Greetings Prophets! Hope everyone is having a great start to 2021 so far.
We wanted to give a quick update of what’s to come over the next few weeks, as we’ve been working quietly behind the scenes to push the project forward.
The Offertory 2.0 dAPP — Automated Decentralized Lottery Using Chainlink’s VRF Oracles
About a month ago, our community ran the first trial version of the Offertory, a decentralized lottery game where everyone gets their initial deposit back.
The idea behind the Offertory is to create a win-win lottery game that benefits everyone:
- The lottery winner earns a good chunk of PROPHET
- Losers get their initial deposit back less tax fees
- Prophet holders earn passive yields from lottery transactions
Now, we’ve successfully automated the game on-chain using Chainlink’s VRF (Verifiable Random Function) Oracle, which allows for 100% random drawings.
This dApp gives Prophet’s fictionless yield generation mechanism an actual use case rather than simply being another “RFI fork”, most of which have died out by now because of the lack of innovation and actual development.
The Offertory dApp is set for official launch by the end of this week or possibly early next week depending on the results from the audit.
More details will be announced as we get closer to the end of the week.
Leveraging The Offertory dApp To Create New Partnership Opportunities
Rather than simply launching the Offertory internally to the Prophet community only, we wanted to leverage the idea to create partnerships with other DeFi projects.
The game has been proven to drive up buy pressure and transactional volume, something that could benefit many projects.
That’s why we are exploring partnership opportunities with other DeFi projects who want to host their own decentralized lotteries for their communities.
Prophet will allow other projects to host lotteries on the dApp using their native tokens. In return, Prophet will take a small fee from the prize pool, which will be added to the DAO Treasury funds.
Prophet x Trinity Partnership Details
Our first partnership for the Offertory app will be Trinity. We will help create a custom white label version of the app where users can buy tickets with TRI for a chance to win TRI. Part of the TRI prize pool for their lotteries will be transferred to the Prophet DAO Treasury.
In exchange, the Trinity will audit our contracts through their auditors, so we can verify the code as “safu” before securing other partnerships.
In addition, Prophet will be one of the first partners to launch on Trinity’s Genesis Launchpad platform. This will give Prophet additional liquidity as users can add liquidity to TRI-PROPHET to earn both TRI and PROPHET.
More details will come as we get closer to launch.