SNT is the decentralized digital currency that powers Nova Network's entire ecosystem. It's global, digital money that can be used by anyone, anywhere. Every time you interact with Nova Network, you'll pay a small fee in SNT. This fee is in place to prevent spamming attacks on the network, to reward the validators processing and recording your transaction into the network's public ledger, thus making the whole ecosystem free of any centralized control. In short, SNT powers Nova Network in its very core, and without SNT, there couldn't even be a Nova Network. Use SNT to:
• Pay for network usage fees on Nova Network;
• Participate in securing the network by becoming a validator;
• Process cross-border, trustless, and fast payments and transactions;
• Exercise on-chain governance;
• Pay for products and services;
• Provide liquidity;
• Earn via staking and yield farming;
• Buy NFTs and other digital goods;
Name: Supernova Token Symbol: SNT Standard: Native/ERC20/BEP20 Available Networks: Fantom Opera, Nova Network
Nova Network (Wrapped):
We have created a reference scheme for using Supernova Token denominated units of account. Supernova is a decimal currency, and each unit can be further split into 18 decimal points for lower amounts' referencing or precise accounting. Below a table of nomenclatures to be used while referring to Supernova denominated units of account:
Supernova Tokens can be abbreviated as SNT, which should be used before the units being referenced. Example:
SNT 100in representation of one hundred units of Supernova Token.
Supernova Tokens can also be represented by its symbol, N$, which should be used before the units being referenced. Example:
N$ 100in representation of one hundred units of Supernova Token.
You can use and may see in a lot of our platforms the Supernova symbol and abbreviation being used interchangeably.
SNT token economics promote fair distribution amongst the community, scarcity, and holding incentives for users. A small portion of its supply is burned every time a user sends a transaction on Nova Network, and this ensures balance to the inflationary nature of the tokens, as they are used to pay for block rewards in the network.
There were SNT 10,500,00 (ten million five hundred thousand) pre-mined in our genesis block, and about SNT 2 are produced every time a block is sealed on the mainnet. This brings a relative inflation of about ~SNT 4,000,000 per year with the network averaging 15 seconds between blocks.
Pre-Mined Supply: 10,500,00 Block Rewards: 2/block
There were SNT 60,000,000 (sixty million) minted on Fantom Opera, on a hardcap smart contract, and out of the total supply there is a SNT 10,000,000 (ten million) allocation for burning events.
Max Supply: 60,000,000 Burned to Date: 2,800,000 Total Supply: 57,200,000 In Circulation: 37,169,354.0187495
SNT is available in multiple networks. You can use the standard mainstream bridges to use SNT in the major networks, and to bridge from these to Nova Network we recommend you use our native and proprietary bridge on Fusion.
New SNT is created on every block mined, thus bringing an inflationary element to the economics of the coin. Because the same average SNT is produced every year against a steadily growing supply, it is expected that the inflation rate will lessen as years go by, and this will also be countered by the built-in burning mechanism that burns part of the fees used to pay for transactions.
Expected Inflation Rate:
2* SNT per Block * ~ 2M Blocks per Year = SNT ~4M/Year
Nova Network distributes part of the gas fees used to pay for transactions to the validators, and part of these fees are automatically burned by the protocol.
Out of the total supply, 50,000,000 tokens were - or will be - allocated to be distributed to the community in different stages of the project.
A total of 10,000,000 tokens have been set aside for community incentives, staking, and farming rewards, both on Fantom Opera and Nova Network.
Development Incentives & Operations (5M Fantom Opera | 5.5M Nova Network)
A total of 10,500,000 tokens have been set aside for assisting protocols and platforms to deploy on Nova Network, and to pay for operational expenses, such as salaries, etc. We have used a good part of the Fantom Opera portion of these allocation in our NBK buyback program.