Chainflip

Chainflip is a decentralised protocol that supports the direct cross-chain exchange of cryptocurrencies without a trusted intermediary.

With Chainflip, you get the same permissionless experience as Uniswap, but without the limitation of being stuck on the Ethereum blockchain. You can swap ETH directly for BTC, or XTZ for DOT. There is no need to put your trust into wrapped tokens or suffer from the host of user experience issues with current offerings.

Chainflip maintains its own Substrate-based proof of stake blockchain, called the State Chain. The multichain nature of Chainflip means that it can support any generic decentralised transaction network, provided it meets minimum security guarantees. All balances, swaps, and events are tracked on the Chainflip State Chain, meaning users will only pay transaction fees for the blockchains they interact with. For example, a user sending BTC and receiving DOT will only pay one transaction fee in BTC on the way in, and one transaction fee in DOT on the way out. You don’t have to pay ETH gas fees if you’re not sending or receiving any ETH-based assets.