KSM Starter Integrates Chainlink VRF to Secure the Integrity of it’s Draws
The team is proud to announce that KSM Starter — Kusama’s primary launchpad -will integrate Chainlink Verifiable Random Function (VRF) into the launchpad’s automatic draw process.
By integrating Chainlink’s industry-leading decentralized oracle network, Kusama Starter can obtain access to a tamper-proof and auditable source of randomness needed to secure a decentralized and trustless draw system. This will set KSM Starter apart as a genuinely innovative launchpad. By embracing a more secure, transparent, and fraud-proof user experience, the KST community can rest assured that the IDO allocation system is completely fair, and free from self-serving interference. Through using Chainlink, draw data will be open source and subject to community supervision, thus giving them the tools to take charge of KST’s decentralized autonomous organization.
As the crypto-sphere gathers in anticipation for the upcoming parachain auctions, Kusama Starter is paving the way for the ecosystem’s success by creating the infrastructure needed to give early projects a high liquid start. To this end, integrating Chainlink — and earning the community’s trust — represents a great first step in setting the tone for the ecosystem’s future.
Kusama Starter Co-Founder, Siwon Kim remarked: “Integrating Chainlink was something of a no-brainer for us. As a launchpad advocating for decentralized projects, to not randomize draws in a decentralized way would be pretty hypocritical. In any case, we’re excited to set the bar high, and hope other launchpads follow our example.”
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
Chainlink is trusted by hundreds of organizations, from global enterprises to projects at the forefront of the blockchain economy, to deliver definitive truth via secure, reliable oracle networks. To learn more about Chainlink, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper.
About KSM Starter
KSM Starter is the primary launchpad on Kusama and is built to provide early-stage support and public funding for projects building on Substrate. IDO selection is driven by the community and shared values of fairness, transparency, and decentralized organization. Unique to the KST ecosystem, collaboration is fostered among launched projects by incentivizing community members to support previous launches through improved draw odds. This along with the KST Ecosystem Council generates a synergistic network effect that empowers all projects to succeed and leave a lasting impact on Kusama.
KSM Starter is set to offer its native KSM Starter Token (KST) to the public in the coming weeks. Stay tuned to the official twitter and telegram to remain updated on important announcements.