Governance & Tokenomics
How is the Navigate network governed?
Over time, the Navigate Foundation will transition key governance functions over to the community through a decentralized autonomous organization (DAO). This DAO will be responsible for voting on platform upgrades, digital asset curation, incentive management, and more.
What is the NVG8 Token used for on the network?
NVG8 will be an ERC-20 token used to bootstrap network effects, facilitate governance, and access products and services across the Navigate ecosystem.
Can I transfer NVG8 Tokens beyond the Navigate platform?
NVG8 will be compatible with the ERC-20 technical standard, making it Ethereum compatible. This means that long term, NVG8 could be transferred to other compatible blockchain networks and sold beyond the Navigate platform. Initially, NVG8 tokens provided through user rewards will be non-transferable until Navigate’s initial token offering. For more information, check out the detailed section on Tokenomics.
Can I operate on the Navigate platform using MATIC tokens?
The NVG8 token will be the primary medium of value exchange throughout the Navigate platform. However, users will need to use MATIC tokens to pay for network gas fees.
How are rewards calculated?
For a deep dive on user rewards, check out our Tokenomics document here.
What is required to receive rewards?
To receive rewards, you need to connect your ERC-20 compatible wallet to the Polygon network before submitting data. Once your submission is approved, rewards will be sent to your wallet.
When will rewards be distributed to my wallet?
Once your data submission is approved, rewards should appear in your wallet within 15 minutes.
What is the process for approving and/or rejecting data submissions?
Once your images are uploaded, the Navigate Platform will process the dataset and ensure it meets the Data Vault requirements, such as proper file size. The Navigate Foundation has appointed a quality committee to assist in reviewing these submissions in the near term. Overtime, this process will become increasingly automated as we introduce tools to review uploads. We also plan on decentralizing the quality committee by electing community members to support content review and moderation. Community members who serve on the committee would be entitled to NVG8 rewards for their work.
I submitted data, but I didn’t receive any rewards. What happened?
It’s possible that your data was not approved, or the transaction is pending on the network. If your data was approved and it has been a significant amount of time since submission, feel free to reach out to us at [email protected]
Why can’t I transfer my NVG8 tokens?
NVG8 tokens will be non-transferable leading up to our initial token offering. At that time, you will be able to trade and stake.
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