NuCypher’s mainnet launch was on October 15, 2020 with a total supply of 1 billion NU

NuCypher is a layer 2 resource allocation protocol on Ethereum that uses a Proof-of-Stake (PoS) mechanism to coordinate worker nodes.

NU is used for:

Staking to run a NuCypher worker node. Proper behavior is ensured via staking, with malicious nodes subject to slashing penalties.

Participating in the NuCypher DAO, which controls network parameters and smart contract upgrades. Users that are staking NU can validate DAO proposals.

for more info

Website: https://www.nucypher.com/