Funding

In order to use your Chainflip account, you need to fund it.

Fund and redeem via Auctions application

The easiest way to fund your Chainflip account is via the Auctions application (opens in a new tab). This is primarily built for funding validator nodes, but can be used for any Chainflip account.

1. Make sure you have FLIP (ERC-20) in your EVM crypto wallet.
2. Go to Chainflip Auctions page (opens in a new tab) > "My Nodes (opens in a new tab)".
3. Connect your crypto wallet containing the FLIP.
4. Click the button "+ Add Node" > You should see the "Register new node" dialog.
5. Enter the Validator ID you got during Generating Keys step — your Public Key(SS58)— and the amount of FLIP you want to fund. Click on "Add Funds".
6. Your crypto wallet will ask you to sign two transactions. The first one is a token approval and the second one transfers and add funds to your account.
7. Congratulations! Your Chainflip account is now funded.

Fund and redeem via State Chain Gateway

As explained in the State Chain Overview, the StateChainGateway contract has two main entry points for those looking to interact with the protocol:

1. Funding a State Chain account with $FLIP tokens
2. Redeeming $FLIP tokens from a State Chain account

Funding a State Chain account

Users can fund a State Chain account by making a smart contract call and providing an amount of $FLIP to be locked in the contract. Tokens need to be approved first by the user to be transferred by the contract.

    function fundStateChainAccount(bytes32 nodeID, uint256 amount) external;