Nova Finance, a decentralized finance (DeFi) asset management protocol planned for soft launch in the coming weeks, will enable cryptocurrency experts to build a crypto portfolio available to other inexperienced investors. I pioneered a method.
Built on the Solana blockchain, Nova Finance utilizes a unique module called nAsset. nAsset is a module based on a specific token, whether it’s Solana, Ethereum, or Nova, Nova’s own native token.
nAssets can be programmed to execute specific commands or apply specific investment rules to a portfolio.
For example, ETH-backed nAsset can be programmed to execute a transaction when ETH reaches a certain value, automating the transaction process. Cryptocurrency experts can use nAssets to build portfolios using the Nova Finance framework and program different levels of risk, diversification, and how to manage digital assets held within the portfolio. increase.
Portfolios are programmed with specific trading rules via nAssets and can be shared with other investors. The automated portfolio does all the work and the portfolio creator gets a yield of 10% of the portfolio’s revenue. Nova Finance seeks to lower the knowledge barriers that prevent potential crypto investors from jumping into space by enabling transaction automation.
You can also use PayPal to transfer, send and receive Bitcoin, Ethereum and Litecoin.
Tom Sichel, co-founder of Nova Finance, said: ZDNet.. “It’s like finding a new frontier in economics and finding ways for money to bring value to people and generate wealth through investment. [Adam Greenberg and I,] It was, “How can we take others on that journey with us?” “
Together with co-founder Adam Greenberg, Sichel aims to recognize the potential of blockchain technology early on and make it as accessible as possible to all consumers who are currently interested in this space. However, it has considerable challenges.
“I think the reason DeFi projects are the hardest part is because they’re built and run by engineers. Technology lovers, but that’s not always what they can do, that is, for us. Is really trying to take a user-centered approach. “
As a result, the Nova Finance team conducted hundreds of different interviews and sessions with users to get a real understanding of what they think of users in order to understand how consumers are involved in the Nova Finance platform. They test and retest and do their best to solve consumer problems. According to Greenberg, when mobile products are launched “probably within the next four months,” Nova Finance will make yet another overhaul to ensure a seamless and accessible consumer experience.
Pull back the curtain
Growing up in the Internet age, Sichel and Greenberg are ready to dive head-on into the world of growing cryptocurrencies and blockchain technology. Older investors, or those who are simply not tech-savvy, may find it a bit more difficult.
“The idea came from seeing my dad buy cryptocurrencies for the first time,” says Sichel. “After persuading him, I experienced the reality of educating him about what a wallet is and how to actually buy it. [crypto]And, to say the least, it was a real nightmare. And after actually buying Bitcoin, he turned around and said, “Tom, can you lose half the money from this investment in a week?”
Sichel said the process of explaining to his father how to buy crypto and the risks involved highlighted a knowledge barrier that kept people away from the blockchain space. So Sichel and Greenberg set out to build an encryption protocol designed to encrypt everyone who wants to be part of it.
The Nova Finance team aims to level the playing field so that all investors can increase their wealth and access the tools and strategies normally reserved for experienced investors and institutions. .. According to Nova Finance, DeFi is the answer.
“”[DeFi is] Opening this type of gateway enables many financial operations that were previously reserved only to ultra-high net worth individuals and financial institutions, such as lending and yield-generating opportunities. Therefore, people struggling with this kind of concept and standing in a fair competition are the biggest things we have to overcome, “Greenberg said.
But how can you regain the veil of complexity surrounding DeFi and blockchain? According to Nova, the answer is simple. It just removes that complexity.
“Many protocols say we’re educating more and getting users involved. But our view is to get rid of all the complexity together? And this makes us nAssets. Etching investment dissertations into the asset program and sharing its portfolio with newcomers so they can follow your investment dissertation. “
What is nAsset and how can it be used?
Buying and holding crypto in either a hot (physical) or cold (digital) wallet is only the first challenge investors will overcome. Once you own a digital asset, you then need to learn to manage it in the right way to maximize your profits. That’s where Nova Finance’s nAssets and pre-built crypto portfolios come in.
Also, Samsung Wallet will be available to integrate multiple services into one app.
At launch, Nova Finance will feature a portfolio created by the Nova Finance team, according to Sichel and Greenberg. The portfolio is programmed with nAssets and leverages the team’s considerable knowledge of cryptography and investment strategies. However, after the launch of Nova Finance, the team wants to build a community around an innovative investment portfolio.
Nova token holders can vote on the validity of their portfolio based on a number of certain investment criteria. Criteria include diversification, risk tolerance, and the type of technology included in the portfolio.
“What we are trying to do is basically use this community to enable people to get the best investment opportunities through evaluation,” says Sichel. Investors who use their profitable portfolio early and let other investors know by voting with Nova tokens can get the most benefit from their investment.
“There are creators who create portfolios, curators who use Nova tokens to evaluate and curate portfolios, and investors who allocate capital. This is the synergy we are trying to build between these three. [facets]”Sichelle said.
In addition, by implementing the ability for teams to tokenize, nAssets will be able to provide investors with even more usefulness. Once nAsset is tokenized, owners will be able to use the token with other protocols and networks, providing significant interoperability for Nova Finance.
“Can be tokenized [nAsset] And because it’s a token, it can be used in different protocols, “Sichel said. “This allows system interoperability to work with other protocols, such as PortFinance. [consumers] Get a loan against [their] Cryptography “
Also: DeFi: Injective adds Solana, Avalanche, Polygon interoperability with Wormhole integration
This means that in the future, nAsset owners will be able to tokenize investment rules created in Nova Finance and use those tokens as collateral for Port Finance to obtain loans. The team also aims to support nAssets with stable coins such as the Hubble Protocol. “Therefore, as DeFi creates more and more economic use cases, the benefits of nAssets will increase,” says Sichel.
Educate the masses
Automating investment strategies and building consumer collateral are not the only ways Nova Finance aims to lower DeFi barriers. The team is also building the Nova Academy, a key factor in onboarding consumers into crypto space.
According to the team, the academy will focus on educating users about the basics of cryptography, such as what a wallet is, how to set up a wallet, and other basic information. The team wants its nAssets to handle the more complex aspects of crypto investment and remove some of the consumer pressure.
Also: Blockware solution for building a 150 MW Bitcoin mining facility in West Virginia
Nova Finance plans to launch Solana Mainnet softly in the coming weeks. The team is using dummy tokens, running tests for several months, and running for a devnet period. They have recently launched an audit by Certik, which measures the security of the blockchain protocol, and will release it when it is complete. With the release of Nova Finance, the team wants to fine-tune the experience with user feedback to create the best asset management protocol available to investors.
“The soft launch is coming in the coming weeks, so definitely check it out and give us feedback. If they hate it, especially listen to it,” Greenberg said.
