Fintech Staff Writer
Decentralized and overcollateralized, Nuon will go live on the leading Ethereum scaling solution, Arbitrum.The Nuon Protocol launched its mainnet for the NUON flatcoin which is the world’s first cryptocurrency linked to an unbiased cost of living index. Unique features of the Nuon Protocol will include automated security liquidity pools and Nuon Liquid Position (NLP) Dynamic NFTs, as well as real-time transparency using Chainlink’s Proof Of Reserve, and independent audits by CoinFabrik. Nuon is also a member of the Chainlink BUILD ecosystem.The Nuon flatcoin will launch on Arbitrum One, a Layer 2 Ethereum Virtual Machine (EVM) compatible blockchain that has drawn praise for its fast transaction speeds, strong security and dynamic applications that are bringing new solutions to the world of decentralized finance.The Nuon Protocol is seeking to build the future of money, while decoupling from national currencies managed by central bankers in an environment where inflation has hit 40-year highs.
The concept of a flatcoin has been frequently discussed by crypto founders like Brian Armstrong, Balaji S. Srinivasan and Vitalik Buterin, who have commented that crypto should prepare to de-peg from overreliance on any one fiat asset to reduce concentration and regulatory risks. Rather, it has been suggested that a flatcoin should peg its value to an independent measure of the cost of living, or an unbiased inflation index.
Nuon addresses this by providing a stable crypto asset not linked to a depreciating fiat currency like the US dollar. Instead, the value of a Nuon flatcoin is based on daily and independently verifiable inflation data. Indeed, Nuon is the only flatcoin that is twice removed from government monetary systems through its decentralized design and unbiased inflation peg data.Following a successful testnet phase, the Nuon mainnet launch will be “guarded” according to conservative risk parameters. This means that the number of users, asset types and total value locked on the protocol will be managed and capped during the first month. Liquidity and additional yield will be provided on SushiSwap.
