NVO Community Platform

Building the decentralized future.

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Frequently Asked Questions

What does NVO mean?

New Venture Organization - meant to take on new technology in a decentralized economy.


What is the NVST token good for?

Holders of the NVST tokens own the rights to future distributions of fees from the NVO exchange, similar to a stock dividend. 50% of all fees associated with the exchange will be distributed to the NVST holders on a weekly basis. The fees are tentatively set to start at 0.2% of all transactions that take place on the NVO distributed exchange.


Why is there a NVOT token?

Due to the actions taken by a cybersquatter, the NVO team had to change the asset names from NVOT/NVOS to NVST and NVXT, respectively. The NVO white paper has been updated to reflect this change. Any NVOT tokens you were expecting to receive as a result of the crowdsale have been replaced with NVST tokens. If someone offers you NVOT, DO NOT buy them.


Where to find the whitepaper?

You can follow this link to navigate to the whitepaper.


What is the NVSX token good for?

When the NVO distributed exchange is fully operational, NVST token holders will be paid their portion of the exchange fees in NVSX tokens, which may be redeemed for Bitcoin at a rate of $0.99 USD per NVSX. This process is planned to be automated through the NVO exchange and wallet in the future, where it will be possible to automatically convert NVSX into Bitcoin.


Crowdsale

How much was raised in the crowdsale?

The crowdsale allowed payment in a variety of cryptocurrencies, but after conversion from all the altcoins into Bitcoin, the approximate raise was 3,050 Bitcoins, which at the date of conversion were approximately $7,79 Million USD. Dividing the raise by the 15,000,000 NVST tokes issued means 1 Bitcoin purchased approximately 4,909 NVST tokens.


What was the ICO price?

The token was sold for $0.519.


Why are 15 million of a total of 30 million tokens burned?

Creation of a Counterparty asset is an irreversible action. There was a bug in the token generation process which inadvertently created the 15 Million tokens twice. The NVO development team permanently sent the second 15 Million tokens to a verifiably unknowable address, called a 'burn address'. Counterparty was started with the concept of an unknowable address being used to 'burn' bitcoin. Information about 'burning' cryptoassets is available in more detail at counterparty.io


Why can't i see the NVST tokens in my bitcoin wallet?

NVST tokens are a Counterparty asset, and while they use Bitcoin transactions to move from one address to the next, they are not directly tied to the Bitcoin protocol. Standard Bitcoin wallets and blockchain explorers are incapable of reading the Counterparty data. To see what Counterparty assets a specific Bitcoin address contains, use a Counterparty explorer such as https://xchain.io. A more detailed explanation of what Counterparty actually is is described in this FAQ entry


I didn't use an counterparty wallet address to receive my tokens from the crowdsale. What can i do?

This is a very broad question that is asked often. Another memebr of the NVO investor community has created a detailed howto, which is available at steemit.com. Additionally, a tool to assist you in sweeping your tokens using the private key of your existing address is available on Github. If you have additional questions, please visit the official NVO Slack channel.


Exchange

Why isn't NVST traded on any centralized exchange?

Since the token is used for the coming decentralized exchange, most of the centralized exchanges see the NVST token as a rival and therefore don't accept listing it on their platform.


When is the DEX going to be operational?

According to the NVO white paper, the development of the NVO Distributed Exchange was originally estimated to be 6-10 months from the close of the crowdsale. Since the team is ahead of the development by around 2 months the estimated date will be around March instead of May 2018.


Where is the NVST token traded?

At the current stage the token is only available on the Counterparty exchange.