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Planet Finance Using Chainlink VRF and Price Feeds for Secure Launch of Green Planet and GAMMA token

Planet Finance is excited to announce that we integrated Chainlink Verifiable Random Function (VRF) to run a successful airdrop snapshot of GAMMA tokens. We also integrated Chainlink Price Feeds to access time-tested exchange rates needed to price assets on Green Planet — Planet Finance’s new lending and borrowing protocol.

We selected Chainlink because it’s the industry standard decentralized oracle network, offering cutting-edge oracle solutions for smart contracts needing premium off-chain data and secure off-chain computation services. Chainlink Price Feeds already help secure more than $70 billion in total value locked (TVL) for leading DeFi protocols, while Chainlink VRF is widely adopted by top NFT and gaming projects needing verifiable randomness for fair airdrops, raffles, loot boxes, and more. Both of these solutions were needed for a secure launch of Green Planet, as well as the fair distribution of GAMMA tokens.

Leveraging Chainlink VRF to Pick a Random Block Snapshot A key piece to driving widespread adoption of Planet Finance’s DeFi ecosystem was our recent airdrop of GAMMA tokens, which were awarded to AQUA token holders with at least 1 AQUA token in their wallet during the snapshot. The snapshot was randomized and eventually ended up occuring at block number was 12092601 on October 26, 2021 at 12:29:28 AM +UTC. Users can find proof of the airdrop snapshot process on the BSC testnet here.

In order to pick an airdrop snapshot in a provably random and fair manner, we needed 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 t...

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