RoboFi Will Integrate Chainlink VRF to Secure Randomization on RoboFi Game
We’re excited to announce that RoboFi — a DeFi platform that envisions a marketplace for revolutionary DAO crypto trading bots through a new concept called Initial Bot Offering (IBO) — will integrate Chainlink Verifiable Random Function (VRF) on the Binance Smart Chain 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 winners fairly from the IBO participants list. Ultimately this creates a more exciting, transparent, and fraud-proof user experience. During the selection process, winners will be chosen in the fairest, most transparent way.
An IBO is a new concept introduced by RoboFi that allows bot creators to launch their crypto trading bots into the RoboFi ecosystem for the purpose of raising capital. Users who participate in an IBO will have a chance to participate in bot games. The bot games, which come as lucky draw games, are reserved for governance users who hold bot governance tokens after an IBO.
There are two kinds of games in RoboFi ecosystem:
- Luck of the draw game among managers inside one bot. In this game, one governance user will be selected as the winner and take the prize of that one bot.
- Luck of the draw game among many bots. In this game, one bot will be selected as the prize winner. Then, that prize will be shared for all governance users of that bot.
Each participant will have a number of tickets. Periodically, the bot game smart contract will randomly determine winning tickets. Winners will share the prize of the game.
In order to select winners fairly, 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 confirm 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 RoboFi 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 RoboFi is provably fair and cannot be tampered with by the oracle, outside entities, or the RoboFi team.