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 Transactions per second Methodology

## 1. Overview

Transactions per second is defined as the average number of confirmed user transactions added to the blockchain each second. Both network throughput and real-time usage on Chainflip Chain are reflected by this metric. Raw transaction data is ingested and aggregated to provide a standardized measure of operational activity. By dividing the daily transaction volume by the total number of seconds in a day, a normalized throughput rate is established.

## 2. Data sources

- **Blockchain events**: Extrinsics from `extrinsics` records, covering Chainflip Chain

## 3. Step-by-step calculation

### Component A: Chainflip Chain transaction extraction

- **Purpose**: The extraction and cleaning of raw transaction data from Chainflip Chain.
- **Logic**: Extrinsics are parsed from the raw chain data. The block timestamp and unique extrinsic identifier are extracted and cast to their respective data types. Each record is assigned to Chainflip Chain.
- **Key fields**: `block_timestamp`, `extrinsic_id`

### Component B: Chainflip Chain daily transaction aggregation

- **Purpose**: The aggregation of the total number of unique transactions on a daily basis.
- **Logic**: Unique extrinsic identifiers are counted and grouped by day using the block timestamp. This daily transaction count is mapped to the canonical product identifier for Chainflip Chain.
- **Key fields**: `timestamp`, `transaction_count`

### Component C: Chainflip Chain transactions per second calculation

- **Purpose**: The calculation of the average throughput rate per second.
- **Logic**: The daily sum of transactions is divided by the total number of seconds in a day to compute the average transactions per second. A zero-fill strategy is applied to ensure data continuity for days without activity.
- **Key fields**: `timestamp`, `transactions_per_second`

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

Average confirmed user transactions added per second.

ChainflipFLIP

Transactions per second

Transactions per second

Competitive landscape

Chain breakdown