Clipper
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FAQ
Clipper's frequently asked questions

General FAQ

Do I need ETH to start trading on Clipper?

If you want to use the Ethereum network you must have ETH in order to pay for "Gas" (GWEI). On Polygon, MATIC plays the role that ETH plays and you will need MATIC to swap with Clipper.

Where can I review your source code and whitepaper?

You can find those at the Shipyard Software github repository.
The Clipper Mainnet source code itself is licensed under a Business Source License that will revert to an open-source license in two years.

What are the addresses of the Clipper smart contracts?

On the Ethereum Mainnet:
  • Exchange Contract: 0x2e9c6Dcdca22A5952A88C4b18EDB5B54C5155BC9
  • Pool Contract: 0xe82906b6B1B04f631D126c974Af57a3A7B6a99d9
  • Router Contract: 0xf0f455E8b8F4f96Ae5109493C5d3eA5e2c09de47
On Polygon:
  • Exchange Contract: 0xD01e3549160c62Acabc4D0EB89F67aAFA3de8EEd

What kind of fees does Clipper have?

Any fees are reflected in the quotes you see from using our web page - no additional fees are charged beyond the quotes you see.

Can I provide liquidity to Clipper pools?

How do I report a bug in your system?

Has Clipper been audited?

Clipper went through source code audits with Solidified and Quantstamp. [See Audits]

Wallet

How do I connect my wallet?

Connect to your wallet by clicking "Connect Wallet", then select your network, and choose your wallet. A prompt from your wallet will pop up to log in.

When will you be able to accept wallets on other networks?

Clipper is now live on Polygon Network.

I have a hardware wallet. Can that be used as well?

Yes!

Ethereum Community Liquidity Program (CLP)

What is the community liquidity program (CLP)?

How does Clipper's CLP support offering the lowest prices on retail trades?

To ensure Clipper’s ability to offer the best prices for retail traders, it needs $20M in liquidity. The first $17M was committed by institutional liquidity providers (ILPs) pre-launch. As expected, these funds have served as a stabilizing force since Clipper set sail in July. Read this to find out why $20M is ideal for the best prices on retail trades.

How can I be notified first when the program launches?

Fill out this form to be first to be notified.

When can I start adding liquidity?

October 5th, 2021.

When can I withdraw my deposit?

July 1, 2022.

What is the minimum you can deposit?

There is no minimum, only a max of $10,000 USD.

How many deposits can I add?

You can only add one deposit of one asset, <$10K. This is to allow for as much participation as possible, given that the pool is capped.

Why is there a cap on certain assets?

To avoid opening up arbitrage opportunities, the CLP must be raised in proportion to the target fractions of the assets in the Clipper Pool. Eventually the community will govern the desired composition of pool assets, but right now it’s 30% ETH 30% wBTC 16% USDC 12% USDT 12% DAI.

Why would you consider it to be a threat to the stability of the pool if CLP users withdraw their deposit prematurely? Isn't the pool already stable with the current deposit from LPs?

Our original target was $20M until July 2022. While Clipper does already have $17M, the ideal amount is $20M. Everyone (ILP and CLP) is being treated the same so if the initial $17M was locked then the final $3M should also be locked.

Will people who aren't entered into the CLP still receive airdrops?

We cannot comment on airdrops as an American company.

Will there be an opportunity to contribute liquidity when you deploy on other layers?

That is indeed our expectation, but the terms may be different. TBD.

If the CLP is oversubscribed, how do you decide who gets in?

First come first served. Those who filled out this form will be notified first.

When you do the standard withdrawal after the lock-up do you get back a mix of assets in the pool?

Depositors can get the proportional mix of pool assets back, or any single asset (which means that they could construct their own withdrawal mix, if so desired). It’s all based on the invariant function (check the whitepaper) - in fact a “swap” is theoretically equivalent to an atomic (deposit of asset X and withdrawal of asset Y).

How to implement Diversification via Mixed Asset Exposure?

LPs (regardless of deposit) are exposed to a mix of the five pool assets. Impermanent Loss is mitigated by using external pricing oracles. We have seen very good performance from Chainlink so far, especially compared to the DAI oracles

Can we expect gas to be an optimized experience in CLP too?

Gas for the CLP transaction should be a little cheaper than for a swap.

What happens if the pool does not reach target liquidity?

In 90 days after the CLP begins, if the pool does not meet target liquidity, you can withdraw your deposit as a single asset (not necessarily the one you initially deposited) or a proportional mix of the pool's assets.

How do you prevent contracts from filling up the pool, rather than individual wallets?

Contracts are blocked from adding a deposit in Clipper's pool.

Polygon Network

What assets are supported on Polygon?

WETH, WMATIC, WBTC, USDC, USDT, GYEN. (WMATIC is "wrapped" MATIC, which converts the Polygon's Network's native MATIC token into a fully ERC20-compatible token.)

When does Clipper's Polygon CLP open?

Date coming soon.

How is Clipper's Polygon CLP different from Clipper's Mainnet CLP?

