Starter Integrates with Chainlink for VRF & Price Feed Support
Chainlink’s state-of-the-art data sources & secure off-chain computations support the ever-growing Starter ecosystem
Starter has come a long way from being one of the first-ever launchpads on Binance Smart Chain, formerly BSCstarter. We have evolved into a multi-chain launchpad with multiple sold-out IDOs on Polygon, and BSC, and recent deployment on Ethereum and Fantom.
More than a launchpad, Starter has become an ecosystem of interlinked but separate projects, each with its own use case and unique selling points. At the heart of it is Starter, the launchpad you have all come to know and love.
Working in tandem is Start Vesting, a fully integrated vesting and token locking protocol that automatically locks the liquidity of every project that launches on Starter.
Starter Capital provides vital financial support and infrastructure for the most promising projects to IDO with the launchpad. And Starter Swap is the soon to be available cross-chain DEX & AMM, featuring liquidity farming pools & more.
Naturally, various elements of this ecosystem, particularly Start Vesting and Starter Swap, require support from an Oracle to be operational. This is where Chainlink comes in…
Price Feed Integration
We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already secures leading DeFi protocols responsible for billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
In order to secure smart contracts that underpin various elements of the Starter ecosystem, we need access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments, so we need to make use of an oracle to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we selected Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, ensuring broad market coverage through price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates accurate global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
- Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
Verifiable Random Function (VRF)
We have some special functions & utilities in mind for Starter Swap, integral to it is 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.
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 Starter 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 assurances directly on-chain that this automated function is provably fair and cannot be tampered with by the oracle, outside entities, or the Starter team.
We are delighted to be working with the consummate professionals at Chainlink, enabling us to continue to build the finest functionality and market-leading secure and verifiable automation into our Launchpad, DEX, and Vesting products.
Price feed integration and VRF integration are just the beginning. There is much more to reveal.
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.
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🚀 START Polygon Contract:https://polygonscan.com/token/0x6ccf12b480a99c54b23647c995f4525d544a7e72
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