Lamas Finance Selects Chainlink Price Feeds to Help Secure Its Prediction Games
We’re excited to announce that Lamas Finance — a hybrid ecosystem that combines blockchain gaming and DeFi — is integrating Chainlink Price Feeds on Solana. By integrating the industry-leading decentralized oracle network, Lamas Finance will have access to high-quality, tamper-proof price feeds needed to help start, end, and calculate user results in each stage of prediction games. High-quality market data from Chainlink Price Feeds will help ensure that Lamas’ games are transparent, accurate, and fair for all users.
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.
Launched on Solana, Lamas Finance is a GameFi ecosystem with a core mission to provide users with a redefined blockchain gaming experience full of novel DeFi functions and earning potential. All games by Lamas Finance are true dApps, meaning the logic and calculations underpinning the games are executed on-chain via smart contracts. Lamas Finance strives to continue meeting users’ diverse demands to become a leading blockchain game on Solana.
Currently, Lamas Finance features four games: Price Prediction, Up or Down, Jackpot Lottery, and Lucky Spinner. The first two are prediction games involving the price of an asset, with payouts proportionate to a players’ forecasting accuracy.
In order to help fairly determine the outcomes for these two games, we need access to fresh asset prices that are supplied directly on-chain in a highly reliable manner. Fair market asset prices should reflect a volume-weighted average from all trading environments. Thus, we needed to make use of an oracle network to fetch aggregated price data off-chain and deliver it on-chain to be consumed by our application.
After reviewing various oracle solutions, we selected Chainlink Price Feeds because they provide a multitude of critical features such as:
- High-Quality Data — Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by volume, and cleaned of outliers and wash trading. Chainlink’s data aggregation model generates more precise global market prices that are inherently resistant to inaccuracies or manipulation of any single or small set of exchanges.
- Secure Node Operators — Chainlink Price Feeds are secured by independent, security-reviewed, and Sybil-resistant oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises. Chainlink nodes have a strong track record of reliability, even during high gas prices and infrastructure outages.
- Decentralized Network — Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or oracle network.
- 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.
Apart from that, Chainlink is currently supporting many different blockchains, making it the perfect solution for our plans to develop multichain products in the future.
Thankfully, Chainlink Price Feeds are available on multiple different blockchains, enabling Lamas to seamlessly and securely transition to the multichain ecosystem. Furthermore, the Lamas team plans to integrate Chainlink VRF when it launches on Solana. Chainlink VRF is another outstanding decentralized service that brings a tamper-proof source of randomness to smart contract applications. Lamas plans to use Chainlink VRF in its Jackpot Lottery and Lucky Spinner games to help ensure both games are verifiably fair to all users.
“Chainlink Price Feeds maximize our user experience and help us create a sustainable GameFi ecosystem. Accurate and uninterrupted high-speed market data is a core feature of Lamas Finance games, and Chainlink Price Feeds are the most reliable solution in the blockchain industry.
Quang Nguyen, Founder of Lamas Finance.
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.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.
About Lamas Finance
Lamas Finance is a Gamefi ecosystem with its core mission is to provide users with an experience of true blockchain games as well as other Defi key functions by which they can earn profit and bonuses. Developed on Solana, each of the Lamas Finance games is a genuine Dapp: all computations are performed on the blockchain via smart contracts.