White Paper

Crypto Wealth Management

Since we have successfully onboarded new and existing users to web3 through the Nova app, with a lower onboarding threshold and completed the necessary KYC procedures, it makes sense to consider providing cryptocurrency exchange services as a natural extension in the future.

Web3 Ad Network

The project team aims to also revolutionize the social media advertising ecosystem by developing a crypto-based advertising network. While currently the space is dominated by giants, the project team will add value to the market through which our ad network will extend the applications of cryptos and be operated in a Web3 way.

Ad Revenue Sharing with User

One of the core missions of the project is to share the commercial benefits generated by our social media platform with the platform’s users. This will be done through redistributions of ad revenue to all token holders, and advertisers will need to buy Nova Plus tokens to place advertisements.

Blockchain Development

The project team will carefully evaluate options in the market and choose a reliable blockchain partner and migrate the Nova Network token economy to that chain in the project’s initial stage. Once the chain is built we will create a non-custodial wallet (store value and transfer in-out) and custodian wallet (to spend and use) inside the app.

In the later stage of the project, we will launch NovaFi which is a centralized crypto wealth management app that users who obtain Nova/ Nova plus tokens earlier can directly sell-off in the market. Users can access both apps with the same login account which the wallet can transfer between two apps, since we will release different kinds of service around the Nova ecosystem, Nova will be the next decentralized identifier (DID) in the blockchain field.

Reminder : When the project matures our team will develop and launch our own chain.

Continuous Development in App Functionalities

The project team will continuously gather user feedback, evaluate user journey, stay on top of the latest market trends and develop new functionalities for the app which further enhance user experience.

App Publication & KYC Openup

Once the app is launched the project is already at KYC stage. When users have consecutively checked in for a number of days, they will be assigned a KYC slot for submitting their personal document for verification purposes.

For the KYC verification process, we build our KYC system (VerifyBlock) to automate KYC the process, since we are taking seriously on user privacy and also foresee there would be a large number of users who need to be KYC from time to time, the system will make use of OpenAI and photo recognition for automating verification process and applied multiple encryption processes to ensure the data security of the users. In the future, we will also provide verifyBlock as a service for other corporations for the KYC process.

The Nova Network is targeted to launch in June 2023 and has set milestones below in the project roadmap.

6. Project Milestones

V1.0 15 July 2022

White Paper

V0.6 May 2023