We’re excited to announce that Nuon is integrating Chainlink CCIP—the industry standard for secure cross-chain interoperability—across the Arbitrum, Base, and Ethereum mainnets. We’re leveraging CCIP’s Simplified Token Transfer capabilities to help facilitate cross-chain movement of Nuon, enabling a more seamless user experience for using our flatcoin.
We selected CCIP as our go-to interoperability solution because Chainlink has a proven track record of maintaining the highest standard of security and reliability in \Web3. Furthermore, CCIP is backed by the Risk Management Network—a separate, independent network that continually monitors and verifies cross-chain operations for suspicious activity. This additional layer of security is particularly important given historical industry exploits and the billions in user funds lost due to insecure and unreliable cross-chain infrastructure.
Nuon is an overcollateralized flatcoin—a stablecoin pegged to the current inflation rate as measured by Truflation—that helps users maintain their purchasing power against inflation. Unlike stablecoins pegged to fiat currency, flatcoins aren’t directly impacted by changes in central banking monetary policy. The protocol is double-audited and features collateral deposit insurance from three major providers in the space.
In order to help secure cross-chain flatcoin transfers, we needed access to a highly secure and reliable interoperability solution. After reviewing various solutions, we selectedChainlink CCIP because it provides a multitude of important benefits and features:
- Time-tested security and reliability—CCIP’s consensus and interoperability layer is powered by Chainlink decentralized oracle networks, which have already secured tens of billions of dollars for smart contracts and enabled over $8 trillion in on-chain transaction value. CCIP also features additional layers of protection and reliability via the Risk Management Network and Smart Execution.
- Simplified Token Transfers—CCIP features a plug-n-play solution consisting of audited token pool contracts that handle the complexity of burning and minting, or locking and minting, tokens across chains. CCIP’s Simplified Token Transfers also have additional security features like Rate Limits, and enable ecosystem partners to easily build new capabilities around a supported token via a single CCIP interface.
- Flexible and programmable—CCIP messages are programmable, meaning token transfers and arbitrary data transfers can be one atomic transaction. This enables instructions to be passed in the data payload regarding what to do with the tokens once they arrive at the destination chain. CCIP also supports multiple token handling mechanisms on the source and destination chains (e.g., burn and mint, and lock and mint) to open up a wider range of use cases.
- Future-proof—CCIP is built to support continuous updates, such as the integration of new blockchains, the introduction of advanced functionalities, and the addition of other defense-in-depth approaches to security. Thus, integrating CCIP eliminates future switching costs should new cross-chain functionalities be required.
“We’re excited to integrate Chainlink CCIP to unlock cross-chain transfers of Nuon. Powered by battle-hardened Chainlink infrastructure, CCIP will help unlock new functionality for our flatcoin without compromising on security.”—Stefan Rust, Founder and CEO of Nuon
Chainlink is the industry-standard Web3 services platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized oracle network, Chainlink enables developers to build feature-rich Web3 applications with seamless access to real-world data and off-chain computation across any blockchain and provides global enterprises with a universal gateway to all blockchains.