Chainflip is a cross-chain DEX that uses a threshold signature scheme, separate application-specific blockchains, and a dedicated AMM using instant liquidity to facilitate local cross-chain exchanges. Chainflip allows users to access native assets that are currently walled off from DeFi and not well served by existing DEX, such as ETH, DOT, and BTC. The Chainflip protocol maximizes capital efficiency, making trading slip points extremely low and prices on par with centralized exchanges.