Nuon, which claims to be the first “unbiased,” decentralized and overcollateralized “flatcoin” whose value is pegged to an independent cost of living index, has announced that it has “joined the Chainlink BUILD program.”
Nuon’s goal is “to move the needle towards the next evolution of stablecoins and solve the problem of inflation: unlike most stablecoins pinned to depreciating fiat currencies, the value of a Nuon flatcoin is based on daily unbiased, census-level, and on-chain inflation index.”
This means with Nuon, “your purchasing power remains constant – or ‘flat’ – over time.”
Joining BUILD “enables the Nuon Protocol to maximize the benefits of security and reliability that the Chainlink infrastructure provides.”
Through BUILD, Chainlink aims “to accelerate the adoption of Nuon, which will receive enhanced access to Chainlink’s industry-leading oracle services, as well as technical support.”
In return, Nuon will “incentivize staking in the Chainlink community which will work to strengthen the security of the network through greater decentralization.”
The Nuon Protocol “will also add Chainlink’s native token, LINK, to the list of assets used as collateral backing to mint Nuon.”
Currently in testnet mode, and “having already passed smart-contract audits by CoinFabrik, Nuon is scheduled for launch in Q1 2023.”
Commenting on the partnership, CEO of Laguna Labs Stefan Rust says:
“We’re excited to join Chainlink BUILD, which will help increase awareness and strengthen credibility for Nuon, an innovative, first-of-a-kind flatcoin. This integration will enable Nuon to leverage Chainlink Web3 services and ultimately help users hedge against inflation and maintain their purchasing power.”
As noted in the update, Nuon says that it is “the world’s first unbiased flatcoin.”
The next-generation stable coin, Nuon is described as “an inflation-resistant coin pegged to the cost of living that protects your purchasing power from the loss of value caused by inflation.”
Nuon powers “the inflation-proof economy for the people through a decentralized governance philosophy that is censorship-resistant and powered by the people.”