> The index of every page is at https://docs.nova.markets/llms.txt. The complete documentation in one file is at https://docs.nova.markets/llms-full.txt.

# Conviction Drops

Address: https://docs.nova.markets/#/conviction
Section: Conviction Markets

Conviction Markets is the new primitive for market formation. You earn Conviction Points, spend them on the proposed markets you believe in, and receive [Conviction Tokens](https://docs.nova.markets/revshare.md), a lifetime share of each listed market's fees, at the Drop.

## Backing a market at the Drop

A **Conviction Drop** is one listing event: the backing, the launch of the winning market, and the distribution of its Conviction Token. One every 3 days. Each Drop has 3 proposed markets that you can back, shortlisted by the Nova team from the community proposals. **The candidate with the most points spent on it wins.**

- Back a market at any moment while the Drop is open.
- Once you back a market the points are spent and backing a market is permanent.
- If you back a market, you spend at least 25% of your balance. Split it across one, two or all three candidates, as you like.
- Adding more is always allowed. Withdrawing is not: spent points stay spent.
- You keep accumulating points while the Drop is open. A 100% toggle sends everything you hold at the moment plus everything you keep earning until the close of the Drop.
- Skipping is free and unlimited. You keep earning while you sit out.

While a Drop is open, nothing that shows who backed what is published: no names, no amounts, no running totals, only who is taking part. At the Drop the winner lists, the tokens go out to everyone who backed any of the 3 markets, and the full Drop becomes public, permanently. Backing the winner market gives you a boost in received Conviction Tokens.

Losing candidates are not gone. They stay, and they can run again.

## Proposing a market

Anyone can propose, and it costs nothing: a ticker, why it should exist, a link to its price, and a payout address. If it lists, the proposer receives a 10% share of its Conviction Tokens.

[More on Proposing a Market](https://docs.nova.markets/propose.md).