NOVA Token Details
NOVA is the native governance and utility token of the NovaDAO protocol. This page covers the token's specifications, distribution, utility, and how issuance works.
Token Overview
| Property | Value |
|---|---|
| Token Name | NOVA |
| Network | Stellar (Soroban smart contracts) |
| Token Standard | Stellar Asset (SEP-41 compatible) |
| Decimals | 7 |
| Initial Supply | 100,000,000 NOVA |
| Hard Cap | No hard cap (governance-gated issuance) |
Supply Information
NOVA does not have a fixed hard cap. New tokens can only be minted through a governance process that requires approval from existing token holders. This design balances flexibility with protection against uncontrolled inflation.
Real-Time Verification
Query the NOVA token contract directly on Soroban to verify the current total supply. Every mint and burn event is logged as a contract event and indexed by Stellar explorers.
No Backdoor Minting
The mint function is gated by the DAO governance contract. No admin key, multisig, or team wallet can mint tokens unilaterally. Every issuance requires a successful governance vote.
Initial Distribution
| Category | Allocation | Tokens | Vesting |
|---|---|---|---|
| Community ICO | 40% | 40,000,000 | None (immediately liquid) |
| Protocol Treasury | 25% | 25,000,000 | Governance-controlled |
| Core Team | 20% | 20,000,000 | 12-month cliff, 36-month linear |
| Ecosystem Grants | 10% | 10,000,000 | 24-month linear |
| Advisors | 5% | 5,000,000 | 6-month cliff, 24-month linear |
Token Utility
NOVA serves three primary functions within the protocol:
Governance
NOVA holders vote on protocol proposals, project listings, fund releases, and parameter changes. Voting power is proportional to staked NOVA.
Staking
Stake NOVA to earn a share of protocol fees. Staked NOVA also grants enhanced governance weight and access to early project allocations.
Fee Token
Protocol fees (listing fees, trading fees, redemption fees) accrue to the treasury and are distributed to NOVA stakers through governance.
Issuance Mechanism
New NOVA tokens can only be created through a four-stage governance process:
Proposal Submission
Any NOVA holder with at least 1% of circulating supply can submit a mint proposal specifying the amount, recipient, and justification.
Futarchy Market
A conditional market is created. Traders buy pass or fail tokens to express their view on whether the mint will benefit the protocol. The TWAP oracle tracks market sentiment.
Voting Period
The proposal enters a 7-day voting period. NOVA stakers vote directly, and the futarchy market provides an additional signal. A supermajority (66%) is required for mint proposals.
Execution
If approved, the mint is executed by the DAO contract. The new tokens are sent to the specified recipient. The event is logged on-chain and visible on all explorers.
Verification and Transparency
| What to Verify | How to Verify |
|---|---|
| Total Supply | Query the NOVA token contract on Soroban or check StellarExpert |
| Circulating Supply | Total supply minus locked (vesting + treasury) balances |
| Mint History | All mint events are logged as Soroban contract events |
| Burn History | Bid Wall burns and governance burns are logged on-chain |
| Governance Proposals | All proposals and votes are stored in the DAO contract state |
Regulatory Transparency
NovaDAO is committed to regulatory clarity. The NOVA token is designed as a utility token with clear functional use within the protocol. Key points:
- NOVA is not marketed as an investment or security.
- Token utility (governance, staking, fees) is live from day one.
- The team allocation is subject to the longest vesting schedule (12-month cliff, 36-month linear vesting).
- All token sales are conducted through the STAMP framework, which provides clear legal terms for participants.
- The protocol operates transparently with on-chain governance and publicly verifiable treasury management.
Next: Token Mechanics for issuance, burn, and inflation details.