Recharge.Finance Will Integrate Chainlink VRF to Secure Recharge Zap Reward Contracts
We’re excited to announce that Recharge.Finance — will integrate Chainlink Verifiable Random Function (VRF) starting with the Binance Smart Chain soon to be followed with deployments to Ethereum and Polygon. By integrating Chainlink’s industry-leading decentralized oracle network, we can obtain access to a tamper-proof and auditable source of randomness needed to ensure that our new Zaps smart contract is being fed truly random inputs to allow trustless verifiable random reflections. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can rest easy knowing that the rewards are being determined with authenticity and integrity.
With Recharge Zaps, RCORE holders will be eligible for a random draw to receive an airdropped portion of the bridge tokens at specified intervals. RCORE is pegged 1:1 with R3FI, but with the rewards diverted to the Reactor to fuel the platform’s development and secondary experimental rewards systems.
These winners will be selected automatically by a smart contract that communicates with the Chainlink VRF Oracle to determine the winners. The rewards do not stop there, for each consecutive draw that RCORE tokens are held in the same wallet, they will receive an additional chance the next month.
In order to pick Zap winners while being completely transparent with the public, 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 guarantee 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 Zap 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 our users with automated and verifiable assurances directly on-chain that the winners chosen by the Zap smart contract are provably fair and cannot be tampered with by the oracle, outside entities, or the Recharge.Finance team.
Recharge Zaps will debut our first offering with the industry-leading oracle service, Chainlink. The Zap smart contract is interoperable and can be implemented anywhere Recharge can be deployed, and will be a standard feature in future network expansion.
Chainlink is commonly known for its price feed oracle that is widely used as the industry standard. Along with Chainlinks VRF, the Chainlink price feed, and keeper oracle allow for many DeFi smart contracts to operate. Recharge strives to only bring the best in our offerings, so it is needless to say that any future oracle needs for features such as Recharge Reflection Loans, DeFi NFTS, or any other innovations taking place in the Recharge Labs.
“Chainlinks VRF is a powerful tool providing true on chain verifiable randomness for our Randomized Reflection based Zap contract which allows our users to engage and feel confident with Recharge Reflection smart contracts.”
-Kate Wilson, Recharge Project Lead
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.
Recharge Finance is a yield farming ecosystem built around frictionless yield cross chain reflection technology. The token technology works by automatically distributing a portion of every transaction to all holders. This token mechanic powers a larger DeFi ecosystem, with the token reflections acting like a supercharger in an engine, giving new momentum to Recharge’s offerings.
R3FI tokens are multichain assets with their native bridge, allowing 1:1 swaps between Ethereum and BSC, with Polygon being added soon. Recharge is dedicated to bringing innovative DeFi offerings to its holders and into the Recharge ecosystem wherever available, with the next exciting offering being Zaps! You can learn more about the Recharge ecosystem by reviewing the Recharge Finance Whitepaper.