CUE Protocol is Integrating Chainlink Price Feeds and Chainlink VRF
We’re excited to announce that CUE Protocol — an IDO Launchpad and NFT marketplace — is integrating Chainlink Price Feeds and Chainlink Verifiable Random Function (VRF) on Binance Smart Chain. By integrating the industry-leading decentralized oracle network, CUE Protocol will have access to high-quality, tamper-proof price feeds and a verifiably tamper-proof source of randomness, both of which are necessary to running various games and pricing assets on-chain.
We chose Chainlink as our go-to oracle solution because its infrastructure is seamless to integrate and time-tested in production. Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value, maintaining robust security and high availability even amidst unexpected events, such as exchange downtime, flash crashes, and data manipulation attacks via flash loans.
CUE Protocol is a gaming and NFT marketplace on Binance Smart Chain that recently launched an IDO launchpad for games and projects looking to create exciting launch experiences alongside CUE’s gaming offerings. The most notable parts of the Chainlink integration will include:
Chainlink Price Feeds:
- NFT MarketPlace V2 — to list NFTs in USD value yet enable payment in BNB based on real-time exchange rates.
- CUE Launchpad — to support participation in different cryptocurrencies
- Luck Draws — to peg the price of tickets to USD
- Prediction Games — to settle markets at expiry
- Lucky Draws — to select random winners
- Prediction Games — to choose random winners in contests
- NFT MarketPlace V2 — to determine the contents of mystery loot boxes and outcomes of lucky dip minting.
- CUE Launchpad — to distribute allocations to users in IDOs when demand exceeds supply
We selected Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data — Data is sourced from numerous premium data aggregators like BraveNewCoin and Kaiko, leading to volume-adjusted global market prices with robust market coverage.
- Reliable Nodes — Price feeds are secured by a decentralized network of independent, security-reviewed, Sybil-resistant oracle nodes run by leading blockchain DevOps teams with a proven history of hyper-reliability.
- Decentralized Infrastructure — Both the data sourcing and transmission on-chain are decentralized, removing any central point of failure
- Reputation System — Chainlink provides a robust reputation framework and set of on-chain monitoring tools that allow users to independently verify the historical and real-time performance of node operators and oracle networks.
Additionally, we opted for Chainlink VRF because it’s easy to integrate and backed by open-source code and cryptographic proofs that verify its integrity.
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 CUE 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 CUE games are provably fair and were not tampered with by the oracle, outside entities, or the CUE team.
“Integrating both Chainlink Price Feeds and Chainlink VRF makes sense from a developer standpoint as it provides highly secure and precise data and verifiably, tamper-proof RNG for our various products. This greatly reduces the complexity of maintaining our own solutions, empowering CUE developers to focus on building engaging and fun games and marketplace products.” –Steven Dillon, CUE Protocol CEO
These Chainlink integrations are an excellent step for CUE Protocol and provide our ecosystem with robust feature enhancements to ensure we stay on top of our game.
Stay tuned for many more integrations in the future.
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.
About Cue Protocol
CUE Protocol is a governance and a community-driven project powered by its own token and Dapp ecosystem including DeFi.
Launched in March 2021, we have brought many things to our community and continue to build our ecosystem with new products and utilities.
The CUE Protocol vision is to create an entire ecosystem of Binance Smart Chain products to allow investors and users to have a great experience in one place.