NovaDeFi: Weekly Report #1

Since this day, 2nd of November, NovaDeFi Team will be providing weekly reports to cover all possible changes that we are working on right now and will work on in near future.

Mining Farm Update

At current time, NovaDeFi Mining Farm operates with a total of 400 GPUs (around 15.8 GH) mining Ethereum, which produce a revenue from 1 to 1.5 ETH based on mining statistic.

Mining Statistics:

During the time of NovaDeFi operational cycle, we bought back and burned 137, 973 NMT Tokens and distributed 36,027 NMT Tokens to staking participants.

Mining Output Address (Burning and Staking):

First Community Governance Proposal

BTC Dominance started to climb up drastically and affected the NMT Price. With that in mind, we came up with idea to initiate the first community governance proposal, where each of you will decide should we make 100% of mining rewards be used for buyback and burning for whole month instead of current 50%. Voting will take place in Telegram via Poll and will last for 3 days.

New VC on Board

We are thrilled to share the news, that we negotiated a deal with one VC investor sharing our views and goals for DeFi Space. The deal consist of 800,000 NMT Tokens bought in OTC at ~market price. We are happy to receive this kind of support and hope this will affect NMT Development and Farm Outputs in positive way.

Development Update

Our development progress is focused on 2 things, that our community can use in near time:

  • NMT Exchange (Centralized)
  • NovaDeFi Wallet (Android for now)

Both products are nearing the finish line, we will provide some sneak peaks during this week.

Team Tokens Release

At 1st of November NovaDeFi Team will initiate the unlock of Team Tokens — 225,000 NMT will be distributed across team members for salary purposes.

5 Members of MultiSig Wallet must agree to perform this action. Any of you can monitor the activity at this address:

Since 1st November, Team Tokens Release will be done as before without 50% cut applied, but to prevent any big unlocks it will be split into weekly releases, which makes it to 112,500 NMT tokens per week.

Interconnecting industrial mining capabilities with next generation decentralized finance solutions.