Myobu Integrates Chainlink VRF to Secure The “Fountain of Fortune” Giveaway Contract
We’re excited to announce that Myōbu, the project which plans to give back more to its community than any other project in the cryptoverse has integrated Chainlink Verifiable Random Function (VRF) on the Ethereum 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 select a random user from the pool of all users who contributed to the fountain contract. Ultimately this creates a more exciting, transparent, and fraud-proof user experience, as users can be certain that the contract will work, and cannot be exploited in any way.
This means users can contribute ETH to the Fountain of Fortune contract, receive their tickets in exchange and then the winning ticket will randomly be selected from the list of pooled users via the Chainlink VRF. This will all be done automatically in a trustless, immutable way. (Which is essential for a protocol which will process millions of dollars worth of contribution & distribution.)
In order to ensure the winner is truly selected randomly, 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 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. This Myōbu 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 the Fountain of Fortune is provably fair and cannot be tampered with by the oracle, outside entities, or the Myōbu team.
As Myōbu expands, the project will continue to evolve and create new & exciting ways for the community to enjoy more fun, useful and rewarding features. Whenever an oracle is needed, Chainlink is the obvious choice. Whether it will be a “pick the price” game or a “random draw winner” contest, our smart contracts will integrate Chainlink solutions to make this a trustless experience.
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.
Myōbu is a community project creating fun, useful and rewarding ways to experience the magic of the blockchain, while also creating a project destined to increase in market cap, via the “guaranteed growth tokenomics.” Whether it’s sponsoring events, giving away prizes or creating unique and entertaining games with valuable prizes, the project is always looking to spread the blessings and joy associated with the celestial foxes its named after. Myōbu defines itself as community token. It aims to develop more rewarding games (such as the Fountain of Fortune) to become a market leader in the GameFi space.
Myōbu is loved by its community, who call it “the fox headed to the top.” As Myōbu grows, it’s certain to create more opportunities for everyone involved to not only create their fortune, but also to enjoy the ride as well. To learn more, check out the Fox Paper.