Collaboration With Prophet.finance — Decentralized Lottery Game Using Chainlink VRF Oracles
We are thrilled to announce our latest partnership collaboration with Prophet.finance to launch an automated and decentralized verifiable-random lottery game for TRI holders.
The purpose of the lottery game is to create on-going buy pressure and volume for Trinity while keeping the community active and engaged.
What is PROPHET?
In a nutshell, Prophet was the first fork of Reflect.finance (RFI) that later spawned a dozen clones. Prophet introduced the concept of an adjustable yield-rate and deflationary token supply. Since then many projects (such as R34P) have forked PROPHET to create their own frictionless yield generation tokens.
However, what makes PROPHET unique among the countless clones and forks is they’ve given the token a use case by building decentralized games on the protocol. This is why they’re still around while most other RFI-clones have died.
Prophet successfully created an on-chain risk-free lottery called “The Offertory” in which participants enter for a chance to win tokens with no risk to their underlying capital.
How is it possible to have a no-loss lottery?
Because by taking advantage of the protocol’s frictionless yield generation features, the winners receive the yield generated from the prize pool, while losers get back what they put in.
Now, Prophet has automated this game by coding it into smart contracts and using Chainlink’s VRF (Verifiable Random Function) Oracle to decide on winners. This means the game can “run itself” with minimal manual intervention, allowing for constant buy pressure and volume.
Prophet and Trinity Partnership Details
Prophet has agreed to help us create an exclusive version of the Offertory lottery game for Trinity.
This means soon, the Trinity community will have our own version of the lottery where anyone can buy in for a chance to win part of the prize pool of TRI tokens. A small portion of the prize pool will be sent to the Prophet treasury.
How will this collaboration benefit Trinity?
- Lottery tickets can only be purchased by market buying TRI and locking it up in the contract for the duration of the lottery — this creates more “buy and hold” pressure for TRI
- The app uses Chainlink’s VRF oracles which they are publicly promoting right now. This means LINK is likely to tweet about our project
- Purchasing lottery tickets creates more network volume, which gets distributed to holders
- The decentralized lottery app helps attract new members into our community, while building a stronger community
In exchange for creating a whitelabel version of the lottery app for Trinity, we will be giving them access to our auditor to ensure the app is 100% secure and safe.
In addition, Prophet will be one of our first Genesis partners so there will be a TRI-PROPHET pair at some point where liquidity providers can earn TRI and PROPHET through yield farming.
More details will come as we get closer to launch.
Trinity Website: https://www.trinityprotocol.io
Inner Tribe Telegram Group (for hodlers of 25,000 $TRI or more): https://telegram.me/collablandbot?start=reclvL99AX9G7VWpM_-tpc