As web3’s leading decentralized oracle service, Chainlink has enabled nearly $7 trillion in transaction value while its ecosystem has expanded beyond 1,600 projects. Recently, Chainlink launched Chainlink Economics 2.0, a framework of initiatives – including Staking v0.1, Chainlink SCALE, and Chainlink BUILD – aimed at continuing the network’s cross-chain expansion.
The BUILD program, in particular, is designed to strengthen the Chainlink Network by fostering promising early-stage startups in Chainlink’s ecosystem. Participating projects receive benefits such as priority access to technical support and new services from Chainlink in exchange for paying fees that incentivize Chainlink service providers and boost the network’s cryptoeconomic security.
Last week, Nuon Protocol announced it is joining BUILD to accelerate the adoption of its innovative flatcoin, Nuon. Conceived as an inflation-resistant alternative to stablecoins that are pegged to fiat currencies, Nuon is pegged to the real-time cost of living using decentralized inflation data from Chainlink-powered index, Truflation.
Nuon’s CEO, Stefan Rust, told Chainlink Today that Nuon was designed with a focus on decentralization and security through overcollateralization that allows it to function as a new inflation-hedging tool for consumers and enterprises.
“Nuon’s value remains flat with respect to inflation,” he explained. “It is not pegged to a depreciating fiat currency. Instead, it is pegged to an unbiased and census-level inflation index.”
While he described the team’s vision for Nuon – solving inflation – as “ambitious to say the least,” Rust views BUILD as an important step toward making Nuon “a ubiquitous medium of exchange.”
“The Chainlink BUILD program will provide us with enhanced access to Chainlink services and technical support during the launch phase of the Nuon Protocol,” he explained, adding that exposure to Chainlink ecosystem projects with flourishing user bases is vital to Nuon’s growth.
“This increases our opportunities to generate larger and more sustainable flows of users from the get-go,” he said.
In an official announcement, Nuon Protocol detailed plans to integrate multiple Chainlink services including Price Feeds, Automation, and Proof of Reserve. Ultimately, Rust expects Nuon’s integration with Chainlink as “one of the most established and respected names in the blockchain industry” will attract new users.
“Chainlink’s infrastructure is a linchpin of the entire decentralized finance network,” he said. “It is truly a pivotal piece of infrastructure that can and will onboard numerous users in both the decentralized and traditional finance ecosystem.”