NovaDao Overview
An abridged whitepaper primer
What Is NovaDao
NovaDao at it’s core is an iteration of a venture capital Dao structure utilizing unique mechanics pioneered by the crypto and NFT space to provide a novel solution. The problems of most early-stage opportunities is they are currently only available to select whales. NovaDao removes this barrier in a revolutionary method of using DAO as a service to present early-stage investment opportunities to anyone and everyone in a permissionless manner.
How Does NovaDao Work
Projects will submit and be selected for funding by the DAO. In order to gain access to the investment opportunity and holder of $Nova may burn their holding in order to receive the revolutionary Proof of Burn Tokens (PoB). PoB takes inspiration from the Wool Pouches found in Wolf Game. It is an ERC1155 token that emits ERC20 tokens. For example if a holder burns 1% of the $Nova used to fund a project the PoB they will receive emits 1% respectively to the DAOs investment of the project’s native token linearly of a fixed period of time.
Innovations Of NovaDao’s Method
This method of fractionalized capital raising allows anyone to invest any amount into a project or fund at a much earlier stage with a more variable entry. Along with the PoB token mechanic that allows for the investment opportunity to remain more liquid. This freedom provided means investors may exit wholly or in part or acquire a larger position. It also means that if the returns of investment are in another form other than a native token or WETH then a substitute token can be emitted by the PoB that can be burned into the Dao to claim rewards converting what could be illiquid gains such as NFTs or another myriad of possibilities into liquid returns.
NovaDao’s Genesis Collection Nova Deus
$Nova will be generated and introduced to the market by the staking of NovaDao’s genesis NFT collection. The sale of the 7500 gorgeous pfp collection of Nova Deus or “New Gods” will form the DAO’s first fund. Nova Deus holders will forever form the governance DAO of our project and will also bring “First Right of Refusal” giving them first choice to buy into to future funds.
The Opportunities are Limitless
The potential projects that NovaDao will fund could be anything with merit.
This means the scope will be broad and spanning the entire web3 space. As a member participating you could gain exposure to the next top DeFi project,
NFT builders like Yuga Labs creators of BAYC or even platforms like LooksRare.
Understanding NovaDao On A Higher Level
This is a very surface level explanation of what NavoDao intends to be and is meant as a primer to quickly gain an idea of the DAO’s mechanics and goals. Being such an ambitious project NovaDao has many nuances that require more in-depth explanation to fully bring into scope. Please if you would like to go further take the time to go over NovaDao’s whitepaper.
Our twitter: https://twitter.com/NovaDeusNFT?s=20
Our discord: https://discord.gg/yVUrQs2z
