Chainflip Launch: A New Project on KuCoin Broadens its Asset Cluster

Crypto trading firm KuCoin announced the launch of a new project by listing Chainflip (FLIP) on its Spot trading platform. KuCoin shared an official message on X (formerly Twitter), declaring the launch of FLIP with the platform supporting the token activities, including deposits and withdrawals via the ERC-20 network.

According to the notification, investors can start depositing their FLIP tokens on the KuCoin trading platform from the announcement date. Meanwhile, FLIP trading began at 12:00 on November 23, 2023 (UTC), and withdrawals are slated to begin on November 24, 2023, at 10:00 (UTC).

Chainflip is a cross-chain decentralized exchange (DEX) that facilitates direct swaps of native assets without wrapped tokens or specialized wallets. The ecosystem is equipped with a “custom-built” Automated Market Maker (AMM) that uses Just In Time liquidity, enabling access to assets including Ether, Polkadot, and Bitcoin, the cryptocurrencies that are traditionally isolated from the decentralized finance (DeFi) space. The primary utility token of Chainflip is the ERC-20 token, FLIP.

KuCoin’s enthusiasm for expanding its asset list is demonstrated by the series of recent listings that the platform has exhibited. Most recently, on November 20, KuCoin incorporated the hybrid decentralized exchange (DEX), Vertex, on their Spot trading platform.

In related news, Kucoin also introduced KuCard, the cryptocurrency debit card, which allows crypto traders to use their crypto holdings more easily. As per the official announcement, “The launch of KuCard represents a significant milestone for both KuCoin and the cryptocurrency industry as a whole, as the daily payment method, the crypto debit card plays a crucial role in accelerating the crypto mass adoption.”