Convergence Finance Integrates Chainlink VRF for Transparent and Fraud-Proof Distribution Events
The integration will allow Convergence’s smart contracts to access Chainlink Verifiable Random Function (VRF) to produce fair and unbiased randomness.
Convergence will pick random winners in the future offerings on ConvO, and the results are tamper-proof and verifiable on-chain.
The VRF integration signifies the beginning of a technical integration between Convergence and Chainlink, opening doors for deeper integrations in the future.
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.