MakiSwap Integrates Chainlink VRF on Polygon to Select Winners in Its Lucky Draw Game
MakiSwap, a leading HECO-based AMM exchange, has opted to use Polygon to operate its lucky draw game, which will give everyone a chance to win prizes. Users can join at any time, as long as they have MAKI.
MakiSwap is a fork of PancakeSwap that operates on the Huobi Eco Chain. It offers extreme stability, low transaction costs, and is environmentally friendly technology thanks to a cutting-edge Proof-of-Stake system.
As part of the lucky draw game, MakiSwap is using Chainlink VRF to help ensure fair, tamper-proof results that users can publicly audit to prove its high integrity.
The Chainlink Verifiable Randomness Function (VRF) is a decentralized and oracle-powered service that provides smart contracts with a secure source of randomness on the blockchain.
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 MakiSwap 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 provides users with automated and verifiable proof that the randomness is provably fair and wasn’t tampered with or predictable by the oracle, outside entities, or the MakiSwap team.
Fairness is one of the fundamental factors of lucky draws, which also plays a crucial role in the creation of MakiSwap’s distribution mechanism. Chainlink VRF has already proved its efficiency in a wide range of blockchain-based games.
How it Works
MakiSwap’s lucky draw system is a fork of PancakeSwap lottery v2. Users win prizes if they match the numbers from left to right. The more matched numbers a user has, the bigger the reward.
To win the prize, participants need to meet the program’s conditions. In other words, the numbers drawn need to match in the same order as the selected balls, counting from the left of the ticket.
For example, if a ticket has 6 numbers that match the number on the ball except for the 5th, The reward only counts the first 4 numbers.
If a ticket has 3 numbers that match the number on the ball, but the first number from left to right doesn’t match, then the ticket will receive no prize.
The prize amount of each ticket will depend on the number of winning tickets in the same prize bracket. Simply put, if the player is the only one with a 3-digit match ticket (the predetermined reward number of this prize bracket is 1000 MAKI), they will receive the full 1000 MAKI.
However, if there’s one more player with 3 matching numbers, 1000 MAKI will be split into two winning tickets, meaning each player will receive 500 MAKI.
Prize distribution in V2 will be more widespread.
The chance of winning small rewards will therefore increase because the numbers that need to be matched in series to win the biggest prize also increase. The opportunity to get the largest jackpot is quite competitive.
● What if there is no winner?
If there is no winner, the prize will be carried over to the next round.
● What if a user can’t claim the prize even if the ticket matches many numbers?
Tickets are only eligible for prizes if they match the numbers from left to right as explained above.
● What is the discount when buying in bulk?
Players will receive a discount when they buy 2 or more tickets. The more tickets a user buys, the bigger the discount will be.
● Limited ticket purchases
Players can buy more than 100 tickets, but they can only buy up to 100 tickets in one purchase.
● If a player has 2 or more tickets with the same number and they all win, is it possible to claim the prize for each ticket?
Absolutely. Players will receive a reward for each ticket separately. The prize in that reward box will be distributed equally among the number of winning tickets.
MakiSwap is growing with the UniLayer ecosystem. It was created to support DeFi development, and also allow for the Huobi network to offer a top-notch yield farming platform.
As a leading Automated Market Maker (AMM) exchange, it brings a refreshing trading experience for both novice and professional traders using the broad range of trading tools offered by UniLayer.
The MakiSwap protocol, which is powered by the MAKI governance token, is yet to be distributed through a public sale. After raising a total of $1.4 million in private sales, the MakiSwap development team will issue MAKI tokens on both Binance Smart Chain and Ethereum.
In addition to the rewards earned from providing liquidity to project teams, the MAKI holders are able to generate additional income. This additional profit will be accrued proportionally based on the number of tokens each user has staked against the total number of LP tokens.
About Polygon Network
Polygon Network is a sidechain-based scaling solution backed by Binance and Coinbase. Matic Network (Polygon) focuses on the Ethereum ecosystem, taking Ethereum as the chain that connects everything. Polygon has attracted a tremendous amount of interest. The platform makes transactions inexpensive and fast.