Convergence Finance x Chainlink VRF Integration

Published on: 10.09.2021

Convergence Finance integrates Chainlink VRF to allow Convergence’s smart contracts to access Chainlink Verifiable Random Function (VRF) to produce fair and unbiased randomness.

Convergence Finance is delighted to announce the integration of Chainlink Verifiable Random Function (VRF). Convergence now has native access to a tamper-proof and auditable source of randomness by integrating the industry-leading decentralized oracle network. The protocol can leverage Chainlink’s VRF to fairly pick users out of the pool of applications within future ConvO sale events and whitelist them in a provably fair and unbiased manner. Furthermore, participants will be able to verify the integrity of the results on-chain via cryptographic proofs.

Chainlink VRF works by combining block data that is still unknown when the request is made with the oracle node’s pre-committed private key to generate a random number and cryptographic proof. The Convergence smart contracts will only accept the random number input if it has valid cryptographic proof. The cryptographic proof can only be generated if the VRF process is tamper-proof. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can have stronger assurances that the selection of applicants in our sale events is made in a provably fair and verifiably random manner.

Ivan Yeung, Co-founder of Convergence Finance, said,

“Our team has been working hard to ensure all participants have fair access to all our sale events. The integration with Chainlink VRF will elevate this fairness to a whole new level using a technology trusted by many top-tier crypto projects. This could be the first step of deeper integration between Convergence and Chainlink, and we look forward to having further work with the leading oracle solution in the smart contract economy.”

About Convergence Finance

About Chainlink

📰 INFO

https://medium.com/convergencefinance/convergence-finance-integrates-chainlink-vrf-for-transparent-and-fraud-proof-distribution-events-9b742451c9fa

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