Chainflip Labs Launches Protocol for Unrestricted

According to BlockBeats, Chainflip Labs announced the full launch of its protocol on March 11, allowing users to exchange native BTC, ETH, and DOT on-chain at competitive rates without restrictions. In addition, Chainflip Labs introduced a FLIP token purchase and burn mechanism.

In this update, Chainflip Labs activated the FLIP purchase and burn mechanism. A 0.1% fee is deducted from each exchange made through the protocol, which is used to purchase and burn FLIP tokens. As the trading volume through the protocol increases, more FLIP tokens will be burned.

Chainflip Labs also revealed plans to introduce new features to further improve exchange rates, including a detailed agent information panel and integration of new assets and chains. Upcoming integrations include USDT, Solana, and Arbitrum.

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