NOVA Conviction Update Incentive Alignment
We didn't choose drug discovery because it was an easy or fast problem to solve. We chose it because it's one of the hardest and most meaningful problems AI can tackle. Our ambition and track record reflects our commitment to long-term value creation.
Since launching, NOVA has shipped 3 incentive mechanisms, established 3 relevant partnerships with other biotech companies outside of the Bittensor ecosystem, provided open-source access to optimized and fine-tuned SOTA models, run ongoing screening campaigns across multiple therapeutic modalities, and much more.
That work has been funded by token sales and it will continue on multi-year timelines regardless of short-term price action. As the conviction mechanism rolls out across Bittensor, we want to be transparent about how we're approaching it by locking company tokens and aligning founder incentives with subnet growth.
Company Wallet — 50% Locked
Even before conviction, we've always balanced self-financing with token health. We locked 50% of our company tokens formalizing that commitment (and we’re one of the top subnets in % and TAO equivalent). From here, the owner's cut will be automatically locked so our conviction will only grow over time. The liquid 50% funds operations through token sales and OTC, and gives us flexibility to navigate price volatility. We will continue to minimize price impact and optimize for token health.
Founder Incentive Alignment
We're allocating 20% of what we earn split across the four founders as a direct incentive. Each founder has real skin in the game, individually motivated to grow NOVA. Based on the current wallet distribution, each founder's individual position will remain below the top 10 holders after tax. This distribution naturally decentralizes stake across the team. Our upside is tied directly to yours.
Built for the Long Term
We came to Bittensor to build infrastructure that accelerates drug discovery. The problems we're solving have the potential to reshape how medicine is made with multi-year timelines and billions in implications. Long term thinking is baked into everything we do. Long-term thinking is baked into everything we do.
We remain focused on:
• building valuable discovery systems
• advancing therapeutic development
• expanding partnerships
• improving incentive mechanisms
• and creating lasting value for the network
Thank you to everyone helping us build.
This is only the beginning.