NovaBank
  • Nova Bank
  • Overview and Background Story of NovaBank
  • Economic Theories of NovaBank
    • Internal Coordination Theory
    • The Relationship Between Material Economy and Digital Economy
    • Game Theory of the NovaBank Protocol
    • Applying Internal Coordination Theory to the NovaBank Protocol
    • How These Mechanisms Create an Economic Flywheel
  • Introduction to the Operating Mechanism of the NovaBank Protocol
    • Treasury Contract
    • Sales Contract
    • Bond Contract
    • Staking Contract
    • Reward Vesting Contract
    • Contribution Value Algorithm Contract
  • NovaBank Internal Operation Mechanism Diagram
  • Explanation of NVB Token
  • NovaBank Ecosystem Development Plan
    • History of Token Economy Development
    • Challenges Faced by DeFi 1.0
    • NovaBank's Important Role in the Token Economy
    • NovaBank Launches Cross-Chain Protocol
    • NovaBank's Innovative Lending Product Plan
    • NovaBank DEX Implementation
    • NovaBank's Treasury Appreciation Plan
    • NovaBank 3.0: A Global Integrated Financial Autonomous System Based on Algorithmic Non-Stablecoin
  • NovaBank Ecosystem Diagram
  • Roadmap
    • Phase 1: Platform Development and Initial Operations
    • Phase 2: Business Expansion and Feature Upgrades
    • Phase 3: Global Expansion and Ecosystem Development
    • Phase 4: Innovation and Diversified Services
    • Phase 5: Building a Comprehensive Digital Financial Platform
    • NovaBank’s Vision for the Future
  • Contact
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  • Accelerating NVB Staking Reward Vesting by Destroying BNB
  • Periodic Buyback and Burn of NVB by the Ecological Cooperation Fund
  1. Introduction to the Operating Mechanism of the NovaBank Protocol

Reward Vesting Contract

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Last updated 9 days ago

The NovaBank protocol incorporates a reward vesting contract, jointly utilizing the first ecological partner ALTERVERSE gaming platform's token Alterverse Coin (WBNB), a BEP20 token on the BSC chain. It has officially announced funding from Binance, Polygon Ventures, Gate.io, Ankr, DuckDAO, Baselayer Capital, AltcoinBuzz, Iobc Capital, and EnjinStarter, and is about to list on centralized exchanges.

Users can unstake their NVB principal at any time, then choose to sell or restake. Rewards will be gradually released based on the initial vesting period, and the release speed will depend on the value of WBNB destroyed by the user.

Accelerating NVB Staking Reward Vesting by Destroying BNB

Users can withdraw released NVB staking rewards to their blockchain wallet at any time to sell or restake (restaking has the same effect as the protocol's automatic compounding). To accelerate the release speed, users will destroy a percentage of BNB equivalent to the NVB rewards. The percentages of BNB required for different release speeds are as follows:

Periodic Buyback and Burn of NVB by the Ecological Cooperation Fund

Part of the profits generated by the cooperative ecosystem developed on the NovaBank platform will be used to establish the Nova DAO fund. This portion will be used to periodically initiate the buyback and burning of NVB, empowering NVB's deflationary mechanism.

Notes: When the vesting speed is 150 days, burning 10% of the remaining unrelease tokens based on the value of WBNB can accelerate the vesting speed to 100 days. When the vesting speed is 100 days, burning 20% of the remaining unrelease tokens based on the value of WBNB can accelerate the vesting speed to 60 days. - And so on.