Poolz Integrates Chainlink VRF on Mainnet for Fair and Unbiased Whitelisting of Investors

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Poolz Admin

Poolz Admin

We have always aimed for Poolz to be the frontrunner in decentralizing how every process from pre-listing liquidity auctions to project management is carried out. In a bid to strengthen our decentralization initiatives, we have successfully integrated on mainnet with the market-leading oracle network Chainlink in order to access their Verifiable Randomness Function (VRF) — a secure, on-chain random number generator that users can verify as being a fair, tamperproof, and unbiased source of randomness. Chainlink VRF will enable Poolz to select participants allowed to invest in the projects listed on the Poolz platform in a truly random and automated manner, which neither the Poolz team nor external entities can influence.

Whenever a project is listed on Poolz for pre-sale, there will often be huge demand from investors. However, the token allocation may be relatively small in comparison to the demand. Given our commitment to a fully decentralized process, we do not intend to manually cherry-pick investors who can or cannot invest in a particular project. We believe that doing so would make the platform centralized, as the Poolz team will have the power to choose who invests in what projects.

By leveraging Chainlink VRF, we can obtain a secure and provably fair source of randomness used to generate unpredictability within the Pools whitelisting process. Uniquely, this process is all verifiable on-chain by anyone via cryptographic proof. This is key since all users can independently confirm that the randomness was generated without tampering.

Hence, this is why Poolz will utilize Chainlink VRF to randomly select investors from a list of all applications and whitelist them for investing in a project.

By truly randomizing the selection of investors, we will ensure that the opportunities for investment are completely free of bias toward any project or investor.

About Poolz

Poolz is the leading decentralized fundraising platform enabling crypto’s most innovative projects to kick start their journey and grow their communities. Poolz allows its users to make research-based decisions to participate in high-potential IDOs, NFT sales, and Gaming projects.

Poolz aims to be a multi-chain platform and currently, users can participate in IDOs and NFT sales on Ethereum, BNB Chain, Polygon, Celo, and Avalanche, with many more to come.

Stay tuned for more upcoming IDOs

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