ZeroSwap Integrates Chainlink
Implementing Chainlink VRF — Variable Random Function in ZeeDO and Oracle in ZeroSwap Protocol
ZeroSwap is pleased to announce that it will integrate market-leading oracle network Chainlink to provide on-chain randomness for fair and transparent token distribution on the ZeeDO token offering platform.
ZeroSwap has created ZeeDO as a token distribution platform to provide unique services in the token generation market. As an initial DEX offering (IDO) platform, ZeroSwap is aiming to create a more fair, secure, and transparent token event through several features focused on fairness and security such as:
- A 100% transparent and fair manner of token distribution.
- Chainlink VRF-powered randomiser to select winners in a fair and secure manner.
- Proof of Participation NFTs and Proof of Winning NFTs.
- No hidden costs for companies to conduct an IDO.
Using Chainlink VRF, ZeeDO ensures that investors participating in each initial DEX offering (IDO) or initial token offering are selected from a pool with no way to manipulate the outcome of the selection, no way to predict selection and gain an advantage, and a transparent method of selection that anyone can independently monitor and review.
Chainlink VRF is an on-chain RNG solution that generates a random number and cryptographic proof using a seed from ZeeDO and the Chainlink oracle node’s private key. The cryptographic proof verifies the integrity of the RNG process as being tamperproof, ensuring that any on-chain function relying on it is truly random and unbiased. The ZeroSwap team, token generation teams, Chainlink oracles, or any other outside entities cannot tamper with, predict, or influence the outcome — it is a secure and fair method for randomization.
Integrating Chainlink Price Oracles for Secure Market Data
In addition to VRF, ZeroSwap will integrate Chainlink Price Data oracles in the ZeroSwap product suite on Ethereum, as well as on our expansion to Binance Smart Chain (BSC). The initial integration will open a pathway for companies to launch tokens on BSC through ZeroSwap using Chainlink VRF and secure and reliable Chainlink price oracles.
Moving forward, Chainlink is ZeroSwap’s preferred oracle solution for any of our future product integrations, as we are aiming to build a multi-chain-compatible decentralised exchange focused on making zero-fee transactions possible. We currently support Ethereum, Binance Smart Chain, Elrond, and aim to add Polkadot. As a blockchain-agnostic oracle network with integrations across these and many more blockchain ecosystems, Chainlink will help us become a “multi-chain DEX aggregator.”
“We’re excited to set ZeeDO apart from other IDO platforms by providing hyper-secure random number generation with Chainlink. Their proven oracle security gives us the assurance that our users will have a provably fair playing field when it comes to token distribution selection. This builds on our ongoing integration with Chainlink price oracles, which ensure that ZeroSwap has access to highly available and secure market data,” said ZeroSwap Co-founder Aayushi Jain.
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter and follow @chainlink on Twitter.
About ZeroSwap — Zeroswap is a multi-chain compatible decentralised exchange aggregator focused on making zero-fee transactions possible. We aim to make on-chain trading simple and easy by providing access to Ethereum, Binance Smart Chain, Elrond DEXes access under one roof. One of the core utility of $ZEE is to reduce friction in fundraising using digital assets. In order to facilitate activity around this, we have been building an initial dex offering platform named ZeeDO.