Auton (ATN)

Autonity is an EVM-based public blockchain known for its utility coin, Auton (ATN). It is designed to serve as a decentralized infrastructure for borderless markets, which are markets with participants in multiple currency areas. Autonity addresses the risk of unwanted foreign exchange in these markets by combining innovation in unit-of-account and stabilization mechanism design. This allows builders to develop new markets without the limitations of fiat-pegged stablecoins. In its early testnet stage, Autonity is being developed by a passionate community that recognizes the potential social benefits of monetary and market structure innovation.

Autonity operates on the Ethereum Virtual Machine and has a block time of one second. It utilizes the Tendermint Byzantine Fault-Tolerant consensus protocol and employs a Sybil-resistance mechanism called Delegated Proof-of-Stake. The network can accommodate a maximum of 100 validators. The utility coin of Autonity is ATN, also known as “Auton.” The staking coin is called NTN, or “Newton,” and the staked NTN can yield LNTN (Liquid Newton) ERC20 tokens. Transaction fees are set by the EIP1559 control system and are paid in ATN. Autonity also features a stabilisation mechanism, where ATN can be borrowed against NTN or LNTN collateral through a CDP (Collateralized Debt Position). The stabilization target is ACU, an index that aims to minimize volatility while maintaining base-invariant stability.

You can visit their official website for further information and documentation on Autonity. The project is actively seeking community engagement, as it believes in the power of collaboration and the potential social benefits that monetary and market structure innovation can bring. Autonity is committed to building a decentralized infrastructure that empowers builders to thrive in borderless markets without the limitations imposed by fiat-pegged stablecoins.