Integrate Chainflip into Shapeshift
under review
C
Chainflipgod
Hey Shapeshift team,
I would like to request that you integrate Chainflip into Shapeshift. Given your focus on non-custodial swaps and native assets, I think integrating the liquidity from Chainflip's protocol is a perfect compliment to the outstanding work you already do with Thorchain.
By integrating Chainflip, you will be offering users additional routing and timing options on trades, that may help to improve the user experience. While Chainflip currently supports native BTC and ETH (along with ERC20 USDC/USDT), which you have in place currently, integrating will now add native DOT and soon Arbitrum and then Solana.
Chainflip allows for interfaces such as Shapeshift to charge a "broker fee" on all trades originated from the interface, providing you with an additional revenue source. For example, in Thorswap's first month after integrating Chainflip, they routed $24M of volume and collected $43,000 in revenue for their efforts!
I firmly believe that integrating Chainflip is a Win-Win-Win for Shapeshift, for users and for Chainflip. Let's continue to push forward the space by expanding the reach of non-custodial swaps and native assets for users everywhere!
If you have any questions on how/why this makes sense, please let me know and I can provide further context and reasoning.
With love,
Chainflipgod
Mark Niemi
It has been about 4 months since last comment on this integration suggestion and still under review and not in the roadmap.
Chainflip have two big releases coming in the coming couple months, with first releasing Boost, that will speed up BTC swaps from 30 minutes to about 2 minutes. This would be a huge marketing possibility for Shapeshift reaching new customers.
The other release has native Solana integration and also DCA, which is same type of functionalty as THORChain's streaming swaps.
Hope to see the integration happening soon, in advantage of Shapeshift and Chainflip!
TheMoondalorian SkeletonPunks
Do it!❤️🔥
K
Kevin Rodriguez
I agree, it's a really good project
Kee Jefferys
Echoing all the above points.
Another significant advantage of Chainflip integration is its wallet-agnostic nature; it doesn't require wallets to specially encode swap data into transactions. Practically, this means if integrated Shapeshift could extend its interface to support ANY wallet for the assets Chainflip supports. This feature bears similarity to the functionality of memoless swaps proposed by Thorchain, albeit this is already implemented and live on Chainflip.
This enhancement would enable Shapeshift to more closely align with its original user experience & design, wherein a wallet address is generated, allowing users to send coins to that address from ANY wallet, exchange, or location. The transaction is verified via Chainflip, and then funds are directed to the specified outgoing address, providing an even more seamless user experience than is currently available.
I think this would be huge for Shapeshift
Henrik Andersson
Sounds like an excellent proposal that will benefit Shapeshift users as Chainflip will provide another option for swaps, thereby making Shapeshift even more competitive.
Kelly Ye
Great suggestion! Let's unify liquidity across chains.
Simon Harman
Thanks for submitting this for the Chainflip Community CFGod!
Just want to say we'd be thrilled to work with ShapeShift, and I'll happily offer Chainflip Labs' support in this integration.
Pre-2018 ShapeShift was a big inspiration for me personally, and our front-end deposit channel system is directly trying to replicate the original "fire and forget" user experience that I fell in love with back in ~2015
0xFBL
under review
In general these comments are much more articulate and clear will just say thanks for that. We've been in talks with the team too.
C
Chainflipgod
0xFBL great to hear. If you have any specific questions, I can try to address them as best as I can.
R
Rodney McFadden
Chainflipgod
0xFBL
Oh shoot, just deleted pi's comment by accident! Trying to clear my text window.
Anyone is free to subvert the product request board and put up governance proposals yes. But it doesn't speed up integrations or unblock us at a technical level.
C.J
Great points here, echoed. Feel this would be an easy value add for users.
Not to mention, if shapeshift brokered these swaps themselves they'd have an easy path to revenue out of the gate while giving that same value add.
As David highlighted, Chainflip community is active with builders and supportive members. It's another, second layer, that is well worth considering too. Big fan of both of these projects, and I might be getting ahead of myself when I say I feel like it's not 'if', but 'when' an integration is good for both parties.
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