Newv Finance Whitepaper Version 2.4
Newv Finance Version 1.0 has been examined and tested and proven valid on the Huobi Eco Chian (HECO). The protocol and mechanism designed by the Newv Finance Team have already seamlessly completed the autonomous presale process, liquidity staking process, and dividend distribution process. The new and forward-thinking project launch method developed by the Newv Finance Team will surely become the mainstream trend for launching new projects in the decentralized world. The AMM algorithm solves the problem of a lack of liquidity for projects in their early stages, and the dividend distribution mechanism designed by the Newv Finance Team balances the initial Token supply and demand relationship.
Despite the experiment lasting on HECO for only a total of three days, the results were amazing. Firstly, there was a maximum 500% increase in the price of NEWV and the price was still 10% above the presale price when the migration snapshot was taken. Secondly, there were over 1,000 users participated in the Newv Finance Protocol by way of the token swap or by providing liquidity. At the same time, our community burst to over 3,000 members. And, of course, most of the people who participated in the pre-sale have already turned profitable, which means a lot to us.
After seeing the successful launch of Version 1.0 on HECO, and also noting the areas that had room for improvement, we decided to suspend the operation of Version 1.0 and migrate all tokens currently held by users to Binance Smart Chain (BSC). Given the extremely bright future ahead of Newv Finance, the cost of migrating to BSC is well worth it. We are very pleased that this chapter of NewV is able to close with everyone happy and optimistic about the future, and we believe that a solid foundation has been laid for an even more exciting journey ahead.
The following issues were identified in the Newv Finance 1.0 Experiment:
1. The market reacted very positively, but the user base needs to be broadened.
2. The proportion of the team’s LP had a downward trend, which meant that the liquidity provider’s dividends decreased linearly.
3. The token release mechanism was not smooth enough.
4. The deflation mechanism needs to be adjusted somewhat.
5. Projects carried out in this way need a real source of income in order to maintain dividends.
We will do our best to address these issues in Newv Finance Version 2.0.
The Newv Finance white paper 1.0 mainly describes the operating mechanism of a new project, and it creates some possible application scenarios. As with other projects, the white paper 1.0 of Newv Finance also emphasizes the development mission and visions. It mainly addresses the experiment of using the protocol and mechanism designed by Newv Finance to assist projects in transiting from the initiation stage, to the development stage, to maturity. It can be said that Newv Finance was born to smoothen project launches. Most problems encountered by projects in the project initiation, project development, and maturity stages can be aided by the NewV solution, regardless of the industry. Our vision is to run a company fully on the blockchain and to share the fruits of that with more projects.
3.0 Complete Operating Mechanism
The development of most projects on the blockchain relies heavily on price, which puts enormous pressure on the project team to constantly maintain the token price. It is important to relieve the project team of this burden in the early stages so that they can focus on developing the project and, once the project has been fully developed, the token price can more accurately reflect the actual project. So, the question becomes then, how can project teams unshackle themselves from price pressures in the early stages of the project. The following, we believe, are the characteristics of projects that receive support from users in the early stages.
- High project expectations
- Reasonable deflation mechanism for project token
- A mechanism for continuous dividend distribution
- Promising token usage scenarios
Among these characteristics, 1 is price-related, while characteristic 4 is the main driving force of a project product. Newv Finance will focus more on characteristics 2 and 3.
For characteristic 2, it is necessary to add some token burning scenarios to simulate the conditions in the future when the token will have actual usage scenarios. For Newv Finance 2.0, we plan to adopt a unique token burning mechanism that will be further explained in the next section. Characteristic 3 is mainly about offering some incentives to entice users to use the products (this is common practice in the IT industry). In the early stages of a project, incentives are used to cultivate user habits and, later, once the product is stable in the later stages, users will stick with the project without incentives as their habits will have already been trained into them.
In Newv Finance 1.0, a portion of the funds raised in the presale was used as the dividend pool.
Because this was not able to replenish itself, the dividend pool would eventually be exhausted. This was inevitable. For good projects, dividends in the later stages will be filled by actual profits generated by the project. A dynamically balanced dividend pool is what is most ideal.
