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Nuon “Flatcoin” Goes Live: Cost of living-linked cryptocurrency launches on Arbitrum

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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 ArmstrongBalaji 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.

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.

Arbitrum’s Chief Marketing Officer, Andrew Saunders, says “As the first flatcoin on Arbitrum One, we’re excited to welcome Nuon into our robust and collaborative ecosystem. Nuon brings an entirely new opportunity to life for our community to connect directly to an inflation index, and we hope to see Nuon accelerate with Arbitrum and scale in a secure and efficient manner.”

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.

Commenting on the launch, CEO of Nuon Stefan Rust added: “Just as decentralized protocols are the answer to risks posed by centralized currencies, and over-collateralization is the answer to maintaining value in the face of market instability, inflation-proof flatcoins are the solution to preserving value over time.

“Our vision for Nuon – inflation-proof money – is ambitious to say the least,  and we see Arbitrum’s infrastructure as an important step towards making Nuon a ubiquitous medium of exchange” ”

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.

Unbiased flatcoins have the opportunity to join the ranks of other digital assets like Bitcoin, providing individuals and institutions with monetary solutions outside of fiat currencies. This stage of innovation will add the preservation of purchasing power to the range of capabilities already available inside the crypto space.

Blockchain

Move and earn leader STEPN drops new app and gaming token

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FSL, the global gaming and development studio behind web3 lifestyle app STEPN, NFT marketplace MOOAR, and social-strategy game Gas Hero, has officially announced the launch of STEPN GO. The new product is a social lifestyle app that rewards your daily movement and social interactions. Today marks an exciting milestone with the release of the STEPN GO Whitepaper and Tokenomic model. The game introduces a new token, GO GAME TOKEN (GGT), which users can earn by walking, jogging, and running with digital NFT Sneakers. There will also be a PvP game feature that allows users to earn GMT, the FSL Ecosystem token.

The original STEPN app was launched in 2021 and remains the world’s leading ‘Move and Earn’ application, pioneering the genre of gamified web3 fitness applications. With over 5.6 million registered users and over 1 million Sneaker NFTs owned by players, STEPN achieved monumental success, acquiring a global community. STEPN has partnered with prolific brands over the years including ASICS, Steve Aoki, and most recently adidas. STEPN was also the first blockchain gaming app to integrate Apple Pay, creating a seamless onboarding experience for web2 native users.

Yawn Rong, Co-Founder of FSL commented, “The STEPN community has been requesting social features within the app since the early days of STEPN. Therefore, we’re so excited to reveal these new features, which will propel STEPN GO into mainstream adoption. In addition to the Haus Mechanism and Interactive Map, we will also implement PvP elements within the app. Community is at the heart of everything we do at FSL, and we are ecstatic to announce this monumental milestone today, reinforcing our commitment to empowering and engaging our users.”

Building on the success of STEPN, FSL has designed unique social features within STEPN GO. The first key social element is the ‘Haus System’, which is a lending system that allows users to share their Sneaker NFTs with friends and family members who are new to the app, and split their earnings. This system will enable easy onboarding for new users to enjoy the app and kickstart their fitness journey. Another unique feature will be the ‘Interactive Map’, which will allow users to see other players’ avatars and even add them as friends within the platform. This Interactive Map will also allow users to drop messages that can be found by other players out doing STEPN GO runs.

Jerry Huang, Co-Founder of FSL added, “With STEPN GO, anyone can onboard their friends and family to web3 without needing to create a wallet or even buy NFTs. Exercise will be more fun and rewarding. We will combine fitness with many enjoyable experiences, including having your own customizable avatars with unique outfits!”

The Alpha Version of STEPN GO is set to launch by Q3 2024 with a Sneaker NFT Alpha Prize Draw lasting one month. A total of 3,000 Sneaker NFTs will be distributed within the app. To enter, users will be required to lock GMT. Access to the Alpha Prize Draw will be limited to FSL ID users, ensuring the most loyal FSL community members are rewarded. An additional 2,000 Sneakers will also be given away via the STEPN X account and STEPN GO Discord. Make sure to follow STEPN on X for your chance to win a Sneaker and gain early access.

The post Move and earn leader STEPN drops new app and gaming token appeared first on HIPTHER Alerts.

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Blockchain

CBiGroup Completes $15M Series A Funding, Focuses on R&D

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CBiGroup Completes $15M Series A Funding, Focuses on R&D

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Blockchain

Correction: CBiGroup Completes $15M Series A Funding, Focuses on R&D

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CBiGroup Completes $15M Series A Funding, Focuses on R&D

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