Question 1

1. Does the token earning function of Nova Network mean mining cryptocurrency on mobile phones? Will using the Nova Network app drain a lot of your phone’s battery and data?

Accepted Answer

No. Users use mobile phones to connect to our server for logging the tokens earned and are not contributing the computing power of your mobile phone to the blockchains. As for battery and data usage, since Nova Network is a UGC app with lots of photo and video content, you can assume the data and battery usage of this app is similar to mainstream Web2 social media apps.

Question 2

2. Does the user need to pay for any functions of Nova Network?

Accepted Answer

Most of the functions of Nova Network are free of charge. You can enjoy our social media platform and earn tokens without financial cost. Only some selected functions such as when you want to place advertisements on our platform and boost your sponsored content to more users will you need to pay. You can also choose to pay with fiat currencies or Novas Plus tokens, where discounted rate is applied on payment with Novas Plus tokens.

Question 3

3. How much is a Novas Plus token worth?

Accepted Answer

The value of Novas Plus token will be determined by market’s demand and supply and the overall development of Nova Network project. 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. However, please note that only users who have passed KYC are eligible to earn Novas Plus tokens.

Question 4

4. How to enable the KYC process and what benefit will I get after passing the KYC?

Accepted Answer

Users are entitled to KYC after logging in to Nova Network and initiating earning sessions of Nova's tokens for a consecutive number of days. After that, you will be given a KYC slot where you can submit your documents for compliance purposes. After passing our KYC verification process, you can start earning both Nova's tokens and Novas Plus tokens.

Question 5

5. How do I earn tokens faster?

Accepted Answer

You may earn tokens faster by completing the following methods:

1 - Click to Earn  
You start earning Novas and Novas Plus (after you pass KYC) tokens with a base rate for 24 hours simply by one click. Remember to click the earning buttons every 24 hours,

2 - Refer to Earn  
You will earn a team bonus of 25% x base rate x number of active users in your team. For example if you have 100 active users in your team and your base rate is 0.048 N / hour, you will earn a team bonus of 1.2 N / hour. Team bonuses are uncapped so you will earn much faster by referring more new users to join Nova Network using your referral code.

3 - Create to Earn  
After you have passed KYC, your first 5 posts created in a day will be entitled to a token reward & penalty system associated with the upvotes & downvotes of the post for 7 days as such,    Each upvote = 0.002 x voter country ‘s ad value from 1 - 10  Each downvote = -0.002 x  voter country’s ad value from 1 - 10    Create more quality content and gain more upvotes, you will earn tokens much faster.

4 - Vote to Earn  
Content readers can vote a content upward or downward freely and users who have passed KYC verification will be rewarded 0.002 Novas token x user’s country weighting value for every vote but capped at 10 earnings per day. The voting base rate will be halved to 0.001 when Nova Network has recorded 10 million registered users worldwide.

Question 6

6. Why I can't earn any reward through voting and creating meaningful posts?

Accepted Answer

Since the create to Earn and Vote to Earn which only applied to Novas Plus Token only which it will only unlock it after the user completed the KYC process.

Question 7

7. What’s the difference between Nova Network and mainstream social media platforms?

Accepted Answer

The main difference are: With Nova Network’s token economy applied, this Web3 social media platform has disrupted the traditional social media economy in which we 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, while as an user of current mainstream social media platforms, you receive no economic benefit of the value you created and have only been monetized as an advertising target. Nova Network has also empowered users to decide which content should appear more often by introducing the voting upward & downward system that directly influences the content display priority in the app’s discovery wall, while mainstream social media apps have their own proprietary algorithm not known to the general public that dictates which content to be shown to users.

Question 8

8. What benefit does the VIP membership entitle?

Accepted Answer

Users who subscribed VIP service will entitle to the following service:

1. Immediate KYC  
2. No Invasive ADS  
3. VIP Badge  
4. Shorten Locking Period (Both Token)  
5. Staking

Question 9

9. What's the difference between the two VIP membership?

Accepted Answer

The subscription period will be different, one is for 3 months will cost USD 39.99, and 1 year will cost USD 59.99.

Question 10

10. Can I upgrade the existing VIP services?

Accepted Answer

Yes, you can upgrade the VIP service, which strongly recommends user upgrade through NOVA App, instead of the App Store/ Play Store. Since there might be duplication order occur if the user order directly from App Store/ Play Store.

Question 11

11. If I mined the token during the subscription period and I didn't renew it after, will the shortened locking period be applied?

Accepted Answer

Yes, it will. All the tokens mined during the VIP subscription period will be applied to the shorten locking period.

Question 12

12. Can I transfer my NOVA account to a different device?

Accepted Answer

Yes, once you login into the new device, all your data will be reflected in the new device, but each time only one device can be online. If there any mining session has been started, it will be forced to exit and the user can't be mined in the next 24 hours as a penalty.

Question 13

13. If there's some post on NOVA that makes you uncomfortable, what should you do?

Accepted Answer

There's a report function on each post that you can click on it and our team will review it accordingly.

Question 14

14. What happens if I delete my account?

Accepted Answer

All your account related information will be deleted once you confirmed the deletion.

Question 15

15. Can we refund the existing effective VIP service?

Accepted Answer

Yes, The refund request or process will need to be initiated by App Store/ Google Play, once they have completed the refund process, they will notify us and we update the NOVA App as well. This process might take some time to complete.

Question 16

16. What happen to my token once i deleted my account?

Accepted Answer

We will advise the user to transfer all the tokens in the saving account token to another decentralized wallet before deleting the account, otherwise, all the tokens will be returned to the Nova network.

Question 17

17. Is there a limitation of following users?

Accepted Answer

Yes, the app follows limit is 7,500. This is the total number of people that you can follow from one account on the platform.

Question 18

18. How long will it take to process the KYC once I submit it?

Accepted Answer

If the user manages to provide a clear document, and self video and fill in the information correctly, it will take 24 hours to provide the result.
Unfortunately, if the user fails to provide a clear document or self-video or even fails in the wrong information, it will take 2-7 days due to the KYC needing to be reviewed manually. 
Once it has been rejected, it will repeat the same KYC review process and duration.

2.1 Novas tokens