Cost of living-linked cryptocurrency launches on Arbitrum

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HONG KONG, Feb. 2, 2023 /PRNewswire/ — The Nuon Protocol has introduced the launch of its mainnet for the NUON flatcoin: the world’s first cryptocurrency linked to an unbiased price of residing index. Decentralized and overcollateralized, Nuon will go dwell on the main Ethereum scaling resolution, Arbitrum.

The idea of a flatcoin has been steadily mentioned by crypto founders like Brian Armstrong, Balaji S. Srinivasan and Vitalik Buterin, who’ve commented that crypto ought to put together to de-peg from overreliance on anybody fiat asset to cut back focus and regulatory dangers. Fairly, it has been steered {that a} flatcoin ought to peg its worth to an unbiased measure of the price of residing, or an unbiased inflation index.

Nuon addresses this by offering a steady crypto asset not linked to a depreciating fiat foreign money just like the US greenback. As an alternative, the worth of a Nuon flatcoin relies on day by day and independently verifiable inflation knowledge. Certainly, Nuon is the one flatcoin that’s twice faraway from authorities financial programs by its decentralized design and unbiased inflation peg knowledge.

Distinctive options of the Nuon Protocol will embody automated safety liquidity swimming pools and Nuon Liquid Place (NLP) Dynamic NFTs, in addition to real-time transparency utilizing Chainlink’s Proof Of Reserve, and unbiased audits by CoinFabrik. Nuon can be a member of the Chainlink BUILD ecosystem.

The Nuon flatcoin will launch on Arbitrum One, a Layer 2 Ethereum Digital Machine (EVM) appropriate blockchain that has drawn reward for its quick transaction speeds, robust safety and dynamic purposes which might be bringing new options to the world of decentralized finance.

Arbitrum’s Chief Advertising Officer, Andrew Saunders, says “As the primary flatcoin on Arbitrum One, we’re excited to welcome Nuon into our sturdy and collaborative ecosystem. Nuon brings a completely new alternative to life for our neighborhood to attach on to an inflation index, and we hope to see Nuon speed up with Arbitrum and scale in a safe and environment friendly method.”

Following a profitable testnet part, the Nuon mainnet launch can be “guarded” in accordance with conservative danger parameters. Because of this the variety of customers, asset varieties and whole worth locked on the protocol can be managed and capped through the first month. Liquidity and extra yield can be offered on SushiSwap.

Commenting on the launch, CEO of Nuon Stefan Rust added: “Simply as decentralized protocols are the reply to dangers posed by centralized currencies, and over-collateralization is the reply to sustaining worth within the face of market instability, inflation-proof flatcoins are the answer to preserving worth over time.

“Our imaginative and prescient for Nuon – inflation-proof cash – is formidable to say the least,  and we see Arbitrum’s infrastructure as an necessary step in the direction of making Nuon a ubiquitous medium of change” “

The Nuon Protocol is searching for to construct the way forward for cash, whereas decoupling from nationwide currencies managed by central bankers in an atmosphere the place inflation has hit 40-year highs. 

Unbiased flatcoins have the chance to affix the ranks of different digital property like Bitcoin, offering people and establishments with financial options outdoors of fiat currencies. This stage of innovation will add the preservation of buying energy to the vary of capabilities already accessible contained in the crypto area.

About Nuon

Nuon is the world’s first unbiased flatcoin. The subsequent-generation steady property, Nuon is an inflation-resistant coin pegged to an unbiased price of residing index that protects your buying energy from the lack of worth brought on by inflation. Nuon provides again financial sovereignty and powers the inflation-proof financial system for the individuals by a decentralized governance philosophy that’s censorship-resistant and powered by the individuals. Welcome to Higher Cash. 

About Arbitrum

Offchain Labs is a venture-backed and Princeton-founded firm creating Arbitrum, a set of safe scaling options for Ethereum. Arbitrum is the main Layer 2 scaling supplier and has two dwell blockchains — Arbitrum One, an Optimistic Rollup resolution and main alternative for DeFi dApps, and Arbitrum Nova, an AnyTrust resolution and residential for gaming and social dApps together with Reddit’s neighborhood factors. Arbitrum’s applied sciences immediately scale dApps, considerably decreasing prices and rising velocity, with out sacrificing Ethereum‘s safety. Porting contracts to Arbitrum requires no code modifications or downloads as Arbitrum is totally EVM-compatible. In 2022, Arbitrum upgraded to its new Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM which considerably elevated throughput capability of the community whereas meaningfully lowering transaction prices.



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