Comment on page
With each contribution to the Navigate Platform, users receive rewards in the form of Navigate Points.
You can think of these points as virtual rewards that can be used to redeem gift cards and items in the Navigate Marketplace. To learn more about how to calculate points for each upload and how to redeem items in the Navigate Marketplace, take a look through our docs below.
Navigate aims to accelerate app innovation by aligning the incentives of data consumers and providers. In pursuit of this vision, we are introducing the NVG8 token. NVG8 will be an ERC-20 token used to bootstrap network effects, facilitate governance, and access products and services across the Navigate ecosystem.
When users upload data to the Navigate platform, they earn points which can be redeemed for gift cards on the Navigate Marketplace. Prior to our public listing, users will also be able to redeem their points for NVG8 tokens.
Previously, users were directly provided NVG8 tokens for Navigate Maps contributions, which required a digital wallet. To streamline the contributor process, users are now provided Navigate Points as a part of Navigate's virtual reward system. If you had previously connected a wallet to Navigate and earned NVG8 tokens, you have been given a Navigate point for each NVG8 token in your wallet! Any previously earned NVG8 tokens are still in your wallet and will remain non-transferable until a public listing at a later date. In the meantime, you can keep earning rewards - now in the form of Navigate Points - that can be used to redeem gift cards in the Navigate Marketplace. As mentioned above, prior to a public listing, users will also be able to redeem earned points for NVG8 tokens, which will be transferred to a digital wallet.
One billion NVG8 tokens were minted on September 15, 2022 and vest over the course of 5 years. The initial allocation is as follows:
29.3% of the total supply has been reserved for the Navigate Foundation. The Foundation was established to build the Navigate platform, grow a community of contributors, transition governance of the core Navigate protocol over to the community, manage Navigate Maps, and develop the ecosystem through strategic initiatives. These initiatives can range from developer grants, new user rewards, liquidity provisioning, and more.