Buyback Radar

Chainflip FLIP

Sell signal activeRank#5▲1Score59

Sell signal since Nov 10. REV7 fell to 0.5× of the previous week; REV ratio 0.5×, HR ratio 0.5×. Still open: weekly revenue drop still holds. See Signals.

Dexs, Chainflip, 192 days of data

Active signals 3

  • Sell signalsince Nov 10

    Revenue this week $110k, about half the week before.

    Weekly revenue drop: revenue this week $110k, 0.5× the week before, paid to holders 0.5× the week before. Still open: weekly revenue drop still holds.

  • New in top 20held since Oct 30

    Ranked #5 on Nov 11, up from #6 the day before.

  • Multiple below mediansince Oct 30

    Multiple 5.4×, below the 19.5× median of Dexs (13 tokens).

Market cap

$34.4M

price $0.396 · 7d +21.3% · 30d +37.2%

FDV $34.3M (1.0× market cap)

source defillama

Buyback revenue / year

$6.3M

holders revenue of the last 30 days, $520k, × 365 ÷ 30

Buyback + burnbuyback share 100%

Buys back 18% of its market cap a year, using 100¢ of every $1 it earns.

Multiple

5.4×

peer median 19.5× (Dexs, 13 tokens), against 5.4× here

Run-rate

6.0×

last 7 days $110k × 52 = $5.7M a year

last week's payout in line with the 30-day pace

What we checked

  1. Valuation

    Multiple 5.4×, 3.6× cheaper than its Dexs peers (median 19.5×, 13 tokens). The group's largest earner Uniswap trades at 37.3×: 6.9× cheaper per dollar returned to holders. On total revenue: 5.4×, 3.1× cheaper than the revenue peer median.

  2. Distribution

    Buyback + burn: Revenue buys the token on the market and the bought tokens are burned. Holders got $520k of $520k revenue in 30 days → buyback share 100%. DefiLlama: “Token Buy Back: Network Fees are used for Buy/Burn $FLIP.”

  3. Sustainability

    Holders were paid on 30 of 30 days (100%); largest single day 8% of the month's holders revenue; paid to holders this week: 50% of the best week in 90 days. Revenue −49% over 7 days and +59% over 30 days, price +37% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

  • Sell signalactive since Nov 10; REV7 fell to 0.5× of the previous week; REV ratio 0.5×, HR ratio 0.5×. Still open: weekly revenue drop still holds. See Signals

How the buyback really works

Researched Nov 1, 2026 · 1 wallet: 1 medium confidence

  1. The moneyPaid from ongoing revenue
  2. The buyerA contract buys back automatically
  3. The tokensBought tokens are burned

The project says 100% of its revenue goes to buybacks, in line with DefiLlama (100% of its revenue).

On-chain: $562k bought back over 30 days = 108% of what DefiLlama reports for the same days.

Method: Chainflip explorer GraphQL (allBurns): FLIP burned on the State Chain from network fees, gross before emissions. Checked November 12, 2026.

Red flags 6

  • FLIP 2.1 is coming: emissions to zero, the burn stops and purchased FLIP goes to stakers. There is no activation date. On-chain the daily net burns are still continuing on 2026-10-31, so 2.1 is not yet active. After activation the destination becomes 'stakers' and measurement must move to staking distribution events.
  • Ethereum only shows net supply (burns minus emissions). Counting only Ethereum underestimates the gross burn.
  • In Safe Mode CODE RED the supply sync and the burn are halted.
  • The percentage applies only to the network fee (0.1% of swap volume plus parts of boost and lending fees). LP fees and broker, ingress and egress fees do not go to the burn.
  • DefiLlama takes holders revenue from Chainflip's own API (explorer-service-processor), not from its own on-chain measurement.
  • If the FLIP amount is too small, the burn is skipped and carried forward.
Buyback wallets 1
Sources 8

Open the buyback wallets in their explorer and look for regular purchases of the token.

Check it yourself (technical)

Gross (best): the State Chain events Emissions.NetworkFeeBurned { amount, egress_id } (and FlipBurnSkipped), roughly every 24 hours. Available via Chainflip Scan (scan.chainflip.io), a State Chain RPC (Substrate system.events) or the explorer-service endpoint DefiLlama uses (explorer-service-processor.chainflip.io/defi-llama/fees, header x-client-id). Net on Ethereum: FlipSupplyUpdated on 0x6995... (topic0 0xff4b7a826623672c6944dc44d809008e2e1105180d110fd63986e841f15eb2ad) via Etherscan v2 getLogs or Blockscout /api/v2/addresses/0x6995.../logs; newSupply - oldSupply is the net change after emissions. Checked: the last 7 updates (up to block 26315460, 2026-10-31) were all negative, from -19,648 to -140,060 FLIP per day (latest -116,608), and supply stands at 87,252,058 FLIP. FLIP token 0x826180541412D574cf1336d22c0C0a287822678A: Transfer gateway -> 0x0. DefiLlama counts dailyProtocolRevenue from the Chainflip API entirely as holders revenue (~$365k/30d).