  1. 1.
    In order to make it easier for more community members to participate in the Polygon CLP, each LP address will only be able to make a single deposit of up to $1,000 of one crypto asset.
  2. 2.
    Deposits will be locked for 60 days, and when you withdraw your deposit you will receive a proportional mix of all seven assets in the pool.
  3. 3.
    Only Clipper community members that whitelist their wallet address will be able to deposit on Polygon once the CLP opens. This is to ensure that everyone who tried to participate in the Mainnet CLP will be first in line for the Polygon CLP.

Will there be a limit on how much I can deposit?

Yes. You will be limited in your deposit to keep the pool at an ideal volume for retail traders. When you connect your wallet, you will be able to see you deposit limit.

How long will my deposit be locked before I can withdraw?

Your deposit will be locked for 60 days. After that, you can unlock it, then withdraw.

Who can add a deposit?

Anyone who has whitelisted their wallet address has the chance to participate in Clipper's Polygon CLP. However, only the whitelisted wallets of community members who have actively used Clipper and engaged with Clipper's community will be able to deposit liquidity. The Mainnet CLP pool filled up more quickly than expected, so we aim to include everyone who tried to participate in this first program in Clipper's Polygon CLP.

Will there be a "race" to fill this CLP, like on Mainnet?

Unlike on mainnet, there is no overall pool cap that are being imposed when the CLP opens. Whitelisted addresses will be able to deposit whenever they choose to, and there should be no time pressure to do so.

How does a token's current balance in the pool affect the value of a deposit?

Liquidity providers will be granted a larger number of pool tokens (and therefore, a higher percentage of pool ownership) for depositing assets that are currently undersupplied in the pool.
By looking at the star rating next to each asset, you can see how it's supply in the pool will impact your deposit. (i.e. An asset rated with 3 stars is undersupplied, therefore a deposit of this asset may be more likely to increase in value. An asset rated 1 star or 0 stars is oversupplied in the pool, therefore a deposit of this asset may be less likely to increase in value.)
This is an example and not a reflection of true value analysis.

Which assets can I withdraw?

A proportional mix of all seven assets that make up the pool, which equate to your overall ownership of the pool. (After withdrawal, you can use Clipper to swap out of any of these assets for your preferred crypto.)

When will Polygon's pool be open to non-whitelisted users?

There will be additional opportunities for participation following the initial restricted deposit period.

What CLP policies ensure that the Clipper Polygon pool will remain at the optimal size for small trades?

At launch, the CLP is restricted to whitelisted addresses and a deposit limit. This regulates the total amount of deposited capital in the Clipper Polygon pool.

How do I get on the whitelist? You should include XYZ on the whitelist!

We want active members of the community to participate, so we are taking a whitelist approach. This will include:
  • Those who attempted to participate in the CLP.
  • Those who participate in the Clipper Adventure to Polygon Isles
The former is tricky to define, especially because some people who attempted to participate didn't get their POAP, and some POAPs were created by bots/spammers. We plan to be smart with the data we have from multiple sources to try to filter for genuine community members. Since no filter is perfect, we will also have a form to apply for exceptions later on.

Transaction issues

What is "slippage"?

In the time between sending and executing your transaction on the blockchain, new transactions may change the Clipper Pool's asset base, meaning that the price the automated market maker executes your swap could change. When that price moves against you, it's called "slippage". On mainnet, you can adjust your Slippage Tolerance in settings (the "gear" icon at the top right of the swap interface). Setting a higher slippage tolerance makes transactions less likely to fail, but can open you up to execution at worse prices.
For Polygon other architectures, Clipper uses a different architecture, called Request for Quotes (RFQ). With an RFQ architecture there is no slippage and all of the quotes that the market maker creates are firm. That means long as you get your transaction to the Clipper smart contracts in time, the market maker will honor the quote that it gave you. Firm quotes also mean that when you specify an output value in an RFQ system, your transaction will indeed return exactly that output amount.

I'm having problems transacting on Polygon. Is it a problem with the Clipper website or with my wallet?

To check, disconnect your wallet and refresh the page (be sure that the red button says "Connect your wallet"). If you are able to get a quote for the assets you want to swap, then the problem is with your wallet, specifically, with the RPC endpoint that you used to set up the Polygon network.
We suggest the following RPC endpoints for Polygon:
  1. 1.
    We believe that Polygon-RPC is the best anonymous public choice. Set your RPC URL to https://polygon-rpc.com to use it.
  2. 2.
    Infura is robust, stable, and highly performant. It is what the Clipper developers and website use. It is free for individual accounts but signing up requires a credit card.
  3. 3.
    https://rpc-mainnet.matic.network/ OR https://rpc-mainnet.maticvigil.com/ are less favored but can be used if necessary. We have frequently observed problems with these endpoints.
We've also found Polygon to be more unreliable than the ETH mainnet, and so you may be observing issues with the Polygon network itself as opposed to the specific RPC endpoint you've selected.
If you cannot get a quote from the webpage after disconnecting your wallet, then the problem is with the Clipper website and we'd appreciate you letting us know in Discord.

