2021-08-15 22:05:29
Attention, ShibaNovians!
This has been such a tremendous week full of highs for our launch but also some unexpected challenges and bumps in the road.
The road to greatness is never paved in diamonds right away - and our team is intent on continuing the work every day to get better!
In full transparency, we made the decision on launch to increase rewards for non-native pairs in order to attract more liquidity for our dApp. This had the unintended consequence of inflation for our Nova token and caused the price to decline. We are now making the necessary adjustments to allocate the weight of the emissions back to the farms generating sNOVAs in order to optimize rewards for our loyal community members who are busy farming their valuable sNOVAs for daily dividends.
Our team is full of intelligent and thoughtful out-of-the-box thinkers. This week, we came together (led by our resident tokenomics guy, Sam) and took a deeper-dive into the machinations of our tokenomics. We came up with broad and sweeping improvements for our multipliers and emissions distribution that should get our NOVA price right back on track! This process of evaluating tokenomics post-launch is nothing new - some of the cornerstone DeFi projects like SushiSwap had to resolve their tokenomics and make needed changes on their way to explosive growth. Our hope is that with these changes, not only will our NOVA token increase in value, our Money Pots should also be consistently higher, but our overall TVL will also see some growth.
Below you will see the changes in the farms, including the multipliers. As you can see, we are aiming to directly compete with the heavy hitters like PCS and their liquidity.
Additionally, we are on a massive marketing push this week - we have a viral marketing with team of investors and influencers ready to go to work. We also have a very successful Instagram influencer who is ready to go as soon as we give him the green light. We have also heard back from several YouTube influencers who we will be commissioning this week. We are planning all of these aggressive multi-platform campaigns for this week, including Youtube, Instagram, Twitter, Discord, Reddit, and Telegram.
We wanted to also share this announcement with you in our community before our marketing launches so that our loyal community members can better strategize their positions in these new farms.
With all these measures in place we are more confident than ever that now is a very attractive time for investors to get in very early as we expect NOVA price to rise now as emissions decrease and more NOVA is locked in as sNOVA
TL;dr: DEGEN talk 'we made changes and now number go up'
269 viewsedited 19:05
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