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Meme project Nova announced it has renounced the ownership of the $NOVA smart contract. It means that the contract becomes immutable and cannot be altered or modified, and no more $NOVA will be minted beyond the max supply.
Renouncing ownership is a security feature that can't be reversed. It prevents the original contract owner from manipulating funds, and avoids the potential risks if the owner's address is compromised.
Nova is a meme project that introduces a concept called UBI (Unconditional Basic Income), which refers to a system in which every citizen or member can receive a regular amount of money without any conditions, qualifications, or eligibility requirements. It is distributed by the government or organizations to all members to meet their basic living conditions. Previously, Nova announced it would airdrop as much as 10,000 $ETH to holders of Top30 blue-chip NFTs via its relief funds.
Related: Meme Project Nova to Airdrop 10,000 $ETH to Blue-Chip NFT Holders
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