Open Luck Integrates Chainlink Price Feeds
Open Luck has integrated Chainlink services, Luks Trading feature will now have support as Open Luck integrates all the Chainlink features Chainlink Keepers, Price Feeds, and Verifiable Random Function (VRF)
Chainlink’s features will help Open Luck in the current form:
- Automatic Crowdfunding (Keepers)
- Securing NFT Prices (Price Feeds)
- Selecting Lucky Draw Winner (VRF)
Automatic Crowdfunding (Keepers)
Automating the crowdfunding method is necessary as it lets Open Luck scale the platform seamlessly. While it’s possible to automate these functions using centralized scripts or manual intervention, these solutions introduce a single point of failure and undermine the security guarantees of our decentralized platform. Chainlink Keepers enable them to automate smart contract operations in a highly protected form.
Securing NFT Prices (Price Feeds)
The Chainlink Price Feeds will go along with the following USD-paired feeds: BNB, BUSD, ETH, USDC, and USDT. Digital artists can now list their NFT for sale easily and in various tokens.
Selecting Lucky Draw Winner (VRF)
Ensuring the participants have an equal chance of winning in lucky draws is a must! Participants win NFTs, so a fair, verifiable, and transparent mechanism is essential for properly distributing the NFTs.
Chainlink is known as a decentralized oracle network or blockchain abstraction layer. Chainlink uses blockchain technology to securely enable computations on and off blockchain, supporting what it calls hybrid smart contracts.
About Open Luck
Open Luck is the first decentralized Web3 cross-chain NFT liquidity trading marketplace. Integrating Chainlink will ensure Open Luck’s users that use Lucks Trading a smooth and fair chance of winning NFTs in a lucky draw.