Secure Randomized NFT drops From Using PYR Fiat Ramp
We’re excited to announce that Vulcan Forged has integrated Chainlink Verifiable Random Function (VRF) on the Polygon mainnet. By integrating Chainlink’s industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness needed to fairly randomize NFT drops to users of the PYR fiat on-ramp. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can now qualify for a weekly NFT drop simply by using the PYR fiat ramp once a week.
Vulcan Forged recently announced the introduction of fiat to PYR purchases thanks to a partnership with Wyre. Now, each week, anyone who has used the fiat ramp for purchases of 50 PYR or more will be selected at random to receive an NFT drop of the week.
In order to keep this draw random, 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 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 Vulcan Forged 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 proof directly on-chain that the Vulcan Forged NFT drop is provably fair and was not tampered with by the oracle, outside entities, or the Vulcan Forged team.
“Chainlink have been supportive of Vulcan Forged efforts from the get go. After discussing with other projects regarding their experience with Chainlink and noticing their expertise in VRF, we decided Chainlink VRF was the perfect fit” — Jamie Thomson CEO
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, 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 Vulcan Forged
Vulcan Forged is an NFT dApp ecosystem, game studio, and marketplace. Makers of vulcanverse, powered by $PYR
For blockchain game enthusiasts, Vulcan Forged is a one-stop shop where they can access popular games and a huge NFT marketplace to buy and sell digital assets in-game. The entire ecosystem is powered by its own PYR settlement, staking, and utility token. The ERC20 compatible PYR is a cross-platform currency that can be used in-game titles that are part of the Vulcan Forged ecosystem.