Aloha Integrates Chainlink VRF To Fairly Select Winners of Raffles and Giveaways
We’re excited to announce that Aloha — an all-in-one DeFi platform — has integrated Chainlink Verifiable Random Function (VRF) on Polygon mainnet. By integrating the industry-leading decentralized oracle network, we now have access to a tamper-proof and auditable source of randomness needed to select winners from Aloha’s upcoming raffle and giveaway events. Ultimately, this creates a more exciting, transparent, and fraud-proof user experience, as users can participate knowing that the selection of winners will be completely impartial.
Aloha is a comprehensive DeFi platform with a focus on NFTs and staking. Built on Ethereum and powered by scaling solution Polygon, users can use their NFTs to stake, govern, and participate in contests, all of which reward them for their participation. The platform also plans to onboard merchants with its Aloha 4 Business module.
In order to pick winners in a truly random manner in the upcoming monthly raffle contests, 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 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 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 Aloha 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 Aloha’s raffles and giveaways are provably fair and were not tampered with by the oracle, outside entities, or the Aloha team.
“Chainlink VRF was seamless to integrate, providing our platform with access to an on-chain source of randomness that anyone can audit to prove that’s it’s tamper-proof,” commented Martin (X), Founder of Aloha DeFi. “Ultimately, integrating Chainlink VRF will help further a more transparent and fair platform experience for users participating in our community games and events.”
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.
Aloha is a DeFi platform that offers a suite of interconnected features to its users. These features, which include limited edition NFTs and a staking platform, and a soon to be launched DEX. At the heart of the whole ecosystem are ALOHA NFTs, which can be used for governance, staking, and as playable tokens in an upcoming game.