Governance

NOVA Governance System

Autonomous decentralized governance

Various decisions are required regarding platform operation, such as investment in the platform, interworking with other platforms, fees, compensation for transactions, disposal of staked assets, and token incineration and issuance.

In addition, the ability to set standards for inappropriate surveys and to supervise them is also required. In the case of platforms that are not specialized in the survey, moral hazard due to unilateral survey

questions and intentional and malicious analysis of results cannot be excluded.

If platform participants manage and decide important matters by voting through DAO based on complex trust criteria such as token holding, contribution, staking amount, and user rating, the harm caused by this practice can be reduced.

The governance structure is as follows.

NOVA token holders, users, developers, and DAO members (sponsors, indirect participants, investors, etc.) will participate in governance activities fairly.

NOVA governance details include:

First, it is a decision-making structure system.

If there is an opinion that conflicts with the basic system such as total coin issuance, whether additional issuance, change of fee, etc., reconciliation, arbitration or mediation body, etc. are included.

Second, it is reflected in the design of the incentive system.

Reward system, voting rights, penalties, etc.

Third, it reflects the standard of token issuance and distribution mechanism.

It is an algorithmic method or pre-mined method, and it includes determining what percentage to allocate to foundation founders, key members, and advisors, and determining the token matrix to be allocated to early investors, advertisements and system development, etc.