Everipedia Integrates Chainlink VRF to Power NFT Raffles on Polygon for IQ Stakers

Published on: 26.10.2021

Everipedia is launching NFT raffles powered by Chainlink Verifiable Random Function (VRF) on Polygon for HiIQ stakers, helping ensure winners are picked in a provably fair manner. IQ holders who stake their IQ with HiIQ will have the chance to get limited edition NFTs in addition to IQ token rewards for staking.

IQ holders have already staked more than 130 million IQ with HiIQ and have earned millions of IQ token rewards. More than 70% of IQ holders have staked their IQ for more than 3.5 years.

With the launch of NFT Raffles, every HiIQ token you hold acts as a raffle ticket. Your HiIQ token balance is based on how much IQ you’ve staked and how long you’ve staked your IQ for. The more IQ you’ve staked with HiIQ and the longer you stake it for, the greater the chance you have of getting an NFT.

To help ensure the fairness of the NFT raffles, Chainlink Verifiable Random Function (VRF) has been integrated on Polygon to select the winners. Chainlink VRF provides a tamper-proof and auditable source of randomness needed to select the winners of the HiIQ NFT raffles in a verifiably fair and random fashion. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as HiIQ stakers can rest assured that the random numbers used in raffles are verifiably fair and were not tampered with.

“Integrating Chainlink VRF into the Everipedia platform to power our NFT Raffle mechanism for HiIQ stakers was crucial to helping provide our users strong assurances that winners are selected in a truly random and verifiable manner, enabling us to fairly reward our community for their participation in the ecosystem,” stated Theodor Forselius, CEO of Everipedia.

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or read the documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About Polygon

Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 1200+ applications hosted, ~600M total transactions processed, ~60M unique user addresses, and $5B+ in assets secured.

If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.

About IQ

The IQ token is a DeFi, NFT, and Oracle token centered around bringing the world’s knowledge on-chain from finance to art to data. The IQ token is multichain available on Ethereum, Binance Smart Chain, Polygon, and EOS. The IQ token will also be the native token of the upcoming Brainchain, the first blockchain dedicated to bringing real-world knowledge on-chain. The IQ token was first launched in 2018 and powers Everipedia encyclopedia, the decentralized prediction market PredIQt, the first-party oracle service Everipedia OraQles, and the staking platform HiIQ.