LE7EL.com, a new game platform aiming to become the #1 trusted brand among the rapidly growing number of mainstream crypto users, is excited to announce our live mainnet integration with market-leading oracle solution Chainlink. Initially, LE7EL will leverage Chainlink’s Verifiable Random Function (VRF) to access a secure, provably fair source of true randomness to determine outcomes in its first game «L7L Random 2X», where players can double their stakes and earn L7L tokens by betting on whether Chainlink VRF selects «Blue» or «Green» after a 24-hour countdown. Additionally, the Chainlink Alarm Clock is used to enable the 24 hour countdown on-chain.
The LE7EL platform provides access to leveraged betting, trading, and gaming products and has set itself to be forever 100% decentralized, permissionless, and immune to data manipulation. After a successful launch of its first product, LE7EL will look to integrate additional Chainlink solutions, using the Chainlink Network as the preferred oracle provider in all upcoming products under the LE7EL brand.
Why we selected the Chainlink Network
As a smart contract-based platform, LE7EL requires a blockchain oracle to access off-chain data needed to execute critical on-chain functions, such as random data inputs to resolve game outcomes in a transparent and verifiable way. Since this information is not natively generated on the blockchain in a secure and reliable manner, we needed a blockchain oracle to bridge this data on-chain.
After considering various Random Number Generator (RNG) solutions, we identified Chainlink VRF as the most optimal RNG solution in the market for smart contracts, as it enables LE7EL to access on-chain randomness without compromising on security or usability. Additionally, each random number created by Chainlink VRF is delivered on-chain by Chainlink oracles with an associated cryptographic proof, which definitively verifies the integrity of the source of randomness as being generated in a fair and tamperproof manner. The proof is published and verified on-chain before it can be used by any consuming applications, providing users with unparalleled transparency into how the source of randomness was generated. This process ensures that the results cannot be tampered with or manipulated by anyone, including the oracle operators, miners, users, and even LE7EL developers.
By using Chainlink VRF, LE7EL is able to create a reliable yet trustless environment where users can have fun using our products with minimal counterparty risk. We are excited to now by leveraging Chainlink VRF in LE7EL and look forward to additional integrations with Chainlink in the future for any number of different off-chain datasets and resources.
“Chainlink VRF provides LE7EL with a secure and transparent way to use randomness as a means to augment in-game functions in a manner that users can independently verify as being fair and unbiased, “said Steve Johnson, Co-Founder of LE7EL. “This brings unprecedented transparency to the gaming industry, especially with randomness being such a critical component to many in-game actions. Having definitive proof via Chainlink VRF that random events are indeed truly random, brings integrity to assets issued by gaming applications, which should spark a real acceleration in development and adoption of on-chain gaming economies.”
Chainlink is the most widely used and secure way to power universal smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
LE7EL.com is a new platform that aims to become the leading brand for leveraged gaming, betting and trading products among the rapidly growing number of mainstream crypto users.
The market for professional leveraged products is several billion USD a year and growing rapidly. The non-professional market is estimated to become even bigger, due to the fact that most people haven’t started to use crypto yet. Adding to this, due to regulatory factors, the volume is gradually shifting from centralized platforms to decentralized platforms like LE7EL.
As millions of people are onboarded to crypto in the coming years, LE7EL aims to be in a position to capture this growth to the fullest.