Exciting news ahead! 19 Feb 2022

As our company and our ecosystem evolve, management, organisation, and clear communication becomes ever more important. Following our last announcement, a series of restructuring actions were triggered within Nova Network to promote consolidation of our products and services, to further improve and enhance the understanding of what is Nova and what we do, to our users.

This comes after community feedback and advice, that clearly showed us that newcomers were confused as far as what we do, what are our goals, and even how to participate in the ecosystem - since we have two traded tokens. To address that, we have put together an action plan, and with the unfold of this plan, what we want to accomplish is:

  • To restructure our community channels, so it's clear and easy to our users to interact and engage with the community and the company,
  • To give our individual platforms more independency and autonomy, whilst still promoting integration and mutual growth,
  • To make clear to newcomers how to participate in what we do - aka which tokens to hold for what,
  • To optimise processes and trim down unused services, so we make room to new ones to be implemented,
  • To develop a full-scale marketing strategy,
  • To make information more accessible to our users,

Community Channels

In the next days and weeks, we will be working on a restructuring of our community and social media channels, brining more quality content to our userbase, as well as making more interactive communities, such as our Discord Server, easier, more accessible, and less cluttered to users.

Our Platforms

As Nova Network is still one, by branching our platforms we expect to promote specialisation, both on the development and community sides. This will allow us to develop and focus on the communities that use each individual platform, making the process more comprehensive, and even more community-driven. It will also come to help with the marketing, which is easier to manage if done separately, allowing each platform to have its marketing strategy targeted to their own niche of users on the social media and other channels.

The end, without the beginning, of NBX!

As you know, we have planned to use Nebula X (NBX) as our main network coin, but after a lot of thought and a lot of advice, we have decided that to have a third token built into our platform would not be a good move, as it would further confuse our userbase, and split the community in a way we do not want. Although NBX would likely allow us to fundraise better, the end-result on a mid to long-term basis would end up being more negative than any positives that would come funds we would bring to the table at this point and time. So as we seek consolidation, one of the big decisions that we have made was not to add a new token to our repertoire. Instead, NBX will be used as our testnet native coin, which users will be able to get for free from our faucets, and use to test their platforms and products to be deployed on the mainnet.

Our Tokens

As NBX will no longer be used, we had to chose between using either NBK or SNT as our blockchain's native coin. The move brings good and bad, as whichever token we could have chosen, would have to have their tokenomics redesigned to suit the new use-case, but on the other hand, it would also bring a considerable larger array of use-cases by becoming our mainnet coin. After a thorough analysis, we have decided that SNT was the obvious choice, mainly because of its current liquidity availability, the low supply and strong economics, the more fair token distribution, with less whaling, and the fact that we have always pledged SNT was our DeFi token of choice. Therefore, we are happy to announce that Supernova will be merged into becoming our mainnet coin, and all the details of the changes, as well as further information on how exactly it will affect SNT's token economics, will be released on a future announcement.

How does that affect NBK?

The appeal and use-case of NBK was always governance, and that will remain intact. We have plans to further encourage the usage of our governance system by our community, and voting will still be weighted in NBK. We will also expand it's compatibility, and will be bridging a set amount of NBK from Fantom to Nova Network, so users can trade and have liquidity in both networks.

NovaPro is Changing

One of the platforms that will see the most changes, will be NovaPro. As it was the very first of our platforms, and it saw major traction when we started this company, because the Fantom fiat onboarding option is the main service our users utilise, its usage has been on a steady decline since Binance implemented their own fiat onboarding option for Fantom, with lower fees than we could ever possibly charge. So, instead of fighting a lost war, we have decided to change focus, and we will be working to make NovaPro the main gateway for users wanting to join Nova Network (the blockchain), refreshing its use-cases, and making it an easy-to-use way for newcomers to buy into native SNT, bridge their assets from other networks, and really bootstrap their journey on using Nova Network as their main blockchain of choice. The process will be carefully tailored so it causes the minimum possible impact on current active users, and we will still make it compatible with multiple chains, Fantom included. More details will be released in future announcements, and if you have any fiat funds, tokens, or coins in the platform, withdraws and offramp services will remain unchanged, even after we implement all the changes we want, and the main impact you can expect is a diminished compatibility with non-native assets (aka tokens) from blockchains other than Nova Network, and a trimming of some of the services that are not widely used within NovaPro. If you have any further questions, feel free to email us, or to seek support in one of our community channels. We will be making further announcements with more details on exactly how this will be structured, and how NovaPro should look like once it has gone trough this transition.

Marketing

As most of our growth to date has been nothing but organic, we are reviewing our strategies, and will likely have paid marketing campaigns and a stronger marketing roadmap put in place for all of our ecosystem.

Information Accessibility

As of now, all our documentation for all our platforms are hosted by Nova Finance's docs domain. We will split them into individual domains, so it is easier for users to navigate through what they really want to know, without having to filter down all the unnecessary information on the platforms they do not use or participate in. With that, we might also review some of our websites, and will try to consolidate as much as possible, so users have a clear and straight-forward way to find the information they are looking for. We expect to put in place a further announcement on the topic, breaking down links and explaining how the new informational structure will work.

Thinking long-term...

We know that some of these changes will catch you by surprise, but we truly believe that putting these changes in place now will help us on laying a stronger base to the future of Nova Network, and will ultimately help us on growing our community by making easier and simpler for newcomers to understand what we do, and what our goals are. If you have any questions, feel free to reach out directly to us.