Why did my transaction fail on ETH Mainnet?

The most likely explanation is that the market moved against you (slipped) by more than your Slippage Tolerance in the time between sending and executing the transaction. You can adjust your Slippage Tolerance in settings (the "gear" icon at the top right of the swap interface). Setting a higher slippage tolerance makes transactions less likely to fail, but can open you up to execution at worse prices.

Why did my transaction fail on Polygon?

In Clipper's RFQ architecture on Polygon the market maker's firm quotes are only valid for a certain window of time (default is 60 seconds). The most likely explanation for why your transaction failed is that it was executed on-chain after the cutoff time for it being valid.

Why is my transaction pending for so long?

The most likely explanation is that the gas price associated with your transaction was too low for miners to consider including it in a new block. Depending on your wallet, you may be able to cancel your pending transaction, or to re-submit it with a higher gas price. Etherscan maintains a detailed "Gas Tracker" page with frequently updated estimates of execution price and timeliness.

Will my gas cost be refunded?

As is typical for interactions on the Ethereum blockchain, any gas that was not consumed by a transaction on Clipper will be refunded to its sender.

Governance

When will you have governance?

Tokens

How can I add my own token to Clipper?

Clipper currently supports only five assets on Mainnet, wBTC, ETH, DAI, USDC and USDT. Other assets will be added in the future. On Polygon, Clipper supports WETH, WMATIC, WBTC, USDC, USDT, GYEN.

Why cant I find the token I am looking for?

Clipper currently supports only five assets on Mainnet, wBTC, ETH, DAI, USDC and USDT. Other assets will be added in the future. On Polygon, Clipper supports WETH, WMATIC, WBTC, USDC, USDT, GYEN.

When will you offer more cryptocurrencies and tokens?

Governance will decide what assets to add and when. The first priority is ensuring Clipper works with its first 5 assets.

How do I get air drops?

No air drops have been announced.

Will Clipper have its own Token?

Clipper does not yet have its own token, though eventually governance will be decentralized via a governance token.

What to do if I cannot find a token I want to trade in the drop-down menu?

Clipper currently supports only five assets on ETH mainnet and seven assets on Polygon. Other assets will be added in the future.
Last modified 11d ago
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Contents
General FAQ
Do I need ETH to start trading on Clipper?
Where can I review your source code and whitepaper?
What are the addresses of the Clipper smart contracts?
What kind of fees does Clipper have?
Can I provide liquidity to Clipper pools?
How do I report a bug in your system?
Has Clipper been audited?
Wallet
How do I connect my wallet?
When will you be able to accept wallets on other networks?
I have a hardware wallet. Can that be used as well?
Ethereum Community Liquidity Program (CLP)
What is the community liquidity program (CLP)?
How does Clipper's CLP support offering the lowest prices on retail trades?
How can I be notified first when the program launches?
When can I start adding liquidity?
When can I withdraw my deposit?
What is the minimum you can deposit?
How many deposits can I add?
Why is there a cap on certain assets?
Why would you consider it to be a threat to the stability of the pool if CLP users withdraw their deposit prematurely? Isn't the pool already stable with the current deposit from LPs?
Will people who aren't entered into the CLP still receive airdrops?
Will there be an opportunity to contribute liquidity when you deploy on other layers?
If the CLP is oversubscribed, how do you decide who gets in?
When you do the standard withdrawal after the lock-up do you get back a mix of assets in the pool?
How to implement Diversification via Mixed Asset Exposure?
Can we expect gas to be an optimized experience in CLP too?
What happens if the pool does not reach target liquidity?
How do you prevent contracts from filling up the pool, rather than individual wallets?
Polygon Network
What assets are supported on Polygon?
When does Clipper's Polygon CLP open?
How is Clipper's Polygon CLP different from Clipper's Mainnet CLP?
Will there be a limit on how much I can deposit?
How long will my deposit be locked before I can withdraw?
Who can add a deposit?
Will there be a "race" to fill this CLP, like on Mainnet?
How does a token's current balance in the pool affect the value of a deposit?
Which assets can I withdraw?
When will Polygon's pool be open to non-whitelisted users?
What CLP policies ensure that the Clipper Polygon pool will remain at the optimal size for small trades?
How do I get on the whitelist? You should include XYZ on the whitelist!
Transaction issues
What is "slippage"?
I'm having problems transacting on Polygon. Is it a problem with the Clipper website or with my wallet?
Why did my transaction fail on ETH Mainnet?
Why did my transaction fail on Polygon?
Why is my transaction pending for so long?
Will my gas cost be refunded?
Governance
When will you have governance?
Tokens
How can I add my own token to Clipper?
Why cant I find the token I am looking for?
When will you offer more cryptocurrencies and tokens?
How do I get air drops?
Will Clipper have its own Token?
What to do if I cannot find a token I want to trade in the drop-down menu?