Holders revenue / revenue (30d)
$520k / $520k
last 30 closed days
To holders
Buys back 18% of its market cap a year
FDV / dilution
$34.3M / 1.0×
FDV ÷ market cap
Price 7d / 30d
+21.3% / +37.2%
Revenue growth 7d / 30d
−49% / +59%
versus the period before
Divergence
0.15
revenue growth minus price growth, 30d
DEX liquidity
$382k
DexScreener, representative pools
24h volume
$60k
all markets, CoinGecko
Unlocks 30d
—
DefiLlama's schedule does not cover the next 30 days while tokens are still locked
Revenue multiple
5.4×
market cap ÷ revenue per year
Fee multiple
1.0×
market cap ÷ fees per year
Distance to peak
50%
this week ÷ best week of 90 days
Data since
May 4
first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 5.4× (scored) · peer median 19.5×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
DateSignalPrice thenAfter 7dAfter 30dSinceOutcome
November 11, 2026Sell signalactive$0.378——+5%30-day check: day 1
November 2, 2026Revenue jumpclosed Nov 8: the condition no longer holds$0.306+27%—+29%30-day check: day 10
October 30, 2026New in top 20active$0.31+14%—+28%not counted
October 31, 2026Multiple below medianactive$0.31+14%—+28%30-day check: day 11
October 31, 2026Day jumpvoided Oct 31: revenue on the day was below the $50,000 minimum for this signal$0.31+14%—+28%not counted

Versus peers

Dexs · 13 tokens · median multiple 19.5× · Uniswap is valued 107.9× higher. Per dollar that counts for holders, Chainflip is 6.9× cheaper.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
TokenDistributionMultipleRevenue multipleBuyback shareTo holders 30dMarket capRev. growth 30d
Pharaoh Exchangeve / bribes0.3×0.2×100%$1.3M$2.6M−52%
RamsesXMixed0.7×0.5×97%$368k$2.2M+8%
nestDistribution0.8×0.4×100%$869k$4.4M+32%
upve / bribes2.0×1.0×100%$313k$3.9M−68%
Chainflipthis tokenBuyback + burn5.4×5.4×100%$520k$34.4M+59%
Aerove / bribes8.7×4.0×96%$7.4M$372.0M−6%
PancakeSwapBuyback + burn19.5×12.8×65%$2.4M$563.6M−29%
RaydiumBuyback27.1×16.8×62%$1.3M$425.4M−65%
Curve Financeve / bribes29.3×11.1×94%$2.6M$374.4M+44%
UniswapleaderBuyback + burn37.3×37.3×100%$8.2M$3.71B−20%
OrcaBuyback47.8×7.9×16%$130k$75.6M−36%
AsterBuyback + burn50.2×∞—$2.8M$1.69B—
MeteoraDistribution180×5.2×18%$458k$161.9M−60%
Score build-up59 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

59of 100#5▲1top 8%
Valuation 32.0Momentum 9.3Divergence 1.9Quality 15.9= 59.2
Valuation35%
92Valuation 91.5: HR half 83.1 (multiple 5.43×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 100.0 (revenue peer value 3.11×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.
Momentum25%
37Momentum 37.3: m = 0.5·g7 −0.677 + 0.3·(ln(day jump 1.26) clamped ±1.5 = 0.227) + 0.2·g30 0.462 = −0.178; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.
Divergence20%
10Divergence 9.7: d = g30 − p30 = 0.145; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.
Quality20%
80Quality 79.7: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 8% of HR30 → 100.0 (0 at ≥60%, 100 at ≤15%), distance to peak 0.50 → 39.0 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

Penaltiesnone

No penalty applies — 10 rules checked, 3 wait for research data

Where the numbers come from
Revenue source
1 active child
DefiLlama adapter per child
Price and market cap
defillama / defillama
latest fetch
Scored on
November 11, 2026
as-of date of the last compute run
On-chain verified
yes
checked Nov 12
Protocols behind this token1 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

  • Chainflip AMM
    Dexs · Chainflip
    type buyback-burn · source label
    “Token Buy Back: Network Fees are used for Buy/Burn $FLIP.”

    Fees collected from burning $FLIP.

    Token Buy Back
    Network Fees are used for Buy/Burn $FLIP.
    adapter on GitHub ↗