The construction of the complete ecosystem of Newv Finance 2.0 consists of the following modules:
- Token Issuance
- NEWW-BNB LP Staking
- Sustainable Business Model
Full token name: Newv Finance
Newv Finance 2.0 plan is referred to as a “Double V” plan, and so the name of the Newv Finance 2.0 token will be changed to NEWW. The amount of Crowdsale tokens accounts for a constant proportion of the overall token supply, and the result of the Crowdsale determines the number of tokens that will be minted.
Token Supply = V1 Supply + V2 Supply
14% Pancake Liquidity
10% Team (Locked, to be released 0.1%/day)
36% DAO Reserve
The Deflation Mechanism of NEWW
3% deducted as tax for each transfer
2/3 of tax is added to the Farm pool as the mining reward (Please refer to section 6.1)
1/3 of tax contributes to the income of Newv Finance project team
For traditional projects, sources of funding are almost always external financing. For projects on the blockchain, crowdfunding is another major fundraising method. ILOs should have a complete logical operating mechanism as funds raised in crowdfunding become the initial capital of the project.
5.1 Crowdsale Price
1 BNB = 1,300 NEWW
For every 1,000 BNB raised, the number of NEWW you can get for each BNB is reduced by 100.
For example: Once 3,000 BNB have been raised, 1 BNB = 1,000 NEWW
5.2 Crowdsale Start Time
The Crowdsale lasts for 6 hours (Start time to be announced)
For every additional 500 BNB raised, the Crowdsale timer will be extended by 1 hour
5.3 Hard Cap
4,000 BNB, allowing the last transfer to exceed
5.4 Personal Limit
Maximum: 100 BNB
Minimum: 1 BNB
5.5 Token Release Rules
Once the Crowdsale has finished, an Admin from the Newv Finance Team will call the contract to release the NEWW tokens. Your NEWW purchased during the Crowdsale will be released at a rate of 2% of your remaining unreleased balance each hour. You can withdraw all NEWW tokens at once if no withdrawal was done in 50 hours. Once NEWW has been released to you, you can withdraw them at your own pace.
5.6 Initial Liquidity on Pancake
50% of the BNB received from the Crowdsale will be locked to Pancake automatically by smart contract as the initial liquidity once the Crowdsale has finished.
5.7 BNB Distribution Plan
50% Pancake Liquidity
5% Contract Auditing
10% DAO Reserve
Farming may be new to users from Newv Finance Version 1.0. The objective is to balance the internal circulation and redistribute NEWW Tokens. BUSD and WBNB farm pools will be the first two pools that will be available, both with the same mining rate.
6.1 The Source for the Farm Pool (NEWW)
- When NEWW-BNB LP is extracted from the liquidity pool, 50% of NEWW will be added to the Farm pool, while the other 50% of NEWW will be permanently destroyed.
- 3% is deducted as tax for each transfer, with 2/3 of the tax added to the Farm pool as the mining reward.
- NEWW will be distributed to Farm participants instantly once the NEWW income listed above is received.
This is a reasonable token redistribution mechanism that doesn’t lead to inflation.
6.2 Farm Cost:
5% of BUSD/WBNB will be charged as a fee when the mining output (NEWW) is withdrawn. No fee will be charged if you don’t withdraw the mining outcome (NEWW). The mining output (NEWW) will be fully destroyed when you withdraw BUSD/WBNB.
6.3 Invitation Mechanism:
If address B is invited by address A to enter the Farm pool (using the link with the invitation code),10% of the fee deducted from address B will be awarded to address A.
Given that the protocol designed by Newv Finance will be a super protocol, we may use the LP of cooperating projects as new staking pools.
One of the problems discovered in Newv Finance Version 1.0 is that with the continuous dividend distribution, the proportion of the team’s NEWW-BNB LP to the total LP continues to decline. This does not help in keeping the price in an upward spiral. So, we have been considering how to provide a steady positive flow into the Boardroom.
7.1 Boardroom Inflow Source
- 90% of the fees charged in the farm pool will be used as LP in the Boardroom
90% of BNB from the fees charged in the farm pool will be staked with the NEWW from the DAO reserve. The fees charged in BUSD will be swapped to BNB and then staked with the NEWW from the DAO reserve. This will increase the team’s share of the LP while maintaining a steady stream of profit.
