Laguna Labs launches a testnet for a flatcoin pegged to inflation

The Laguna Labs team launched a testnet for Nuon — a decentralised token pegged to changes in the cost of the consumer basket.

The asset’s value will change in line with daily credible on-chain inflation data.

For this, an independent oracle will be used, based on data on changes across more than 18 million positions from 40 providers.

Nuon is overcollateralised by the most highly capitalised cryptocurrencies. An arbitrage mechanism is used to maintain the peg.

The project site says the team conducts a double audit and offers collateral deposit insurance from the three largest insurers in the industry.

The testnet will allow testing of the token issuance mechanism.

According to the developers, the idea was inspired by the Twitter spat involving Coinbase CEO Brian Armstrong, the former CTO of that exchange Balaji Srinivasan, and Ethereum co-founder Vitalik Buterin.

According to the latest data, the annual inflation rate in the United States reached 8.2%.

Earlier in September, TBD Джека Дорси and Circle договорились о партнерстве с целью популяризации использования стейблкоина в сбережениях и трансграничных расчетах с фокусом на развивающихся странах.

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