On late November 2022, Nova Network Foundation was created to enable Nova Network - the blockchain - to become decentralized and independent. It inherited all the intellectual property related to the blockchain network, as well as ownership of several on-chain contracts, assets, and SNT that was previously held by Nova Network Inc. It is meant to have no central ownership or CEO, and to be ran entirely by the community through a decentralized and democratic governance system, based on SNT - the network's native currency.
Because Nova Network Foundation does not have a domicile, is non-jurisdictional, and has no CEO, it isn't an incorporated entity, and its very existence depends exclusively on the community that surrounds it.
Constitutional Mission Statement
Nova Network Foundation is the entity responsible for the continuous development of Nova Network - the blockchain - and the implementation of community governance proposals. It is to be decentralized and ran entirely by the community, for the community. It is to be independent, apolitical, and strictly bind by this constitutional mission statement.
Nova Network - the blockchain - is to exist independent from the Foundation, and the Foundation will always take the necessary steps to ensure that the existence and continuity of the blocks production by the network is never entangled to its own.
The Foundation shall never seek profit, and always re-apply and re-invest the proceeds of its activities into the network, always focusing on the achieving of its core mission.
The Foundation has as its core mission to:
Coordinate the development of Nova Network - the blockchain - defining roadmaps and working alongside third-parties to ensure milestones are being met and progress is always being made.
Define an initial governance structure to allow community participation in the Foundation's affairs, including the development and implementation of changes to the network's source code.
Promote innovation and development on the protocol level via incentives, grants, and community participation, always prioritizing professional and compliant applications.
Ensure the network's public ledger always have a set minimum number of validators running and at least one publicly accessible RPC endpoint at all times.
Ensure the fair distribution of SNT and economic policies that favors and rewards the long-term holding of the asset.
Drive adoption of Nova Network and SNT by the global community of individuals, businesses, institutions, and governments.
Facilitate partnerships with and between third-party individuals, businesses, institutions, and governments.
Help shaping legislation and regulation of the digital assets' space on different jurisdictions across the globe.
Change the way you interact with money and tokenize value.
Nova Network allows fair creation and distribution of value among its users.