OnChainMonkey—an innovative NFT project that was the first profile picture (PFP) collection created completely on-chain in a single transaction—has integrated Chainlink Verifiable Random Function (VRF) on Ethereum mainnet. OnChainMonkey is the first NFT collection by Metagood founded by crypto industry veterans Bill Tai, Danny Yang and Amanda Terry. By integrating the industry-leading decentralized oracle network, OnChainMonkey now has access to a tamper-proof, transparent, and auditable source of randomness needed to ensure the fair distribution of our Dessert NFTs to the OCM community. Ultimately this creates a more exciting, transparent, and fraud-proof user experience as users have verifiable assurances that they all have a fair and equal chance in the OCM Dessert airdrop.
On February 1, 2022, OCM took a snapshot of all users with an OCM Genesis token. Each token corresponds to a single Dessert NFT based on the snapshot. Desserts will be needed by OCM Genesis holders to get an OCM Karma, a new collection in the OCM ecosystem. There are three types of Desserts with varying rarity. Each type of Dessert will result in a corresponding type of OCM Karma. Because the rarer Desserts are likely to be valued higher by users (as they result in more rare OCM Karmas), it’s critical that the distribution is transparent and fair.
To accomplish this, the OnChainMonkey team 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 the integrity of the process.
After reviewing various solutions, the OnChainMonkey team selected Chainlink VRF because it’s based on cutting-edge academic research, supported by a time-tested oracle network, and secured through the generation and on-chain verification of cryptographic proofs that prove the integrity of each random number supplied to smart contracts.
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 OnChainMonkey 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 the Dessert Airdrop is provably fair and was not tampered with by the oracle, outside entities, or the OnChainMonkey team.
“Chainlink is the industry standard for secure off-chain data and computation services. One of these is Chainlink VRF, which helps ensure fair, on-chain randomization through a verifiable random number generator, ” said Danny Yang, CEO of Metagood, the team behind OnChainMonkey. “We’re using Chainlink VRF in our Dessert drop for this specific purpose, but we plan to integrate more Chainlink products for future smart contract projects, including our OCM DAO.”
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.
Launched by Metagood, OnChainMonkey is the first non-fungible token (NFT) profile picture collection created on-chain in a single transaction. The collection of 10,000 randomly generated NFTs is led by an experienced team, including CEO Danny Yang who founded Taiwan’s largest cryptocurrency exchange, COO Amanda Terry who served as a digital media business development executive at Twitter and NBC, and Chairman Bill Tai, an legendary venture capitalist who was the first investor in Zoom and early investor in Wish, Canva, Dapper Labs and over 20 companies that have become publicly listed. OnChainMonkey is a for-profit NFT collection that strives to “do good and do well,” providing value to token holders while also using its success to give back to various nonprofits and charitable causes. To learn more about OnChainMonkey, visit https://onchainmonkey.com/.