Cost of living-linked cryptocurrency launches on Arbitrum


HONG KONG, Feb. 2, 2023 /PRNewswire/ — The Nuon Protocol has announced the launch of its mainnet for the NUON flatcoin: the world’s first cryptocurrency linked to an unbiased cost of living index. Decentralized and overcollateralized, Nuon will go live on the leading Ethereum scaling solution, Arbitrum.

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…

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