3.3 Content Creator
Everyone can create content at Nova. However, in our network, after you have passed KYC verification, as a content creator, you can earn a token reward and penalty system for 7 days. As your posts will be upvoted or downvoted by other content readers, you will earn / lose Novas Plus token balance as follows,
Each upvote = 0.002 x voters ‘ countries ad value from 1 - 10
Each downvote = -0.002 x voters’ countries ad value from 1 - 10 (for a detailed explanation of the country's ad value please refer to section 2.2) token by active users who voted. The voting base rate will be adjusted to 0.001 when Nova Network has recorded 10 million registered users worldwide.
This reward does not apply to creators who repost for user posts or share comments with other user posts.
This reward and penalty system liberates the power of deciding which post should appear first in the discovery wall and determine the content value and content rewards for content creators, hence it ensures content creators upkeep their content quality.
3.2 As Team Leader
Team leader will earn a bonus earning rate as follows,
Novas token: 25% bonus earning rate per active user in your team. For example, if your own earning rate is now 0.48 N / hour and you have 10 active users (active means they have also initiated their 24-hour earning session) in your team, your total earning rate will be 0.48 (base rate of your own earning) + 10 x 25% x 0.48 (team bonus) = 1.68 N / hour.
Novas Plus token (after you have completed KYC verification): 25% bonus x earning rate per active user in your team x teammate’s corresponding country multiplier. For example, given the base rate is 0.048 N / hour, a user with 40 active users in his team and all of the 40 users are located in United States (where US’s country ad value is 10x), the team bonus earning will be 0.048 x 25% x 40 x 10 = 4.8 N / hour
You may find a detailed explanation regarding team bonus and country ad value for Novas Plus token’s multiplier in section 2.2.
Remark: The bonus earning is calculated based on the overlapping time between your own earning session and teammate's earning session.
3.1. As Content Reader
Prior to completing KYC, users can only initiate earning sessions for Nova tokens. When a user has clicked the earning button on the app’s homescreen, the user's Nova token balance will be grown at the rate of base rate + number of active users in his team x 25%x base rate for the next 24 hours. The token balance will be grown again when the user has initiated another 24-hour earning session after the current one ends. Users without passing KYC are not eligible to earn Novas Plus tokens and not entitled to other bonus features like drawing power-up and voting rewards.
After completing KYC (which KYC slot will be granted when a user has checked in consecutively for a number of days), when the user clicks the earning button he will earn both the Novas token and Novas Plus token together with the content reader/content creator bonus reward.
Users (Non-KYC/ KYCed) will also enjoy an enhancement in earning rate by 0%, 5%, 10%, 15%, 20%, 25%, and 30% on the 1st - 7th day if they have consecutively started mining for 7 days. The bonus streak will cease and need to be restarted again if a user has missed any date of the mining.
Users will also be eligible for drawing power-up 2 times per 24 hours. Upon each drawing the user will enjoy an additional earning rate (anywhere from 1% to 100%) according to the random drawing result. Users can initiate the 1st draw without accomplishing any mission,the 2nd draw upon voting 3 posts upvote or downvote.
Users, who have passed KYC, can also earn an additional 0.002 Novas Plus token x your country’s advertising value (refer to section 2.2) for every upvote and downvote they have voted on other users’ posts, the voting earning is capped at 10 times per day. The voting bonus base rate will be changed to 0.001 when Nova Network has recorded 10 million registered users worldwide. This serves as one of Nova Network’s initiatives in liberating the power of what content to be displayed in the discovery wall to users and determining the content value and content rewards for content creators, hence encouraging all content creators to upkeep their content quality.
3. Token Economy within Nova Network Social Media Ecosystem
V1.0 15 July 2022
V0.6 May 2023