"The daemon has remained active since May 30 with no recorded live failures; the scheduler’s negative jitter occasionally makes a second attempt within the same UTC hour, the duplicate guard correctly blocks it, and reporting then incorrectly counts that harmless blocked attempt against “uptime.”"
In summary, the Burn Bot's actual uptime is 100% and will be fixed by next Saturdays report.
Synova Burn Bot — Weekly Report — June 6, 2026
NOVA burned this week: 995.23M
NOVA burned lifetime: 1.05B
USDC deployed this week: $39.25
USDC deployed lifetime: $41.75
Effective rate: ~25.20M NOVA per $1
Burns this week: 157 (93.3% uptime)
Cadence: every 60 min (±10 min jitter)
Day 7 of continuous operation
Last burn: 43 minutes ago
Verify on chain:
https://t.co/775pseMrKD
$NOVA Burn Bot — Weekly Report — May 30, 2026
NOVA burned this week: 62.56M
NOVA burned lifetime: 62.56M
USDC deployed this week: $2.75
USDC deployed lifetime: $2.75
Effective rate: ~22.75M NOVA per $1
Burns this week: 11 (100.0% uptime)
Cadence: every 60 min (±10 min jitter)
10h of operation
Last burn: 14 minutes ago
Verify on chain:
https://t.co/775pseMrKD
$NOVA Transparency Log
All NOVA-related on-chain actions will be logged here.
This includes purchases, liquidity management, and vault-related actions — each with a transaction link and stated purpose.
The first $ORA / $NOVA liquidity pair is now in development — Synova's first Algorand-exclusive expansion beyond the core vaults.
The objective is straightforward: build long-term liquidity relationships across the Algorand ecosystem while maintaining the vault-first philosophy that has guided the project since launch.
This is additive.
Phase 2 TVL expansion remains the primary focus and stays on schedule.
One vault at a time.
Today marks 1 year since Synova ($NOVA) went live.
Over the past year:
• Liquidity has been locked across 17, $1,000+ vaults
• Weekly metrics have been published consistently
• Transparency logs have documented major actions
• Over ~50% of the supply has been vaulted
• https://t.co/5retNRmDg1 has been continuously updated
Today also marks the beginning of the Synova Burn Program.
While originally planned for June 1, the burn system was activated on May 30, 2026.
The burn system is now active and will continuously purchase and permanently remove $NOVA from circulation, with the burn rate planned to increase over time.
The current phase of the project is expanding all core pairs to $3,000+ TVL and vaulting the resulting liquidity for another four years.
Wormhole is sunsetting the legacy Portal bridge interface on June 30.
Five Wormhole-wrapped ASAs paired in Synova vaults are affected: wBTC, wETH, wLINK, wSOL, wAVAX.
All vaulted LP positions in these pairs stay locked and untouched through their original unlock dates.
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$NOVA Burn Bot — Weekly Report — May 30, 2026
NOVA burned this week: 62.56M
NOVA burned lifetime: 62.56M
USDC deployed this week: $2.75
USDC deployed lifetime: $2.75
Effective rate: ~22.75M NOVA per $1
Burns this week: 11 (100.0% uptime)
Cadence: every 60 min (±10 min jitter)
10h of operation
Last burn: 14 minutes ago
Verify on chain:
https://t.co/775pseMrKD
The Nova Burn Bot (Novaburn.Algo) begins June 1, 2026.
It will purchase and burn approximately $0.25 of $NOVA every hour, averaging roughly $5.00 per day burned. ~$1,825 per year.
The burn rate will permanently increase every year, with the next increase beginning June 1, 2027.
A weekly update will be posted every Saturday providing a snapshot of the bot’s progress.
This will gradually reduce the supply of $NOVA over time, benefiting long-term holders.