MoonEdge is Integrating Chainlink VRF and Price Feeds To Secure Launchpad Allocations
It’s an important day for the MoonEdge team and our community as we proudly announce that we are integrating Chainlink Verifiable Random Function (VRF) and Chainlink Price Feeds to help secure the allocation of user funds for launchpad projects. As the most widely used decentralized oracle network, Chainlink oracles will play a key role in the MoonEdge ecosystem by helping ensure every user is provided an equal chance in participating in launchpad pools and that the exchange rate of user deposits reflects current fair-market prices.
This integration comes at the most opportune moment, as earlier this year, Polygon natively integrated support for both Chainlink VRF — a secure and verifiable random number generator — and Chainlink Price Feeds — proven decentralized price oracles — into their blockchain network. These Chainlink-powered decentralized services are time-tested and battle-hardened, already helping secure tens of billions of dollars in the DeFi ecosystem. They will provide MoonEdge with the suite of solutions needed to build a more engaging and secure launchpad platform.
How Chainlink Technology Supports Polygon dApps
Polygon continues to experience a dramatic rise in the number of dApps launched on its network and Chainlink plays a key role in providing Polygon developers with secure, scalable, and low-cost oracle solutions. Chainlink Verifiable Random Function (VRF) in particular allows developers to access tamper-proof randomness and create provably fair smart contract applications with exclusive user experiences.
This can include randomized NFT loot drops in decentralized gaming or NFT artwork that is randomly generated and distributed to users in a transparent and fair manner. From a user’s perspective, when players know that NFT is generated and distributed in a truly random manner without any type of manipulation, it establishes trust between them and the developer and leads to a long and fruitful relationship.
When combining Chainlink VRF with Chainlink Price Feeds, Polygon developers benefit from having the most advanced price oracle and RNG solutions in the industry. These features just happen to be two of the most crucial off-chain resources when creating secure and scalable DeFi protocols and blockchain gaming dApps.
Integration of Chainlink VRF and Price Feeds in MoonEdge Tier X
To help ensure our forthcoming Tier X allocation selection process is completely fair to all eligible participants, we required a secure source of randomness that was proven to be highly reliable and could not be manipulated. However, smart contracts cannot generate their own secure form of randomness. On-chain RNG solutions like blockhashes introduce vulnerabilities where miners can choose to publish a block only when this would generate more favorable results for themselves. Off-chain RNG solutions are opaque, requiring users to trust that the centralized data provider won’t manipulate the results to their benefit.
As a result, we chose to integrate Chainlink VRF for determining allocations as it could provide us a tamper-proof source of randomness that users can verify was not manipulated by the oracle nodes, users, or the MoodEdge team. 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 MoonEdge smart contract will only accept the random number if it has a valid cryptographic proof, providing users with automated and publicly verifiable proof directly on-chain that each MoonEdge Tier X allocation using Chainlink VRF for randomness is provably fair.
After a testing process has been completed, Chainlink VRF will be deployed to help reinforce the trust and transparency we share with our community and allow us to push our launchpad beyond the Edge of the Moon!
Additionally, we are integrating the industry-leading Chainlink Price Feeds to help ensure the accurate determination of correct funding allocation amounts. Chainlink Price Feeds are powered by a decentralized network of Sybil-resistant and security-reviewed node operators, including telecommunications enterprises and experienced DevOps teams. These reputable nodes aggregate data from across multiple premium data sources, introducing multiple layers of data aggregation and full market coverage to help ensure reliability during extreme market volatility. Therefore, projects launching using MoonEdge will have a greater assurance that they can raise the fixed amount of funds they expect, priced against the US dollar.
Ultimately, the combination of Chainlink VRF and Chainlink Price Feeds results in MoonEdge being able to provide a more fair and powerful user experience. With these Chainlink services already operating natively on the Polygon network without cross-dependencies on any other blockchain network, we can rapidly expand our ecosystem of data-driven smart contracts.
We would like to take a moment to thank our wonderful community for the overwhelming support you’ve shown us. As we continue on this journey we will look to integrate and partner with projects and teams that share our vision of creating the most effective decentralized launchpad in the industry.
“We’re excited to be integrating Chainlink oracles into the MoonEdge ecosystem to help ensure that the Tier X allocations are provably fair to all participants”
— the MoonEdge team.
About Chainlink
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 and subscribe to the Chainlink newsletter. To understand the full vision of the Chainlink Network, read the Chainlink 2.0 whitepaper. Want to discuss an integration? Talk to an expert.
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About MoonEdge
MoonEdge is the first decentralized launchpad that supports early-stage blockchain projects on Polygon. Our goal with every project support is to maximize their potential and provide them with the proper guidance to help facilitate fundraising and token distribution. Our stringent vetting of projects reduces the risk of rug pulls and/or scams, creating a safe ecosystem for users and developers alike.
