MaticLaunch Will Integrate Chainlink VRF to Get Provably Fair Randomness for Allocation Evaluation
We’re excited to announce that MaticLaunch, a decentralized fundraising platform for the next generation of ideas built on Polygon, will integrate Chainlink Verifiable Random Function (VRF) on the Polygon blockchain. By integrating Chainlink’s industry-leading decentralized oracle network, we can obtain access to a tamper-proof and auditable source of randomness needed to select users out of hundreds, if not thousands, of entries. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can actually check the random draw on the blockchain knowing that s/he will have a fair chance in IDOs.
MaticLauch provides permissionless fundraising pool creation functionalities to blockchain entrepreneurs, diverting their skills into core product development while the community vets projects via autopilot governance events that move projects into fundraising pools. Thanks to Polygon, the entire process will be effortless while consuming extremely low gas fees.
In order to transparently draw random users for a public pool, we need access to a secure random number generator (RNG) that any user could independently audit. However, RNG solutions for smart contracts require several security considerations to prevent manipulation and ensure system integrity. For instance, RNG solutions using on-chain data like block hashes can be exploited by blockchain miners, while off-chain RNG solutions like traditional data providers are opaque and don’t provide users with definitive proof about the integrity of the process.
After reviewing various solutions, we selected Chainlink VRF because it’s based on cutting-edge academic research, supported by Chainlink’s time-tested oracle infrastructure, and secured through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts.
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 MaticLaunch smart contract will only accept the random number input if it has valid cryptographic proof, and the cryptographic proof can only be generated if the VRF process is tamper-proof. This provides our users with automated and verifiable proof that launchpad services using randomness are provably fair and were not tampered with by the oracle, outside entities, or the MaticLaunch team.