Sperax using Chainlink VRF for fair distribution in a series of massive airdrops
Sperax — a blockchain company building algorithmic crypto-collateralized stablecoins denominated in USD on top of its BDLS public blockchain — is using Chainlink Verifiable Randomness Function (VRF) live on the Ethereum mainnet to select random block heights in a provably secure and fair manner.
These randomly selected block heights will determine the times at which upcoming airdrops to SPA holders on Ethereum will take place, happening between February and March 2021. Our use of Chainlink VRF comes in addition to our planned Chainlink oracle integration on the Sperax blockchain announced last fall.
We selected Chainlink VRF because it’s a verifiable random number generation (RNG) solution. It generates a random number and cryptographic proof using a user supplied seed 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 Sperax team, Chainlink oracle, or outside entities cannot tamper, predict, or influence the outcome, bringing verifiable fairness and transparency to our airdrops.
There will be three rounds of airdrops every two weeks starting on February 26. Please see here for detailed instructions on how to claim your airdrops.
To ensure fairness, Sperax will generate a random block height via Chainlink VRF two days before each airdrop round. Once a random blockchain height is generated, the number is verifiable by anyone on this smart contract. Thus, Chainlink serves as a mechanism for further decentralizing the governance power of the Sperax project by airdropping SPA tokens to SPA token holders at random time intervals.
“Furthering our use of Chainlink to include an novel VRF integration ensures that Sperax’s upcoming series of massive airdrops will offer a truly transparent and fair distribution process in which all community members can verify the integrity of the process themselves.” — Sperax Cofounder Frida Cai.
Founded in 2019, Sperax is missioned to connect all with its modern money platform. Sperax provides a hybrid stablecoin, USDs, on top of its BDLS public blockchain. A combination of crypto-collateralized stablecoins and dual token algorithmic stablecoins, USDs is a highly scalable, trustless and decentralized stablecoin that operates fully on-chain. USDs serve both purposes of wealth preservation and passive income generation. Sperax is backed by Outlier Ventures and FBG Capital.
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.
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