SuperLauncher DAO Integrates Multiple Chainlink Services to Support Launchpad 2.0 and OTC Certificates Marketplace
We’re excited to announce that SuperLauncher DAO — The Future of Distributed Capital — has integrated Chainlink Verifiable Random Function (VRF) and Chainlink Price Feeds on the Binance Smart Chain mainnet. By integrating the industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness needed to help ensure a verifiably fair raffle system for our users. With the integration of Chainlink Price Feeds, we now have access to high-quality, tamper-proof price feeds needed to help conduct flexible token raises for projects and convert our OTC Certificates Marketplace multi-token payment options into USD rates in real-time.
SuperLauncher DAO’s Launchpad 2.0 will launch its first IDO on 14 Jan 2022. The Chainlink integration is a key component that will help us deliver future-proof architecture and a more robust allocation model that powers flexible and decentralized management of capital.
Chainlink Verifiable Random Function (VRF)
SuperLauncher DAO’s Launchpad 2.0 will offer a guaranteed, raffle and first-come-first-serve options to users depending on the amount of $LAUNCH staked in the DAO. In order to help ensure verifiable fairness to users who qualify for the raffle round, we needed 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 a time-tested oracle network, 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 SuperLauncher DAO’s Launchpad 2.0 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 Launchpad 2.0 is provably fair and was not tampered with by the oracle, outside entities, or the SuperLauncher DAO.
Chainlink Price Feeds
The integration of Chainlink Price Feeds serves two key purposes for the SuperLauncher DAO. The 1st use case is to power an integral component of Launchpad 2.0. We mentioned in our Features that we will be introducing flexible token raises for projects that we host. It is common that projects opt to raise in BNB but want to list in BUSD to avoid token price volatility. With the integration of Chainlink Price Feeds, Launchpad 2.0 can now perform these conversions with high-quality and tamper-proof price feeds.
The 2nd use case, which will soon be introduced, is the integration of Chainlink Price Feeds to our OTC Certificates Marketplace, which is currently live on BSC and Polygon. This will allow real-time conversion of payment token options to a USD equivalent, which will ensure better price discovery and increase the trading volumes.
Our initial integration involves the use of the following Chainlink Price Feeds: BNB/USD, BUSD/USD, USDT/BNB, USDC/BNB, and DAI/BNB. We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
In order to help secure SuperLauncher DAO’s Launchpad 2.0 and OTC Certificates Marketplace, we needed access to real-time asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we integrated Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
- Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
“Chainlink is the industry standard for providing secure, decentralized off-chain services that protocols need as part of a broader security and transparency mission. SuperLauncher DAO is excited to reach this next step of our security roadmap to provide the platform users with the most secure and reliable solution in decentralized off-chain data delivery and computation.”
- SuperLauncher DAO Founding Contributors
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.
SuperLauncher is an investment DAO that funds and collaborates with projects that are shaping the future of the blockchain. We facilitate mass participation in Seed/Private/IDO rounds through our smart contract architecture and offer a feature-rich platform that powers flexible and decentralized management of capital.