SolaDefy Is Integrating Multiple Chainlink Services Into Its GameFi Launchpad
SolaDefy, a GameFi launchpad built on the Solana network — is integrating Chainlink Price Feeds and Chainlink Verifiable Random Function (VRF) into their gamified ecosystem and IDO launchpad.
Integrating Chainlink Price Feeds will help provide accurate conversion rates to assist in determining IDO allocations on their launchpad. Since they are now a multi-chain ecosystem and will attract many quality GameFi projects to its platform, it’s critical to have hyper-reliable and accurate price data that helps ensure a fair and tamper-proof IDO allocation process.
Soladefy chose Chainlink as their go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink Price Feeds already helps secure leading DeFi protocols with tens of billions of dollars in smart contract value, maintaining robust security and high availability — even when faced with unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
Helping ensure fair IDO allocations with Chainlink Price Feeds
Being a decentralized, multi-chain IDO launchpad, SolaDefy aims to conduct organic fundraising for GameFi projects across several top blockchain networks, while protecting investors from unfavorable outcomes and unforeseen circumstances. They are working tirelessly to reinvent the IDO system by making the process far easier and more engaging. In doing so, they want to provide IDO allocations for investors in a transparent way.
To provide transparent IDO allocations, they require access to up-to-date asset prices that are supplied directly on-chain with accuracy and efficiency. Chainlink Price Feeds supply accurate market asset prices by taking volume-weighted averages from all trading environments.
Soladefy selected Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that are aggregated from hundreds of exchanges, weighted by volume, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates more precise 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 are secured by independent, Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by the data provider or the oracle network.
- Transparency — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.
Helping create a provably fair reward system with Chainlink VRF
Chainlink VRF is the leading random number generator (RNG) solution for smart contracts that require random values without sacrificing usability and security. By using Chainlink VRF, SolaDefy is able to create a launchpad that’s more tamper-proof and transparent. Specifically, by utilizing Chainlink VRF, they can implement a transparent reward system on SolaDefy.
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 both a random number and a cryptographic proof. The SolaDefy smart contract will only accept the random number input if it has a valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This helps provide users with automated and publicly verifiable proof directly on-chain that rewards distributed using Chainlink VRF for randomness are provably fair and cannot be tampered with or predicted by the oracle, outside entities, or the SolaDefy team.
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.
About SolaDefy
SolaDefy is a Solana-based decentralized GameFi launchpad and ecosystem that reinvents the IDO playbook by introducing novel gamification elements for our curated community of committed investors. In essence, players can get a chance to earn an IDO allocation by playing and engaging with partner game projects.
⏩ SOURCE
