We’re excited to announce that 0bOptions — an automated prediction market — has integrated Chainlink Keepers on Polygon mainnet. We are leveraging Chainlink Keepers to securely and cost-efficiently automate the 5-minute cycles of our prediction rounds. As a result, each user will have a smooth, fast, and simple experience using 0bOptions.
We decided to decentralize 0bOptions’ sequencing function using Chainlink Keepers because it is operated by the same pool of time-tested, provably reliable node operators that currently help secure tens of billions of dollars in DeFi, even during record levels of network congestion and extreme volatility. The proven infrastructure of Chainlink helps ensure that every round’s beginning and end is executed on time in a trust-minimized manner.
0bOptions is a decentralized prediction market where users can make predictions on token prices every 5 minutes, and win if their prediction is correct. Some users will believe that the price will go up, some will believe that it will go down, and at the end of the round, the winning users receive a share of the total pooled amount.
Chainlink Keepers was essential to our dApp as we needed a decentralized process to consistently execute a specific function every 5 minutes as reliably and safely as possible. This is important as we want the final price of a prediction round to be as close to the end of the 5-minute time period as possible.
Chainlink Keepers is a decentralized service purpose-built to manage tasks on behalf of smart contracts. Chainlink Keepers serve as decentralized, hyper-reliable, and economically incentivized automation bots that wake up smart contracts when they need to perform critical on-chain functions, which usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when an asset hits a specific price).
Some of the notable features of Chainlink Keepers include:
Decentralized Execution — Chainlink Keepers provide reliable, trust-minimized automation with no single point of failure, mitigating risks around manual processes and centralized servers.
Increased Efficiency — Projects that use Chainlink Keepers are able to reduce time spent on DevOps, minimize operational overhead, and streamline development workflows.
Enhanced Security — Chainlink Keepers sign on-chain transactions themselves, enabling automated smart contract execution without exposing private keys.
Reduced Costs — Chainlink Keepers perform efficient off-chain computation for smart contracts, allowing developers to build feature-rich dApps at lower costs.
We are currently using Chainlink Keepers to optimize the automation of our smart contract and Chainlink Price Feeds to help provide highly reliable and transparent pricing for our prediction market. We are currently using the ETH/USD Price Feed, but as our community grows, we will rapidly add new tokens and expand to other chains.
“We wanted the most transparent, efficient, and reliable automation solution available to help reassure our community that the protocol would keep working exactly as intended. Chainlink Keepers are the most reliable smart contract automation solution in the Web3 space, so it made sense to integrate them into our dApp.” — Gianni-Alessandro, NGAMY
About Chainlink
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 0bOptions