.5 million FLIP tokens will be made available during the public sale at a starting price of $1.83.

During the FLIP public sale, each user will be entitled to a buy limit of between $100 – $4,000. After the public sale, the FLIP buyers will then enter a 100 percent lockup period until the mainnet launch, which is expected to happen on October 24.

Meanwhile, CoinList users intending to participate in the ChainFlip community sale have been advised to fund their wallets before the scheduled date. CoinList has so far completed 78 crypto project offerings from 8 million users and over $1 billion secured. Thereby making CoinList the best platform for ChainFlip to perform its community sale securely.

ChainFlip (FLIP) and Its Market Outlook

ChainFlip uses a revolutionary way to enable seamless crypto swaps dubbed Just-in-Time (JIT) Automated Market Maker (AMM). Through the JIT and AMM technology, ChainFlip users can swap assets between chains without having to wrap tokens. Notably, the JIT and AMM tools access liquidity from its connected chains and partner aggregators to empower users with accurate, competitive prices and low fees on spot crypto trades.

The ChainFlip team has set a clear mission of displacing centralized exchanges by providing seamless services in cross-chain solutions. In a bid to ensure a secure scalable future of cross-chain capabilities, ChainFlip has deployed 150 validators per vault.

Additionally, Chainflip uses the Schnorr signatures and an innovative signing scheme to allow the 150 validators to support numerous multi-chain assets and multiple parallel signing ceremonies without incurring excessive hardware costs.

Notably, ChainFlip is backed by several key venture capital firms including Pantera, Coinbase Ventures, AU21 Capital, and Parafi Capital, among many others. The ChainFlip ecosystem is powered by FLIP tokens with a maximum supply of 90 million. The upcoming ERC-20 token was designed to be used as collateral for Validator auctions.

Additionally, the FLIP tokens are required for liquidity Provision and relaying services in order to process instructions on the decentralized exchange. After a successful token sale and mainnet launch, Chainflip has set to introduce swapping and liquidity provider functionality on the mainnet with additional features. To begin with, Chainflip intends to support several assets including Ether, Bitcoin, and DOT with extra additions in the pipeline.

Blockchain News, Cryptocurrency News, News
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