# Chainflip Chain Staking market cap Methodology

## 1. Overview

Staking market cap measures the total value of native FLIP assets currently bonded by validators to secure Chainflip Chain. This metric reflects the aggregate capital committed to the network's consensus and security mechanisms. The total bonded amount is tracked to evaluate the economic security and validator commitment of Chainflip Chain over time.

## 2. Data sources

- **Blockchain events**: `BondUpdated` events from the `flip` pallet, covering Chainflip Chain
- **External data**: End-of-day price feeds for the native FLIP asset

## 3. Step-by-step calculation

### Component A: Validator bond tracking

- **Purpose**: Extract and track the bonded amounts for individual validators
- **Logic**: `BondUpdated` events are parsed from the `flip` pallet. For each event, the validator account and the raw bond amount are extracted. The raw bond amounts are normalized by decimal precision. To establish a continuous daily record for each validator, the latest bond amount recorded on any given day is selected, and missing daily values are filled forward from the last known state.
- **Key fields**: `account` (validator identifier), `amount` (bonded asset quantity)

### Component B: Daily aggregate bonding

- **Purpose**: Calculate the total bonded FLIP across all validators on a daily basis
- **Logic**: The filled daily bond amounts are summed across all active validators for each day. This yields the total daily bonded FLIP on Chainflip Chain.
- **Key fields**: `bonded_flip` (total daily bonded assets)

### Component C: USD conversion and finalization

- **Purpose**: Convert the aggregated bonded assets to USD and finalize the metric
- **Logic**: The daily total bonded FLIP is multiplied by the end-of-day price of the native FLIP asset to calculate the staking market cap in USD. A final fill-forward strategy is applied to ensure continuous daily coverage, and a chain availability filter is applied to align the data with approved reporting periods.
- **Key fields**: `staking_market_cap` (final USD value)

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of native tokens currently staked to secure a proof-of-stake network.

Staking market cap

Blockchains (L1)

Chainflip operates a decentralized network of 150 validators that collectively control multi-chain vaults using threshold signature schemes (TSS). The protocol uses a Just-In-Time (JIT) AMM where liquidity providers compete to fill swap orders at the moment of execution, enabling capital-efficient cross-chain swaps. A portion of each swap fee is used to buy and burn FLIP tokens.

Chainflip is a decentralized cross-chain swap protocol that enables native asset exchanges across blockchains including Bitcoin, Ethereum, and Solana without wrapped tokens or traditional bridges. It was launched in 2023 by Chainflip Labs and uses a JIT AMM model combined with MPC-based vault technology to provide competitive pricing on cross-chain trades.

Chainflip is governed by its validator set and FLIP tokenholders. Validators stake FLIP to participate in the network and earn fees from swaps. The protocol is developed and maintained by Chainflip Labs.

Chainflip Chain

Staking market cap

Staking market cap

Chain breakdown