The NovaDEX protocol shareholder's token.
The sNova token is the second token distributed by NovaDEX protocol farms as a reward for providing liquidity. It is the counterpart of the Nova token, and represents shares in the NovaDEX protocol.
By holding sNova in your wallet
(YOU DO NOT NEED TO STAKE IT)
, you become an investor in our project, and you will be rewarded with a portion of 75% of the swap fees, every block, proportionally to your share of the sNova circulating supply! The dividends will be paid in BNB and BUSD from the "Money Pot".
Blockchain: Binance Smart Chain (BSC)
The SNova tokens cannot be bought like other tokens and can only be obtained by farming a Nova token liquidity pair.
To sell your sNova tokens, you will first have to swap them for Nova. You can do this at any time, but please be mindful of the following:
The ratio between Nova and sNova is 1:1 only after you've held them for at least 72 hours. If not, there will be a 30% reduction in the above ratio (1:0.7 ratio).
For example :
- 1 sNova after 72 hours will always give you 1 Nova.
- 1 sNova after 48 hours will give you only 0.9 Nova.
- 1 sNova after 24 hours will give you only 0.8 Nova.
- 1 sNova just after harvesting it will give you only 0.7 Nova.
Please note that the above will be calculated the basis of Average Holding Time (AHT), which will take into account all of your hold history. For example, if you have been holding sNova for 7 days, those 7 days will be taken into consideration when calculating the average staking time.
All sNova swapped to Nova is burned.
This mechanism, will readjust the repartition of the benefits of the protocol and favor long term investors instead of investors with a short-term vision, guaranteeing a fairer and more sustainable NovaDEX!