RuffRaffle (RUFF) API and Price Oracle

RuffRaffle

RUFF
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0xd3B6...6B97
Network
Blockchain network where the asset is deployed
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BinanceSmartChain
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is RuffRaffle (RUFF)?

RuffRaffle (RUFF) is an Ethereum-based decentralized lottery platform. It aims to provide a fair and transparent way for users to participate in lotteries using blockchain technology. RuffRaffle was founded in 2021 by a team of developers and the founding company is not disclosed. The name "RuffRaffle" is derived from the words "ruff," meaning rough and simple, and "raffle," referring to a game of chance.

How does RuffRaffle work?

RuffRaffle is a decentralized raffle platform that utilizes blockchain technology to ensure fairness and transparency. The underlying technology behind RuffRaffle is based on smart contracts, which are self-executing contracts with predefined rules and conditions that automatically execute transactions when those conditions are met.

RuffRaffle operates on the Ethereum blockchain, one of the most popular blockchain networks for decentralized applications. Ethereum provides a secure and reliable environment for the execution of smart contracts.

The functioning of RuffRaffle can be summarised in a few steps:

1. Raffle Creation: A user creates a raffle by specifying the details such as the number of tickets, price per ticket, and the end date for ticket sales.

2. Ticket Purchase: Participants can then purchase raffle tickets by sending the required amount of cryptocurrency (usually Ether) to the smart contract address. Each ticket is associated with a unique token ID.

3. Smart Contract Execution: Once the ticket sales period ends, the smart contract randomly selects a winning ticket using a provably fair algorithm. This ensures that the selection process is transparent and cannot be manipulated.

4. Prize Distribution: The winner is automatically notified, and the prize is distributed to their wallet address. The entire process is recorded on the blockchain, making it immutable and auditable.

By leveraging blockchain technology, RuffRaffle eliminates the need for trust in a centralized entity and ensures that the raffle results are tamper-proof. Participants can have confidence in the fairness of the raffle and trust that the prize distribution will be handled automatically by the smart contract.

What are the benefits of RuffRaffle?

RuffRaffle offers several benefits compared to its direct competitors in the blockchain raffle space. Firstly, RuffRaffle boasts a high level of transparency due to its utilization of blockchain technology. By leveraging the immutable nature of the blockchain, RuffRaffle ensures that all transactions and ticket entries are recorded and can be verified by participants. This transparency eliminates any potential for fraud or manipulation, enhancing trust and credibility within the raffle process.

Additionally, RuffRaffle's use of smart contracts provides increased security and efficiency. Smart contracts automatically execute predetermined actions once certain conditions are met, streamlining the entire raffle process and eliminating the need for intermediary parties. This not only reduces the chances of human error but also minimizes costs and delays associated with third-party involvement.

RuffRaffle also stands out with its decentralized nature. As a decentralized platform, RuffRaffle operates without reliance on a central authority or entity, ensuring that no single party has control or influence over the raffle outcomes. This decentralized approach enhances fairness and eliminates biases that may exist in centralized systems.

Compared to its direct competitors, RuffRaffle's focus on transparency, security, efficiency, and decentralization sets it apart. These unique features provide participants with a trustworthy and reliable platform to engage in raffles, ensuring that the process is fair, secure, and accessible to all.

What is RuffRaffle used for?

RuffRaffle is a blockchain-based platform that is primarily used for conducting raffles. It provides a transparent and secure way to organize and participate in raffle events, eliminating the chances of fraud or tampering.

Common use cases for RuffRaffle include charity events, fundraising campaigns, giveaways, and promotional activities. By leveraging the blockchain technology, RuffRaffle ensures that the entire process is verifiable and fair.

One specific case where RuffRaffle can be particularly useful is in the gaming industry. Online gaming companies often organize raffles as a way to engage with their community and reward loyal players. RuffRaffle can offer a decentralized and transparent solution for these gaming companies to host raffles, ensuring fairness and creating trust among the participants.

For instance, a gaming company could use RuffRaffle to conduct a raffle where players have a chance to win exclusive in-game items or merchandise. By leveraging the transparency of the blockchain, participants can verify that the raffle results were not manipulated, providing a sense of trust in the process.

