DestinyDAO Partners with Chainlink for Transparency and Automation
DestinyDAO is excited to announce that we have integrated Chainlink VRF on the Binance Smart Chain mainnet. By integrating the industry-leading decentralized oracle network, we have access to a verifiably random number generator that is used to choose winners of our NFT lottery events on the DestinyDAO protocol. Ultimately, this helps assure users that the raffles will be provably fair and transparent, building a more fun and exciting NFT experience for denizens participating in the recurrent NFT Lottery events.
Operated by a decentralized autonomous organization (DAO), DestinyDAO aims to become the bluechip financial reserve protocol and NFT Factory for the Binance Smart Chain ecosystem.
ABOUT THE NFT LOTTERY — WIN 100 BNB!
To help ensure provably fair drawings for the UPCOMING NFT Lottery, 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 derived from blockchain data like block hashes can be exploited by miners/validators, while off-chain RNG solutions derived from off-chain APIs 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 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 DestinyDAO NFT Lottery 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 raffle drawings are provably fair and were not tampered with by the oracle, outside entities, or the DestinyDAO team.
For the REBASE CONTRACTS, we are integrating Chainlink Keepers, to automate supply rebases of sFTL so that users can receive staked rewards through completely autonomous processes.
For Currency Data we are integrating Chainlink Data Feeds Oracles for stable and reliable pricing.
By associating whit Chainlink and integrating VRF and other services, we are further committing to building a transparent environment for the entire DestinyDAO community. Where anyone can independently verify the results of the NFT Lottery events. We look forward to adding more Chainlink services to our tech stack and building a robust product that will stand for many years to come.
ABOUT THE REBASE TOKENS AND PRESALE
PRESALE FOR REBASE TOKEN WILL BE HAPPENING AT THE END OF FEBRUARY — GET WHITELISTED!
DestinyDAO will ensure that each FTL will always be backed by at least one dollar in value by holding a certain amount of Binance’s BUSD within its DAO treasury — although the token can venture upwards as a floating currency that is subject to the whims of the free market. (REBASE TOKENS AND APP WILL BE LAUNCHED AT THE END OF FEBRUARY — GET WHITELISTED!)