2. The real continuous cash flow will be from the income when the protocol designed by Newv Finance is adopted by other projects.
7.2 Dividend Mechanism
- Just as with Newv Finance Version 1, users only need to stake NEWW-BNB LP in order to be eligible to receive dividends.
- 0.001% of the NEWW-BNB LP that belongs to the Newv Finance Team will be calculated and extracted from Pancake each block. The LP to be extracted will be accumulated until someone calls the contract to apply for the LP extraction (0.001% * number of blocks * current liquidity pool).
- 50% of NEWW will be sent to 0x000000 for destruction, and another 50% of NEWW will be sent to the farm pool as the mining reward. Meanwhile, BNB will be distributed to each NEWW-BNB Liquidity provider as a dividend reward.
7.3 Lock-up Mechanism
Dividends will be distributed to different pools according to the lock-up period. The lock-up period is 3 days, 7 days, and 15 days, where the dividend distribution ratio for different pools are 10%, 20% and 70%, respectively. Dividends can be withdrawn at any time.
8.0 Business Model
While the above model appears to be a small and complete deflationary, closed-loop economic model, our goal is far from that. Once the model has been recognized by the market, the superiority of our protocol will become even more apparent. We intend to work with many more promising and innovative projects. Regardless of what future adjustments may need to be made to our mechanism, our original intention remains the same. We will endeavour to make the launch of the project much smoothers and use our experience to help other projects. With everyone pitching in, a better blockchain ecosystem can become a reality.
In the next stage, we will build an innovative Presale/IDO/ILO platform.
- While there are no pre-conditions for submitting an ILO proposal to us, we do conduct KYC on the team and thoroughly check into their backgrounds.
- Project initiators can customize the ILO goal, duration, exchange ratio, personal cap, Softcap, Hardcap, LP staking ratio, and LP staking duration.
- Any ILO that does not achieve Softcap will be considered failed and funds will be returned to investors.
- For projects that already have an ILO plan, they can choose whether to use Newv Finance’s model at the time of submission. A part of the LP can be used to encourage users to become liquidity providers.
- You will see a large number of high-quality projects that have been pre-approved.
- Clearly, BSC users are tired of the hypocrisy, the quarrels and the rug pulls. Newv Finance intends to improve ILOs across the entire BSC ecosystem.
All projects wishing to cooperate with Newv must create the following value for NEWW holders:
- The project team needs to purchase NEWW tokens equivalent to 0.5% of the total circulation and transfer that to a specific address for destruction (After the project has been audited and approved)
- 3% of the funds raised in the ILO will be collected by Newv Finance. This part of the income will be distributed to Newv Finance’s community as a dividend (The details are to be announced).
- If a new project uses Newv Finance’s model, 50% of the tax charged by the project team will be allocated to the Newv Finance’s community as a dividend (The details are to be announced).
9. Contract Auditing
Once the original contract is ready. It will be passed to one of the best BSC smart contract auditors in the space for a comprehensive audit. The report will be open source and added to the website. Anyone from the community can review it and provide their feedback. Plans are also in the pipeline to organize a bug bounty program for the community.
10. Vision and Strength
1. Fully transparent and disclosed smart contracts.
2. LPs will be automatically locked once the Crowdsale is finished.
3. All processes will be handed over to the smart contract for execution without interference from the team once the Crowdsale is finished.
4. Strong marketing.
5. The vision shared by Newv Finance Team and users: to make the launch of projects as smooth as possible.
6. Provide start-up solutions for more new projects and build a stronger Binance Smart Chain
- Newv Finance Whales, your valuable feedback really helped us to recognize our weaknesses. You guys even stepped up and helped to publicize the project. This was much appreciated.
- Professor Chellaney, thank you for your suggestions on some improvements to the algorithm for our smart contracts.
- Everyone in the Chinese community really helped to promote Newv Finance version 1.0 in the Chinese market.
Everyone on the team, with the help of everyone, is on the way to changing all of our destinies.
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WP Version 2.4 Update: The accumulated LP for the Boardroom can up to 1%.