Chainflip Development Update — December 5th 2023

Chainflip Development Update — December 5th 2023

Dear readers of the Dev update,

The city is dark and covered in snow. Supermarkets are blasting Christmas songs and all of Berlin is looking forward to some quiet holidays. All of Berlin? Of course not… A not so tiny office full of Chainflippers is in overdrive mode to launch their product and rescue the crypto world from bad swapping solutions.


We launched our mainnet and our FLIP token! For now we are watching it closely and help the first users wherever we can. The validator count quickly reached 150 and with every new epoch the staked amount of FLIP token grows. Even though we have collected lots of data and feedback through our Perseverance testnet, a mainnet with real assets is a different beast and we have lots of little things to improve.

Together with the mainnet launch, we also made our source code repository publicly available. Now you can witness our daily development progress and learn all you want about the inner workings of the system.

Our audit is also well underway. I’m happy to report that so far, no significant issues were found!


Mainnet launch is only the beginning. We’re working hard to release the swapping functionality soon. Some of the remaining tasks are:

  • Improving the spam protection against attackers making thousands of tiny Bitcoin deposits
  • Work with Liquidity Providers to ensure our LP API is working smoothly for them
  • Make vault rotations faster and more stable, even if some validators misconfigure their nodes
  • Improve the documentation and user interface based on feedback from mainnet users

Before we can launch swapping, we will need to do one more release that requires updating the validator software. We’re scheduling this so that validators will have enough time to get everything correctly set up for the launch.

Vibe Check

On launch day, the Chainflippers outperformed themselves by rocking their nicest corporate track suits, company coloured tutus, and Night Moves even died his hair pink for the occasion. To keep the steam going despite the cold weather, our man Hamed continues the tradition of cooking for everyone and will serve homemade dishes from Iran. Simon is everywhere at once and keeps us all focused on the goals ahead. A good indicator of the office vibe is that most meetings no longer end with “Bye”, but instead with “LFG!”

Until next time,

Martin Rieke