Protocols across BNB Chain, Avalanche and Ethereum find great value in using Chainlink’s smart contract infrastructure.
Chainlink Starts July on the Right Foot
Four protocols integrated Chainlink’s data network to bring more secure and reliable products to the blockchain.
In this week’s roundup:
Decentralized Space Travel
With the vision to decentralize space exploration, MoonDAO purchased two tickets on the Blue Origin rocket to space. One of these tickets was awarded to a randomly selected holder of the free Tickets to Space NFTs.
The integration was revealed to BSC News by the Chainlink team via an exclusive press release.
“Chainlink VRF played a key role in helping select a random NFT Ticket to Space holder to win a seat aboard the Blue Origin rocket. Using a provably fair, tamper-proof source of randomness from Chainlink VRF helped enable our community to verify that this once-in-a-lifetime opportunity was given out randomly, ” said Pablo Moncada-Larrotiz, MoonDAO’s admin.
Random number generators (RNGs) derived from blockchain data can be exploited by validators, while RNGs derived from API off-chain data don’t provide definitive proof of the process integrity. For this reason, RNGs implemented in smart contracts require several security considerations to prevent manipulation.
OpenLuck Opens Up
The move will support Lucks Trading, an innovative model that combines crowdfunding and a raffle draw.
“Chainlink trust-minimized services are essential for our NFT marketplace. By integrating Chainlink Keepers, Price Feeds, and VRF, we’re able to enhance the security of our crowdfunding feature, NFT prices, and lucky draw,” said Kevin, CMO of OpenLuck.
Chainlink Keepers automate the crowdfunding process to scale the platform.
Price Feeds help accurately price NFTs in BNB, BUSD, ETH, USDC, and USDT.
VRF helps draw winners transparently.
RoboVault Integrates Chainlink Bots
Keepers are the backbone of RoboVault’s delta-neutral strategies. These strategies use multiple portfolio positions to neutralize one another and remain unaffected by small movements in asset prices.
“While some might get away with using in-house solutions or less-reliable services because the underlying use cases are less stringent, rVaults require the best automation service in the industry, which is clearly, in our minds, Chainlink Keepers,” the RoboVault team said.
RoboVault must rebalance assets when prices move to avoid potential liquidations on borrowed positions. “Asleep” functions exist in the contract to transfer assets in specific ways, and external entities “wake up” the smart contract and call these functions.
In a nutshell, RoboVault needs Chainlink Keepers to:
Support automatic yield harvesting to maximize return.
Call functions when prices fluctuate, and the strategy suddenly becomes at risk of liquidation.
Finally, the last integration in this week’s roundup is a new VR ecosystem — the Dvision Network.
The initial integration with Chainlink leverages the Price Feeds as the primary oracle for the marketplace. This way, users can estimate their expenses when creating NFT items.
Dvision Network will also integrate Chainlink VRF to distribute chance-based rewards to users who accomplish specific tasks.
Check out BSC News’ weekly roundup to keep up with the latest regarding the smart contract powerhouse.
Last four editions:
June 24: ApeSwap, Joepegs and MEXC
June 10: Staking, Integrations and Avalanche
What is Chainlink:
Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.
Where to find Chainlink:
What is MoonDAO:
MoonDAO is an international collective of people united by the mission of decentralizing access to space research and exploration. They raised $8.3 million in a crowd raise to purchase two tickets to space with Blue Origin. Next, they are creating a grant program to allow for the funding of public goods in space. MoonDAO is an open organization where anyone can work and govern the DAO.
Where to find MoonDAO:
What is OpenLuck:
OpenLuck is a Web3 decentralized cross-chain NFT liquidity trading marketplace. Their goal is to become a global and creative marketplace where users can trade NFT located in various blockchains, fully decentralized and with the strongest security.
Where to find OpenLuck:
What is RoboVault:
RoboVault has developed several pseudo-delta neutral strategies in which users deposit tokens such as USDC, WBTC & WETH. The strategies automatically compound rewards from trading fees and farming rewards over time. Through these strategies, users can capture a portion of the high yields available to LP providers without exposing themselves to market movements.
Where to find RoboVault:
What is Dvision Network:
The Dvision Network is a new VR content ecosystem that utilizes blockchain technology. It aspires to provide the best user experience by using Blockchain and VR and creating an unprecedented and inclusive virtual ecosystem for businesses and designers.
Where to find Dvision Network:
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.