Komet Capital

Concerning the fee issue on NOVA

At the end of the week, we experienced an unexpected issue on the NOVA staking contract. Please find a quick overview of the problem below and a more detailed article about the issue, the solutions, and every other thing you should know soon.

  • The fees calculation has an underflow when the variable daysSinceStartStaking is greater than 60 days.
  • This prevents a user who staked for more than 60 days to withdraw as the calculation is used to get the nova reward amount.
  • The reward calculation stays functional, so the user can continue to stake and will be rewarded at the end correctly with a migration system we gonna build. We will also provide a new one-step click function to withdraw LP and be rewarded.
  • A user can prevent the bug before reaching 61 days of staking by withdrawing a small amount of their LP
  • A user who wants to emergencyWithdraw now can contact us and will have their reward when the new NOVA v3 will be published.
  • Each impacted user will receive compensation.

For all these points, more info will come soon in a detailed article.

  • If there is a problem with fees, we fallback at 1% to keep the nova reward display correct
  • We prevent withdrawal in this case with a detailed message
  • If the user is near to 60 days since the last deposit, we will display an alert to explain his possibilities
  • To all users, we will display a warning on the staking modal

We had not thought of mentioning it so soon. However, by the nature of things, it is important to anticipate the arrival of a V3. It was inevitable but It’s a good solution for this problem and more.

As Nova is the heart of our DAO, we want a more efficient and less gas-consuming system. After several audits and implementation tests, we deduced that the best possible solution was to integrate several functionalities directly into the heart of the NOVA token.

All these features will be detailed soon in a dedicated article (snapshot and delegating voting features…)

We would thank our wonderful investors who support Komet Capital and our mission. We know this is a long way to go and we count on each of you to support us and keep total confidence in our team.

A community-powered hedge fund. Governed and owned by the people. For the people. Launching soon on Ethereum.