Nova Finance: Making Decentralized Finance Accessible

The term “Solana” is no longer novel, especially if you have been involved in the cryptocurrency space for some time. Solana (abbreviated SOL) is a Layer 1 blockchain designed to address some of the Ethereum blockchain’s inefficiencies. As a result, it has faster transaction times, more transactions per block, lower transaction fees, and a proof of stake consensus mechanism rather than a proof of work consensus mechanism.

All of these properties, and more, make the Solana blockchain appealing to developers looking to create the next generation of dApps and projects. Various projects have been built on the blockchain since its inception. This article will concentrate on one of these projects, Nova Finance.

Nova Finance is a DeFi asset-management protocol that pioneered a method for cryptocurrency experts to build crypto portfolios for other, less experienced, investors to use. This protocol is based on the Solana blockchain and employs a novel module known as a nAsset. An nAsset is essentially a module backed by a specific token, such as Solana, Ethereum, or Nova Finance’s own native token, $Nova.

These nAssets can be programmed to carry out specific commands or apply specific investment rules to portfolios. This allows crypto experts to use nAssets to create portfolios using the Nova Finance framework and program them with various levels of risk, diversification, and instructions on how to manage the digital assets held within the portfolios.

Following the creation of the portfolios, these experts will be able to share them with other investors. The automated portfolios do all of the work, and the portfolio creators receive a 10% return on their investment. Nova Finance aims to lower the knowledge barrier that prevents many would-be crypto investors from entering the space by allowing trade automation.
While we wait for the proper launch of the mobile app, Nova Finance has released a preview of what automated strategies will look like in their Nova Beta. The strategies are as follows:

  • Take Profit –This is a straightforward, short-term strategy that allows you to sell a portion of your volatile crypto assets, convert them into stablecoins, and either stake or place them in liquidity mining pools.

In Conclusion

Through automation and education, Nova Finance aims to make DeFi accessible to all investors. The asset-management protocol aims to level the playing field for anyone interested in entering the cryptocurrency market.

For more information visit

Website:https://novafinance.app/
Discord:
https://discord.com/invite/WYVUSn56ac
Twitter:
https://twitter.com/NovaFinance_
Medium:
https://medium.com/novafinancedefi
Telegram:
https://t.me/NovaAnnouncements

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