Chainflip is a cross-chain asset-exchange protocol. At its core are two major innovations:

1. Fully distributed and permissionless 100-of-150 multi-signature vaults using the FROST signing protocol.

2. A novel and highly capital-efficient just-in-time (JIT) AMM.

This allows transfer and exchange of assets across chains without the need for wrapped tokens or trusted intermediaries.

Zellic conducted a security assessment for Chainflip Labs from November 6th to December 8th, 2023. During this engagement, Zellic reviewed Chainflip Backend's code for security vulnerabilities, design issues, and general weaknesses in security posture.