Investor Insurance & Reward Fund
Details of the investor refund & reward protocol
Note that the insurance and reward fund system is at its infancy stage and there are many plans for expansion and upgrades in the forthcoming future.
What is the Investor Insurance & Reward Fund System?
This system was implemented into NovoPad with investors in mind to be refunded in exceptional circumstances via a special contract.
Every person you likely know that has invested in the DeFi space has suffered a loss from a rogue project at some point or the other.
This can be for various reasons, from clear rugs to devs giving up, this scheme is strictly for investors that lose funds due to these criminals & malice networks that knowingly and purposefully steal investors funds.
NovoPad and the Novoos team have strict measures and checks in place for projects that are part of the Tiering system which includes KYC, audit(s) amongst other criteria.
This includes public information and also data Novoos holds internally for due diligence as per the internal protocol.
The standard projects that hold sales on NovoPad without a tier are not eligible for refunds or rewards, these are High Risk projects.
A portion of the initial NovoPad presale will be used to add to the Investor & Insurance Fund.
What is the criteria to get a refund?
A project must have been part of one of the NovoPad Tier Systems.
Initially the Investor Insurance & Refund Fund will only be eligible for those that invested in presales.
If a project goes rogue and clearly liquidates investors or in anyway scams investors after Novoos carries an investigation and finds factual information that such an unlawful act was committed.
Where do the funds come from?
From the fees charged on the launchpad.
Through a percentage of the tax from the NAC contract every fortnight.
Via the various ecosystem branches fees.
Partnerships
Donations from prominent companies & individuals Novoos will conduct business with.
Ads on NovoPad
This is the beginning of change to give back to investors and not simply take, this list and criteria will be revised with the help for the community through suggestions and recommendations as well as the plan of Novoos for the future of NovoPad.
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