Nova DAO & imgnAI Merger FAQ
This FAQ is aimed at answering common questions for Nova DAO $NOVA holders surrounding the upcoming merger with imgnAI.
What’s happening?
TL;DR: Nova DAO and imgnAI are merging to form a new DAO, IMGN Labs!
For more information, read the ratified Nova DAO governance vote, and the imgnAI blog post covering the merger from both organisations.
When will this happen?
Both Nova and imgnAI will be moving quickly with this merger. Our expectation is that it should be complete within the month of March 2025.
What will happen with my NOVA tokens?
$NOVA and $IMGNAI will be deprecated and a new token $IMGN will replace them. Any holders of $NOVA will be airdropped an equivalent dollar value of $IMGN.
$IMGN token is scheduled for launch 18th March 2025, when $NOVA holders will be airdropped on the Base network.
Snapshots have already been taken of all $NOVA holders. Any $NOVA tokens bought now will not qualify for the airdrop, so please do not purchase $NOVA with the expectation of receiving an airdrop!
Do I need to do anything to migrate for the airdrop?
No, you don’t need to do anything! Just hold onto your $NOVA tokens for now.
We will be automating an airdrop for all qualifying wallets, no claim or migration is needed.
Be wary of scammers sending malicious links to claim around this period.
So can I sell my $NOVA holdings now?
If you wish to receive the $IMGN airdrop, it is imperative that you do not sell your $NOVA tokens before the airdrop.
Can I move my $NOVA into another wallet?
If you wish to receive the $IMGN airdrop, it is imperative that you do not move your $NOVA tokens before the airdrop.
Will DeFi and game development continue with the new DAO?
Yes! Games and products currently under development at Nova will continue on at IMGN Labs.
This includes Based Gooeys, Cypher and others on our roadmap.
New games and products will also be developed, details will be announced in the future.
What are my rights with the new DAO?
The DAO will closely follow Nova DAO’s charter, which means that your rights will be similar at the IMGN Labs DAO.
A DAO Council will also be in place to safeguard the DAO’s interests in accordance with the LeXpunK DAO Defence Protocol. This is the same protocol guidelines that the Nova Council operated under.
What will happen with USDO?
Nova DAO is extremely proud of what USDO set out to achieve as a DOGE-based hyper-collateralized stablecoin. However after consideration, it was decided that continued development is not in the best interests of the new entity IMGN Labs.
We want to focus our efforts on products which bring immediate value add to our portfolio, and as such we will be winding down USDO. The good news is that we will be looking to open source USDO and provide a third-party audit report, for anyone who wants to continue its development.
What role will the Nova core staff play ongoing?
Nova Studios (eggman.eth, Mabiruna) and the Nova DAO Operations & Community Lead (arfonzo) will become part of imgnAI’s core team.
- eggman.eth has been part of imgnAI’s core team since inception. He will continue in this capacity, as well as with Farcaster frames development.
- Mabiruna will take on a lead role with Art and Design.
- arfonzo has been on the core team at imgnAI since last year, and will continue with his Operations role as well as Game and Farcaster frames development.
What role will the Nova Council play ongoing?
The Nova Council members will become part of the DAO Council at IMGN Labs. New members may be added to the Council to assist in representing imgnAI.
Why a merger?
It is hoped that the merger will enable IMGN Labs to join up two development-focused organisations into a single team which extends the capabilities of both units.
The ability to share resources, skills and experience will provide extra depth to the products as well as enable new products which harness the combined expertise from both sides in the fields of DeFi, GameFi and AI.
Merging will also release latent skills within the existing team. For example arfonzo will be taking on gamedev/frames development, which is something he has experience with but to date, has been unable to do due to time/resource constraints.
What will happen with the two communities?
The Nova DAO Telegram channel and Discord server will close down and migrate over to IMGN Labs.
Please join us on Telegram and Discord.
