Prosper Integrates Chainlink Keepers
Automating Cross-chain Prediction Markets
Prosper is excited to announce it has integrated Chainlink Keepers to automate several prediction market upkeep tasks in a decentralized way. As the industry-leading solution for decentralized oracle feeds and off-chain computation services, Chainlink offers secure smart contract automation through Chainlink Keepers, which recently launched on Binance Smart Chain (BSC) mainnet. This integration minimizes trust in core elements of Prosper’s markets to ensure reliable performance as Prosper builds a vast cross-chain liquidity solution for prediction markets.
Prosper is a non-custodial, cross-chain prediction market. It has developed a prediction platform where users can predict the outcome of on-chain events such as the price of an asset or off-chain events like sports outcomes, political events, and more.
Prediction markets are similar to online surveys that can not be manipulated at the entry point, thanks to the volume and decentralization of the votes, nor at the endpoint thanks to the on-chain traceability and consensus guarantees of the smart contracts. Prosper aims to solve issues commonly met with traditional polls and surveys thanks to the security, transparency, and decentralization inherent within blockchains.
Prediction markets are still a very early niche within the DeFi and crypto ecosystem, and most of the early projects failed at gathering enough liquidity to reach sufficient stability and security for individual prediction markets. Prosper solves that by developing a cross-chain platform across leading blockchains — such as BSC, Avalanche, Polygon, Ethereum, Tron, Near, and Okex — and aggregating liquidities from multiple chains and tokens into the pool for a single prediction.
However, many of the smart contract execution tasks present in prediction markets require manual execution. These are fundamental smart contract requirements that necessitate an external impetus to engage the next step of a smart contract. To remove the centralized requirement of smart contract execution from the Prosper team, Prosper has integrated Chainlink Keepers to minimize trust and automatically trigger smart contract functions, offloading several key tasks to an impartial and secure network of Keepers node operators.
The Chainlink Keepers network is a decentralized network of nodes that projects can use to automate smart contract execution. This ensures the functions are run in a hyper-reliable, decentralized, and cost-effective way. Run by the same professional DevOps teams that help secure billions in dollars for leading DeFi protocols, Chainlink Keepers are highly secure and reliable.
Chainlink Keepers was integrated because Prosper needed to regularly trigger certain functions in a sequence of events that was not easily automated, such as collecting fees after the end of each Prediction Pool. This is because smart contracts are inherently asleep, requiring external entities to “wake them up” to trigger certain functions. By entrusting automation to Chainlink Keepers, Prosper is enabling smoother, less expensive, and more secure execution of the overall prediction smart contract.
After searching through a multitude of smart contact automation services, we selected Chainlink Keepers once they went live on BSC for several reasons:
- High Uptime — Chainlink Keepers are run by the same professional DevOps teams that have an established on-chain performance history of providing highly reliable data to Chainlink Price Feeds during extreme network congestion and market volatility.
- Low Costs — Chainlink Keepers have several gas-optimizing features that lower the costs of automating maintenance tasks for users, including a rotating node selection process to prevent gas price auction wars and stabilize costs.
- Decentralized Execution — Chainlink leverages a decentralized and transparent pool of Keepers to help provide strong guarantees around secure contract automation, saving teams time and mitigating the risks around manual interventions or centralized servers.
- Expandable Computation — Chainlink Keepers perform off-chain computations and generate calldata verifiable by smart contracts, allowing developers to build advanced, trust-minimized dApps at lower costs.
“Prosper will keep working with various Chainlink solutions to expand and improve Keepers use cases, offloading more of dApp functionality to a decentralized automation network maintained by the highly tested and secure Chainlink Network. Ultimately, we see this as a crucial step in providing our users with an end-to-end trustless prediction market experience.”
Prosper CTO Ivan Smirnov
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.
Prosper is a non-custodial cross-chain prediction market and hedging platform, and allows for people to make money off of their correct predictions about the outcomes of various events. Prosper’s platform includes interoperability elements from different networks across the blockchain ecosystem. Prosper is developing a unique technological infrastructure of on-chain liquidity aggregation to solve problems within the overall prediction and prediction markets.