Overall, RuffRaffle provides a secure and transparent solution for organizing raffles, with various use cases in fundraising, promotions, and gaming. It offers an efficient and trustworthy way to conduct these events, ensuring fairness and building trust among participants.

What is DIA's RuffRaffle API?

DIA's RuffRaffle API is an important component of their comprehensive API offering. DIA provides real-time price feeds for various crypto assets through their API endpoints. These price feeds are generated by sourcing raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, utilizing billions of individual trades. This extensive data collection allows DIA to deliver a level of accuracy and reliability that sets them apart from other web3 data providers.

While DIA offers free API endpoints for developers to test, their custom feeds are where the true value lies. These custom API data feeds can be tailored to meet specific requirements, offering flexibility in terms of sources, methodologies, update mechanisms, and more. For users who need a custom configuration for their feed, DIA builds dedicated API price feeds. To request a custom feed, users can reach out to DIA via Discord or Telegram.

The use cases for DIA's API are extensive and varied. The price information provided by their API can be utilized in numerous applications within the blockchain ecosystem. In the DeFi space, it can be applied to derivatives, options, futures, lending and borrowing markets, collateralized stablecoins, money markets, and more. Additionally, in the NFTfi domain, it can support peer to pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other innovative use cases.

In summary, while DIA offers free API endpoints for testing purposes, their custom feeds are where the true power of their API lies. These custom feeds can be tailored to meet specific requirements and offer a wide range of applications within the blockchain ecosystem, empowering developers to create innovative solutions. To learn more about DIA's API and access their free and custom feeds, developers can visit the DIA App and explore the asset detail pages.

What is DIA's RuffRaffle price oracle?

DIA's RuffRaffle price oracle is a vital component of their offerings. It is a smart contract that provides real-time price feeds of various crypto assets. DIA boasts integration with 35+ layer 1 and layer 2 networks, allowing the deployment of price oracles in multiple blockchains. These oracles are crafted by aggregating raw data from over 85 on-chain and off-chain exchanges, enabling DIA to deliver unparalleled accuracy and reliability.

While DIA provides free demo oracles for developers to test, these are strictly for experimental purposes and cannot be used in production applications. However, DIA offers the flexibility to develop custom price oracle data feeds. These custom feeds can be tailored to meet specific requirements, including source selection, methodologies, and update mechanisms. To request a custom feed, interested parties can reach out to DIA via Discord or Telegram.

The applications of DIA's price oracles span the blockchain ecosystem. In the DeFi space, uses range from derivatives and lending markets to collateralized stablecoins and synthetic asset issuance. Likewise, NFTfi applications like peer-to-pool NFT lending and on-chain derivatives can greatly benefit from DIA's price information.

To understand the significance of DIA's offerings, it's crucial to grasp the concept of a blockchain oracle. A blockchain oracle is an external information provider that brings verified data from outside the blockchain to smart contracts. This ensures the execution of on-chain actions based on real-world information while preserving the integrity and security of blockchain technology.

Overall, DIA's custom oracles provide users with tailored and reliable price feeds, enhancing the utility and versatility of their offerings.

Why use DIA's RUFF API & price oracle?

DIA's RUFF API and RUFF Price Oracle offer numerous benefits for users in the blockchain ecosystem. These technologies provide access to accurate and reliable price data for cryptocurrencies and NFTs. One key advantage of using DIA's API or Price Oracle is the high level of customization available. Users can tailor each oracle and API endpoint to meet their specific needs, allowing for configuration settings such as data sources, data cleaning filters, pricing methodologies, and update mechanisms. This ensures that the data and oracle remain robust and resilient in varying market conditions, providing global market as well as specific individual or cross-chain market prices.

Transparency is another significant benefit provided by DIA's API and Oracle feeds. Users can experience full and granular transparency throughout the entire data journey. Additionally, DIA offers tracking and monitoring tools to closely monitor its oracle and API feeds.

By leveraging DIA's technology, users can access accurate and customizable price data while enjoying the benefits of transparency and monitoring tools. Whether you are a decentralized application developer or an investor in the blockchain space, DIA's RUFF API and RUFF Price Oracle can provide you with the necessary tools to make informed decisions in the ever-changing world of cryptocurrencies and NFTs.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.