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.

website

twitter

docs

Blockchains (L1)

Chainflip

# Chainflip Transaction count Methodology

## 1. Overview

Transaction count is defined as the number of confirmed transactions (extrinsics) added to the blockchain. The overall level of activity and user engagement on the Chainflip Chain is reflected by this metric. By analyzing the volume of successful state transitions, the operational demand and utilization of the network can be evaluated over time.

## 2. Data sources

- **Blockchain events**: Extrinsics (transactions) recorded on the Chainflip Chain, covering Chainflip Chain

## 3. Step-by-step calculation

### Component A: Extrinsic extraction

- **Purpose**: Extract transaction records from the Chainflip Chain
- **Logic**: Extrinsics are extracted from the block data of the Chainflip Chain. For each record, the timestamp and unique extrinsic identifier are captured and cast to their respective data types.
- **Key fields**: `block_timestamp` (timing), `extrinsic_id` (transaction identifier)

### Component B: Transaction aggregation

- **Purpose**: Aggregate transaction volume on a daily basis
- **Logic**: Extrinsics are grouped by day using the truncated block timestamp. The total transaction count is calculated by counting the distinct number of unique extrinsic identifiers for each day.
- **Key fields**: `block_timestamp` (timing), `extrinsic_id` (transaction identifier)

### Component C: Normalization and zero-filling

- **Purpose**: Ensure data completeness and correct formatting
- **Logic**: The aggregated transaction counts are validated against approved chain and data identifiers. Missing days in the time series are filled with zero values to maintain a continuous daily record, and the final dataset is filtered based on chain availability rules.
- **Key fields**: `timestamp` (timing), `transaction_count` (aggregated volume)

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

Confirmed transactions added to the blockchain.

ChainflipFLIP

Transaction count

Transaction count

Competitive landscape

Chain breakdown