What is Chainflip? How Chainflip swaps work
Decentralised cross-chain AMM for native assets.
How Chainflip swaps native BTC, ETH, SOL and more through a decentralised validator network, what it costs, how long it takes and when TorrentSwap offers it.
- Typical time
- Roughly 10–15 minutes with Bitcoin involved; 2–3 minutes between Ethereum, Arbitrum and Solana.
- How your deposit is held
- Held briefly in validator-run vaults (threshold signatures) while the swap settles.
How a Chainflip swap works
- 01TorrentSwap opens a Chainflip deposit channel bound to your destination and refund addresses.
- 02Validators watch the source chain, credit your deposit and swap it in Chainflip's on-chain AMM.
- 03The output is sent from validator-controlled vaults (threshold signatures) to your address. Swaps below your minimum are refunded.
Chainflip in one paragraph
Chainflip is a proof-of-stake network built by Berlin-based Chainflip Labs that swaps native assets between chains such as Bitcoin, Ethereum, Solana, Arbitrum and BNB Chain without wrapped tokens. Its mainnet launched in November 2023 and swapping opened in December 2023. Up to 150 validators, who stake the FLIP token, jointly control vaults on every supported chain, and a Just-In-Time (JIT) AMM, where market makers compete to fill each batch of swaps, sets the price.
Fees and Boost
Chainflip charges a 0.10% network fee (0.01% on internal stablecoin swaps, $0.50 minimum), which is used to buy and burn FLIP, plus a liquidity fee of 0.10 to 0.15% per pool. Gas on the source chain and the destination payout cost come on top, and a refund costs about $0.50.
Bitcoin deposits normally wait for three blocks, about 30 minutes. Boost lets liquidity providers front the BTC after one confirmation for an extra 0.05 to 0.3%, cutting the wait to a few minutes when Boost liquidity is available. The Boost fee is kept even if the swap is later refunded.
Custody and security model
While a swap runs, funds sit in Chainflip vaults that validators control together with threshold signatures: moving vault funds needs 100 of 150 signatures. A 3-of-6 governance key held by Chainflip Labs can freeze smart-contract vaults, and stronger actions also need a 5-of-9 community key; Safe Mode can halt payouts. Audits listed in Chainflip's repository include Kudelski Security, Trail of Bits and Zellic.
Incident history
On 12 September 2026 an attacker exploited how Chainflip read memos on Tron transactions: a transaction validators had already signed was treated as a failed swap and refunded, paying the same funds twice. About 736,442 USDT left the Tron vault before Chainflip paused the network. Other chains' funds were not affected, a fix (v2.2.13) shipped on 15 September, and swaps restarted on the other chains with Tron left off; Chainflip said it intends to compensate affected users. Earlier, after the February 2025 Bybit hack, Chainflip shipped an upgrade letting brokers reject deposits flagged as high-risk.
TorrentSwap only shows a Chainflip route when Chainflip returns a live quote for it, so a paused chain simply has no Chainflip route.
Tips for swapping through Chainflip
From Chainflip's documentation:
- Use the deposit address only for the swap it was opened for, and send promptly: deposit channels last 24 hours
- Never send funds straight to a Chainflip vault address without opening a swap
- Always give a refund address on the sending network; if the price moves past your minimum the deposit comes back there, minus about $0.50
- Very small swaps are inefficient: the network fee has a $0.50 floor and destination gas is deducted from the output
Where it shines
- Native assets on both sides — no wrapped BTC.
- Fast Bitcoin settlement compared with most intent-based routes.
- Streaming mode splits large trades to reduce price impact.
Trade-offs
- Covers fewer networks than NEAR Intents.
- Has a minimum trade size; very small swaps may only show other protocols.
Networks served through TorrentSwap
Availability changes with liquidity. The live quote is always the source of truth: if Chainflip can fill your swap, it appears in the route list with its exact output.
Chainflip: common questions
What is Chainflip?
A proof-of-stake network that swaps native assets between chains such as Bitcoin, Ethereum, Solana and Arbitrum without wrapped tokens. Up to 150 validators run vaults on each chain, and a Just-In-Time AMM sets prices.
How long does a Chainflip swap take?
From Ethereum, about 1.5 to 2 minutes. From Bitcoin, about 20 to 30 minutes because it waits for three blocks; Boost can bring that down to a few minutes for an extra 0.05 to 0.3%.
What are Chainflip's fees?
A 0.10% network fee (minimum $0.50) plus a 0.10 to 0.15% liquidity fee, network gas and an optional Boost fee. On TorrentSwap these are already included in the quoted amount, together with every other fee.
Is Chainflip safe?
Vault funds need 100 of 150 validator signatures to move, and the code has been audited by several firms. In September 2026 a Tron memo bug cost about 736,442 USDT; Chainflip paused, patched and restarted other chains with Tron off.
What is a Chainflip deposit channel?
A one-time deposit address tied to your destination asset, destination address and refund address. You send the source coins there, and validators witness and swap them.
Sources
Last reviewed 2026-10-22. TorrentSwap is not affiliated with Chainflip.