Supersonic Finance Will Integrate Chainlink VRF to Secure and Ensure the integrity of randomness on it’s IDO Platform
We’re excited to announce that Supersonic Finance — cross chain self-sustainable Ecosystem of blockchain solutions —will integrate Chainlink Verifiable Random Function (VRF) on the Binance Smart Chain (BSC) 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 ensure openness and integrity of our IDO (SaleX) whitelist tickets. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can rely on industry leading blockchain technology integrated with our platform.
The SaleX IDO platform is a cross chain decentralized application that provides blockchain projects the ability to go public and sell their tokens swiftly and cheaply. SaleX consists of both the premium token offering and the permissionless token sale function that provides an avenue to circumvent the hassles involved in raising and allocating liquidity in Initial Token Offerings.
Just as it sounds, the SaleX premium version involves the formal application of projects and assessment of their claims in order to go live. This ensures the creation of trust in investors and maximum potential for the project. Chainlink’s VRF is employed to whitelist wallet addresses for early access into the token sales.
The regular version of the SaleX which is permissionless only involves the developer to import the tokens into our presale contract and then set the functionality as required. Completing sales on this version is a swift and enjoyable process that can be completed within a few minutes.
In order to ensure integrity of early access to pre-sales through random selection of few tickets out of many in our launchpad, 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 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 SaleX 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 SaleX is provably fair and cannot be tampered with by the oracle, outside entities, or the Supersonic Finance team.
Supersonic Finance aims to develop a plethora of cross-chain products with unique features that will serve developers and end users efficiently thereby advancing decentralization in our world. The integration of Supersonic Finance with Chainlink for this process is foolproof given that both supersonic finance and chainlink cannot influence the decisions of the VRF during the selection process.
“Chainlink’s VRF is an industry leading blockchain solution that is capable of ensuring trust. The VRF consolidates supersonic finance's SaleX by enabling the selection process of candidates” - Jin, Co founder, Supersonic Finance.
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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About Supersonic Finance
Supersonic finance is a high performance platform engineering the development of an array of cross-chain solutions for developers and end users. The supersonic finance team bridges the gap between developers and the tools needed for completion and efficient decentralization of projects with an advanced system designed for project success.
We are committed to constructing a hub of cross chain products where developers will not have to break a sweat to obtain the best for their community. Our vision is linked to the prosperity of our community because we are interested in developing symbiotic relationships that are beneficial to the cryptocurrency world. As we seek to contribute to the advancement of decentralization, we remain committed to ensuring that we put the community first.
Find out more on this amazing project visit supersonic.finance, follow our medium medium.com/supersonicfi and twitter.com/supersonicfi Get further knowledge on our project through our whitepaper