The Laguna Labs team has launched a testnet for Nuon, a decentralized token linked to changes in the value of the consumer basket.
The value of the asset will fluctuate in line with “daily reliable on-chain inflation data.”
To this end, an independent oracle will be used, based on data on changes in over 18 million positions from 40 providers.
Nuon has over-collateral in the form of the most capitalized cryptocurrencies. In order to maintain the binding, arbitration is used.
According to the project website, the team is conducting a double audit and offering security deposit insurance from three of the largest insurers in the industry.
