Nuon Integrates Chainlink Automation and Price Feeds To Power the Nuon v2 Protocol

We’re excited to announce that Nuon, a member of the Chainlink Build program, has integrated Chainlink Price Feeds and Chainlink Automation into its v2 protocol. Nuon is a yield-generating stablecoin that protects holders against inflation in the easiest and safest way possible by depositing liquid yields into their wallets. 

“Price feeds are a core component in Nuon v2. A lot of money relies on them being accurate, tamper-proof, and secure. Adopting Chainlink Price Feeds and Chainlink Automation into Nuon v2 significantly enhanced our capabilities, cost-effectiveness, security, and user experience. Chainlink remains the gold standard of decentralized data and automation for all high-quality protocols, and for a good reason.”—Cameron Lee, the co-founder of Nuon.

By integrating Chainlink, the industry-leading decentralized computing platform, Nuon gained access to high-quality, tamper-proof price feeds necessary to evaluate and rebalance deposited assets and yields. Nuon also leveraged Chainlink Automation to securely and cost-efficiently automate the yield distribution to NUON holders and stakers and, in case of emergencies, to trigger the built-in economic security layers. 

Chainlink was our preferred oracle solution because its infrastructure is easy to integrate and has been tested many times in development. As the most widely adopted ‘price feed’ standard in Web3, Chainlink already helps secure leading DeFi protocols responsible for tens of billions of dollars in smart contract value. It maintains robust security and high availability even amidst unexpected events, such as exchange downtimes, flash crashes, and data manipulation attacks via flash loans. 

Nuon v2 offers simple, liquid DeFi yields for NUON holders. Stablecoin holders are sensitive to USD inflation but often reluctant to test DeFi loaning and yield-bearing protocols due to risk, uncertainty, and the knowledge required. Nuon v2 protocol facilitates and risk-adjusts the process so that NUON holders don’t need to do anything else except hold NUON in their non-custodial wallets. 

NUON holders receive daily yields in NUON corresponding to current inflation as reported by Truflation via Chailink data feeds. The yield is obtained by allocating the protocol’s funds into popular stable-price, yield-bearing assets using a novel decentralized portfolio allocation engine and community-governed yield strategies. 

The protocol employs a lightweight, veto-based governance system and an allocation engine to distribute the protocol’s TVL into yield-generating assets. The governance via a strategy token is highly incentivized and limited to protocol allocations, while other core modules like treasury, Dutch auction, and the vaults remain autonomous. In doing so, Nuon v2 offers a trust-minimized, efficient solution for both stablecoin holders and crypto-native investors with a choice of risk preferences and risk management solutions. 

In order to help maximally secure our deposited assets and yield strategies, we needed access to tamper-proof, manipulation-resistant, real-time asset prices supplied directly on-chain in a highly reliable manner. It was crucial to obtain fair market asset prices that reflect a volume-weighted average from all trading environments. Thus, we needed to make use of a reliable, time-tested oracle network to fetch aggregated price data off-chain and deliver it on-chain to power the Nuon v2 protocol. 

Here are a few reasons why we chose to integrate the Chainlink Price Feeds:

• High-Quality Data—Chainlink Price Feeds source data from numerous premium data aggregators, leading to price data that’s aggregated from hundreds of exchanges, weighted by liquidity depth, and cleaned from outliers and suspicious volumes. Chainlink’s data aggregation model generates precise global market prices that are resistant to API downtime, flash crash outliers, and data manipulation attacks like flash loans.
• Secure Node Operators—Chainlink Price Feeds are secured by independent, security-reviewed oracle nodes run by leading blockchain DevOps teams, data providers, and traditional enterprises with a strong track record for reliability, even during high gas prices and extreme network congestion. 
• Decentralized Network—Chainlink Price Feeds are decentralized at the data source, oracle node, and oracle network levels, generating strong protections against downtime and tampering by either the data provider or the oracle network.
• Transparency—Robust, publicly available reputation frameworks and on-chain monitoring tools allow users to independently verify the historical performance of node operators and oracle networks, as well as check the real-time prices being offered.

We also used Chainlink Automation and its pool of node operators because of their reputation, reliability, and low gas. The Chainlink Automation Network is operated by the same pool of node operators who continuously secure tens of billions of dollars in DeFi, even during record levels of network congestion and extreme volatility.

About Chainlink

Chainlink is the standard for on-chain finance, verifiable data, and cross-chain interoperability. Chainlink is unifying liquidity across global markets and has enabled over $19 trillion in transaction value across the blockchain economy. Major financial market infrastructures and institutions, such as Swift, Fidelity International, and ANZ Bank, as well as top DeFi protocols, including Aave, GMX, and Lido, use Chainlink to power next-generation applications for banking, asset management, and other major sectors. Learn more by visiting chain.link.

About Nuon

Nuon is the safest and simplest stablecoin, which protects holders from inflation by paying yields directly to their wallers; no further action or attention required, EVER. With Nuon, YOU are NOT the yield. By holding NUON, you access DeFi yields at near-zero risk and enjoy a stable, medium-level APY that is completely liquid and completely free. Nuon is DeFi made easy.