Entropyfi Using Chainlink Price Feeds and Chainlink Keepers to Help Power Amplified Prediction Games
Entropyfi is now using Chainlink Price Feeds for Polygon Mainnet launch as go-to oracle solution for price data within their amplified prediction games, also using Chainlink Keepers to automate the smart contract workflow for starting/ending prediction markets and calculating users’ profits.
Technical integration of Chainlink in Entropyfi
The Entropyfi test app is deployed on Polygon and can be accessed from https://app.entropyfi.com/#/Prediction. The testnet token acquisition guide can be found on Entropyfi’s Gitbook (https://docs.entropyfi.com/user-guide/getting-testnet-tokens).
As Chainlink launches its cross-chain solution, will likely use it to bridge the governance token across different scaling solutions that we use.
For the integration of Chainlink Price Feeds, they imported the Chainlink aggregator interface for each prediction pool contract and pointed to the specific aggregator that supplies price information for the prediction pair (for example, the BTC/USD price). The first player who deposits assets into the prediction pool will trigger a call to the Chainlink aggregator contract, fetch the asset price, and store it as the round’s index price.
The prediction pool contract also imports the Chainlink Keepers interface. The keeper compliant function checkUpkeep wraps around the condition to check whether it is game start time, settlement time, or none. If the checkUpkeep function returns True, then the Chainlink Keepers trigger the performUpkeep function, which determines whether the start game routine or the settlement routine should be triggered. If the start game routine is triggered, the smart contract deposits everyone’s assets to a lending protocol and locks the pool, and users can’t deposit in the pool until settlement. If the settlement routine is triggered, the smart contract fetches the settlement price from the Chainlink aggregator and calculates the PnL for longs and shorts.
Being a lossless prediction game, Entropyfi relies on accurate, up-to-date price feeds to start prediction games and help ensure fair settlement in both a timely and tamper-proof manner. In addition, Entropyfi will be deployed on multiple scaling solutions as well, so we needed a blockchain-agnostic oracle solution that can accommodate these flexibility requirements
Why Chainlink
After researching and comparing multiple oracle solutions, the Entropyfi team chose Chainlink Price Feeds due to its superior data quality and robust infrastructure, as well as its native support for numerous blockchains and L2s. For smart contract automation, we also compared alternative solutions, and found Chainlink Keepers to provide very clear documentation and thorough explanation on its pricing structure. Some of the unique benefits of integrating Chainlink’s decentralized services include:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates accurate global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
- Secure Node Operators — Chainlink Price Feeds and Keepers are secured by independent, Sybil-resistant nodes run by leading blockchain DevOps teams. Chainlink nodes have a strong track record for reliability, even during high gas prices and extreme network congestion.
- Decentralized Execution — Chainlink leverages a decentralized and transparent pool of nodes to provide strong guarantees around services, mitigating centralization risks by establishing high availability and tamper-resistance.
- Low Costs — Chainlink Keepers have several gas-optimizing features that lower the costs of automating maintenance tasks for users, including a rotating node selection process to prevent gas price auction wars and stabilize costs.
“In addition to providing stellar services, Chainlink also has a strong community around it, which is something we really appreciate. We’re excited to integrate these Chainlink solutions to enhance the accuracy and reliability of our prediction markets.” — DC, Product Lead at Entropyfi
About Entropyfi
If you are someone that is interested in speculation and don’t like to take risks, you’ve come to the right place 😎
Entropyfi offers prediction games on crypto-assets, NFTs, DeFi indexes, and other on/off-chain assets which rewards users with amplified yields. In other words, you can engage in market speculation without putting your principal at risk. Our platform features:
- Zero loss prediction games
- Permanent long or short position setting
- Roll over winnings week by week to amplify income passively
- Fair game design
Entropyfi has launched on Polygon Mainnet on November 3rd. To learn more about Entropyfi, visit our website and our Medium. Visit Entropyfi’s Gitbook for developer guide and user guide in our Gitbook Docs. For regular updates follow our Twitter and join our Telegram and Discord community.
SOURCE:
Medium
