RoboFi, a DeFi platform working towards a new era of DAO crypto staking bots that utilizes a whole new concept called Initial Bot Offering (IBO), has announced that Chainlink has a verifiable random function (IBO). VRF) is integrated on the blockchain of Binance Smart Chain. After successfully integrating Chainlink’s industry-leading decentralized oracle network, the firm will acquire the full-proof and accessible sources needed to select winners equitably from the participants of the IBO list. Ultimately, this results in a more attractive, transparent and fraud-resistant product for the user. The winners will be selected as fairly as possible.
RoboFi has developed a new idea called IBO, which allows bot makers to place their bots for crypto trading in RoboFi’s system to raise cash. Users participating in the IBO will have the opportunity to play the bot game. The randomly generated bot game is only available to users who have bot governance tokens following the IBO.
In the RoboFi ecosystem, there are two types of games:
In a bot, managers play a game of chance known as “the luck of the draw”. This is a game where a user will be chosen as the winner and the bot will be rewarded.
Many bots in Luck of Draw: In this game a bot will be chosen as the prize winner. The reward will then be distributed among all users of the bot governance.
A certain number of tickets will be distributed to the participants. The smart contract in the bot game will regularly select the tickets won. The prize for the game will be divided among the winners.
The firm will need access to a random number generator that users can audit independently to choose the winners evenly. On the other hand, RNG solutions to operate on intelligent contracts require a number of security concerns to avoid manipulation and ensure system integrity. RNG solutions that employ block hashes that look like on-chain data can be misused by miners using the blockchain. Off-chain RNG solutions such as traditional data service providers do not provide consumers with conclusive confirmation of process integrity.
In its statement, RoboFi said that it has partnered with Chainlink VRF because of its high-quality academic research solutions. It is backed by Chainlink’s Oracle infrastructure and is highly secure.
Chainlink VRFs can create random numbers and crypto proofs after combining unknown block data, especially when access is requested and the oracle nodes’ secret keys are pre-committed.
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