FLIP to ONDO: Swap Chainflip for Ondo on Ethereum, No KYC

FLIP is the token of Chainflip, a network of validators that runs native swaps between separate blockchains. Validators have to bond FLIP to join, and the token also plays a part in the protocol's fees. ONDO is the governance token of the Ondo DAO, linked to Ondo Finance, which issues tokenized Treasury funds and tokenized stocks.

On this pair both tokens are ERC-20s on Ethereum mainnet. That makes the swap simpler than most: the wallet holding your FLIP, whether MetaMask, Rabby or a Ledger, can also receive the ONDO at the same address. You do not need a second wallet or a second chain.

Why go from FLIP to ONDO? Usually it is a rebalance from one protocol token to another, by someone who wants exposure to the tokenized-asset side of the market instead of cross-chain infrastructure. GhostSwap does the swap as a plain transfer in and a transfer out, so there is no token approval to sign and no account to open.

Chainflip has two homes for FLIP. One is your Ethereum wallet, where FLIP is an ordinary ERC-20 balance. The other is the Chainflip State Chain, where FLIP is funded to an account, for example to bond a validator or back one.

This pair accepts only the first kind. FLIP on the State Chain must be redeemed back to an Ethereum address before you can use it here, and that redemption takes time on Chainflip's side. Start it early if your FLIP is bonded.

Once the FLIP is in your wallet, check the network in MetaMask or Rabby reads Ethereum or Ethereum Mainnet before you send. The deposit is an ordinary token transfer to the one-time address shown for your swap, and it costs gas in ETH, not FLIP. A wallet with FLIP and no ETH cannot send at all, so top up a little ETH first if needed.

GhostSwap lists the Ondo governance token as Ondo (ONDO). It also lists tokenized stocks and funds issued through Ondo, such as the Tesla and SPDR S&P 500 tokens marked with "(Ondo)" after their names. Those are separate assets with their own prices.

For this page, choose the coin named simply Ondo with the ticker ONDO. If the "You get" field shows a stock or fund name, you have picked the wrong asset, so change it before you enter any amount.

After the payout, some wallets do not show ONDO until you add it. Search your 0x address on Etherscan: the token transfer appears there, along with the official ONDO contract link, which you can use to add it as a custom token in MetaMask or Rabby. The balance is already at your address; adding the token only makes it visible.

Because both columns share one chain, the same wallet can be the sender, the receiver and the refund address. That removes the most common cross-chain error, but not every error. Sending FLIP directly to an ONDO address, without going through the deposit address, only moves FLIP; it does not convert anything. And the ETH you keep for gas has to cover two moments: the FLIP deposit now and any later transfer of the ONDO.

The exchange box shows the ONDO you get after fees for the FLIP you enter, sourced from aggregated liquidity from leading crypto markets. The rate floats with the market until the FLIP deposit confirms. The FLIP minimum and maximum for this pair sit in the same box.

Ethereum confirms the FLIP transfer in about 2 to 5 minutes. After that, most swaps finish within minutes, and the ONDO arrives as a second Ethereum transfer that takes another 2 to 5 minutes to confirm.

Nothing else is asked of you. No email, ID or account comes into it, since GhostSwap is a no-KYC crypto exchange. Gas varies with how busy Ethereum is; the guide to lower gas fees has tips on timing a send.

Give your own Ethereum address as the sender address. On this pair it can simply be the same address that receives the ONDO. If a swap cannot be completed, the coins are refunded to the sender address you entered.

Avoid sending FLIP straight from a trading-account withdrawal. Those come from a shared hot wallet, and a refund to it may never be credited to you. Move the FLIP into a wallet you control before you start.

The status page under your swap ID shows each step, and Etherscan shows both token transfers. If the FLIP transfer is confirmed and the page has stopped moving for a long while, email support@ghostswap.io with the swap ID and the transaction hash. Do not resend the FLIP. To reverse the trade later, use ONDO to FLIP.