The Future for Nova Finance
The world of crypto has been facing one of its toughest times these past few months. The bear market we have found ourselves in has challenged the foundation upon which many projects have been based, as well as testing even the hardest of investors as it looks like we might be in it for an even longer period. This might be the time to start evaluating a lot of decisions and plans for the future that have been made so far.
However, even in this perilous bear market, one project that has shown consistency and plain doggedness toward achieving its goals is Nova Finance.
Nova’s programmable asset framework will continue to function as a decentralized management layer, allowing people to easily manage their participation and exposure in this new digital horizon.
Over the next few months and even years, there are vital areas that Nova Finance has identified as necessary landmarks and additions that will ensure the development of its protocol. This development will naturally be determined by the governance of Nova Finance Protocol, user feedback from interactions and engagements, as well as the evolution of the DeFi landscape. Among the list of developments that need to occur are the following:
- Third Party Integrations
Nova will continue to develop its integration and connectivity capabilities with various asset classes, functionality, and protocols. The team will also make it easier for other developers to use and interact with the Nova Finance Protocol, allowing them to provide more value to their own user base.
- Multi-Chain Functionality
The importance of Nova’s programmable framework stems from the breadth of functionality and access it can offer users. As a result, it is critical that Nova expands support for a broader range of assets and blockchains in order to provide maximum value to the users.
EVM compatibility and deployment will be a major priority in Nova Finance’s expansion and the assets it supports. But even so, due to the cost and efficiency limitations on certain EVM compatible chains, care will be taken when selecting chains and available functionality to ensure a high quality user experience.
- Meritocratic Voting
Governance in the blockchain space has seen a variety of experiments and versions emerge in recent times, including quadratic voting, incentivization, and delegation models. However, Nova believes that there is still room for improvement in decision-making models.
In this case, meritocracy is the belief that the best ideas are supported regardless of their source or origin. The Nova Protocol will score decisions based on a set of common network values. The best ideas will rank highly across all value factors and will be prioritized and implemented as soon as possible. Those who come up with and support the best ideas will be rewarded for their efforts.
The governance system will be in charge of making decisions about asset integrations, protocol upgrades and modifications, treasury spend, and portfolio assessments. As time passes and the project matures, the network will be given more autonomy in terms of direction and decision making.
Nova Finance has a lot in store for the future and the coming weeks will show a dedication towards making user adoption a seamless process.