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.

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Chainflip

# Chainflip Number of validators Methodology

## 1. Overview

Number of validators is defined as the number of active nodes that produce blocks and secure the network. The degree of decentralization and resilience of the blockchain is reflected by this metric. For Chainflip, the active validator set on the Chainflip Chain is tracked. The active validator set is updated periodically through on-chain auctions, and insight into the security and consensus participation of the network is provided by tracking this count.

## 2. Data sources

- **Blockchain events**: `AuctionCompleted` events from the `validator` pallet, covering the Chainflip Chain

## 3. Step-by-step calculation

### Component A: Validator count extraction

- **Purpose**: To extract the size of the active validator set when an auction completes.
- **Logic**: `AuctionCompleted` events are parsed from the `validator` pallet. The active validator list is extracted from the event data payload, and the total number of active validators is determined by calculating the length of the validator array.
- **Key fields**: `event_data` (containing the validator array), `block_timestamp` (timing)

### Component B: Daily aggregation and deduplication

- **Purpose**: To determine the final validator count for each day.
- **Logic**: The validator count is aggregated to a daily grain. For days with multiple auction events, the last recorded validator count of the day is selected to represent the active validator set.
- **Key fields**: `block_timestamp`, `validator_count`

### Component C: Forward-filling and normalization

- **Purpose**: To ensure continuous daily data coverage.
- **Logic**: The daily validator counts are normalized and validated against active chain registries. For days where no new auction events occur, the last known validator count is carried forward to maintain a continuous daily time series.
- **Key fields**: `timestamp`, `number_of_validators`

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

Number of active validators securing the network.

ChainflipFLIP

Number of validators

Number of validators

Competitive landscape

Chain breakdown