Account Roles

Chainflip uses the concept of Account Roles to manage permissions between various network actors. Every account on the Chainflip network can go through the lifecycle.

Upon Funding your account, your account will be created without any defined role. This account state is known as Unregistered. Unregistered accounts have access to basic functionality on the State Chain, such as redeeming funds and participating in tokenholder governance.

In order to truly participate in the network, you will need to register the account for one of three roles:

• Validator
• Broker
• Liquidity Provider

[FROM v1.4]: When an account has fulfilled its purpose and the owner wishes to redeem all remaining FLIP tokens, its Role needs to be deregistered to ensure the account has cleaned up its state, for example withdrawing any assets held on-chain.

Validator

Validators are responsible for maintaining the network. This means processing transactions, witnessing incoming events, signing outgoing transactions and ensuring upgrades are applied in a timely manner. Running a Validator node requires experience with managing and securing server infrastructure.

If you want to run a Validator node, you will first need to register your account for the Validator role, to gain access to the chain's Validator API and start bidding for a slot in the auction.

chainflip-cli Validator register

Once registered, the account will have full access to Validator-related actions and can run a chainflip-engine.

[FROM v1.4]: In order to be able to redeem all remaining FLIP, Validator accounts must deregister. As a pre-requisite for deregistering, Validators must ensure that they are no longer key holders in an active epoch, and that they are not bidding in the auction. Once this is done, then chainflip-engine can be switched off and the account deregistered via the cli:

chainflip-cli Validator deregister

Broker

Brokers forward users' swap requests to the network, paying transaction fees on their behalf and potentially taking a commission for each swap. Successful brokers need to provide and market a swapping interface and ensure they are resistant to spam attacks. See our section on brokers for further information.

Brokers need to register their account for the Broker role to gain access to swap-related functionality.

chainflip-cli broker register

Once registered, the account will have full access to broker-related actions through the Broker API.

[FROM v1.4]: In order to be able to redeem all remaining FLIP, Broker accounts must deregister. As a pre-requisite for deregistering, Brokers must ensure they have withdrawn all of their earned commission fees. Once this is done, the Broker API can be switched off and the account deregistered via the CLI:

chainflip-cli broker deregister

Liquidity Provider

Also known as LPs, the Liquidity Provider role is usually fulfilled by professional market makers, but Chainflip also supports passive liquidity provision strategies. A good liquidity provider will have expertise in risk management and market making, and knowledge of how our AMM works.

If you want to market-make on Chanflip, register as an LP:

chainflip-cli lp register

Once registered, the account will have full access to LP-related actions through the LP API.

[FROM v1.4]: In order to be able to redeem all remaining FLIP, LP accounts must deregister. A pre-requisite for deregistering, LPs must not have any open orders and must withdraw all funds from their free balance. Once this is done, the LP API can be switched off and the account deregistered via the CLI:

chainflip-cli lp deregister