What is Clipper?

Clipper is the blue-chip DEX with no impermanent loss.

The Blue-Chip DEX

Clipper is a DEX designed for blue-chip tokens (e.g., ETH, WBTC, USD stablecoins, etc.) and no impermanent loss. Blue-chip tokens comprise 70% of all on-chain trading volume.

Clipper's novel architecture makes money for LPs using the same arbitrage strategy used by professional market makers, but implemented in a permissionless and non-custodial manner. In contrast to most DEXs, Clipper's LP yields are not generated from fees.

Clipper computes prices off-chain using a sophisticated formula that incorporates low-latency price feeds from centralized exchanges along with a snapshot of on-chain state. It then uses on-chain proofs to validate prices and preserve permissionlessness. This allows Clipper to make money from arbitrage, instead of paying a tax to arbitrageurs, while keeping gas fees low for traders. On Clipper, liquidity providers take home superior yields with no impermanent loss and traders can expect no whales or bots front-running their trades. Clipper was initially developed by Shipyard Software and licensed to AdmiralDAO.

Previously, Clipper focused solely on smaller trades. Recent architectural improvements now allow it to provide best prices for all trades, with sufficient TVL.

Clipper is currently available on the following chains:

  • Ethereum

  • Polygon

  • Optimism

  • Arbitrum

  • Mantle Network

  • Base

⛵️ Fun Fact: Clipper is named for the mid-19th-century merchant vessels that revolutionized global trade. Clipper ships were designed for speed, partially by trading off cargo capacity, and made their owners millions of dollars.

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