Havven looks to add a layer of stability to their project through a dual token system they say will include a crypto asset-backed currency. In order to issue nUSD, havven holders must first lock their havven tokens into a smart contract. This ensures that users transacting with nUSD have confidence that the system is fully collateralised at all times.
Because both havvens and nUSD are cryptoassets on the blockchain, users are able to see the current state of the system with full transparency. This also ensures the network is protected from censorship and that seizure of the collateral is impossible. This means that as transaction volumes grow, the value of the havven token increases, which allows for the issuance of more nUSD.
Havven plans to achieve price stability by pegging the value of the token to fiat, while simultaneously introducing a decentralized collateral system to provide confidence in the value of the tokens. The company earlier attempts to built stable tokens have either been undermined by their complexity or relied on the major central-station. It is a representative money system helps to achieve the price stability regarding the external asset. Havven has created a decentralized payment network with a stable and predictable digital asset that will perform all the critical functions of traditional money.
It will allow people to use cryptocurrency in their everyday life without worrying about volatility and day-to-day exchange rate fluctuations. The network is boasting a stablecoin with crypto backend assets, but those assets will be generated from the token sale. The team lacks full commitment to the project currently, and we are not sure if that will change post-ICO. There is no mention of how the marketplace will adopt this network, there is no revenue roadmap or financials listed for the organization.
Havven solves the scaling problem with the same approach used by closed loop payment networks, which involves charging fees on transactions as well as hedging fees for idle balances. These fees are paid to users who collateralise the network and provide stability. Havven connects collateral holders with those who require low volatility, enabling an incentive-based market for stability.
This permissionless, low-fee, and stable payment network will enable anyone anywhere to transact with anyone else. Havven is the most popular decentralized payment network in the cryptocurrency industry, which aims to assist users to minimize their exposure to instability. This connects collateral holders with the people who need low volatility that creates the incentive-based crypto market for the stability. The collateral holders rewarded while people transact in the stable coin and then compensating them for staking the crypto system. The Havven ICO proposes a decentralised payment network built on a stablecoin to capture all the benefits of a permissionless system, while also eliminating volatility.
Each transaction will generate fees that are paid to havven token holders. As transaction volume grows, the value of the platform increases and active participants are rewarded with increased transaction fees.
The appearance of such a crypto currency will significantly reduce the volatility of digital money, as well as open up a lot of new opportunities and applications for them. Havven manages to provide such a product that will change the entire crypto-currency world. However, at the moment, the project is still in the early stages of development and, in fact, it has nothing to show, so it’s hard to say how it will behave in the real market. The market capitalization of havvens (HVV) reflects the aggregated value of the Havven platform.
Once determined, this value dictates the maximum supply of circulating Nomins. These fees are paid to all Havven token holders who have issued Nomins and are collateralized; the company states that fees in the network will be about 20 basis points. To establish the initial network parameter, the organization will seed the system with ether backed Nomins from the proceeds of the crowd sale.
However, the ecosystem is built with two tokens, Havvens and Nomins. Havvens act as the collateralization mechanism for Nomins which are used for transactions in the ecosystem.
stablecoin to capture all the benefits of a permissionless system, in the same time eliminating volatility. The Havven token (HAVVEN) will be issued on Ethereum as an ERC-20 token.
The price of stablecoin can be used for making payments as fiat currency such as US dollar. The system should also encourage some adequate level of liquidity for nomins for acting as a useful medium of exchange. Havven connects collateral holders with those who require low volatility, enabling an incentive based market for stability. There are only 60 million tokens available for sale, with the total supply is limited to 100 million. If you are interested in the project, you may apply for inclusion in the airdrop campaign that will take place from February 4-14, 2018.
- Havven is a decentralised payment network designed to enable everyday cryptocurrency purchases.
BlockTower Set to Invest in Havven
The primary use of funds listed is for network development and to incentivize market adoption of the payment network. The organization is requiring a two-year lockup of team member tokens and 12 months on advisErs. The uniqueness of the Havven network is that it disseminates collateral to provide stability. Havven tokens represent the collateral value of the network, which is determined based on the future projected value of transacted fees created by the system. During the token sale, investors will buy havven tokens via an ETH purchase first.
Havven is now on Trust Wallet, Blockfolio, and CoinMarketCap
Holders of Havven tokens will be able to issue 20% of their coins in Nomins, a stablecoin locked in value to the US Dollar. The market capitalization of Havven reflects the system’s aggregate value. On the other hand, Nomin’s total supply fluctuates while its price remains stable as measured in fiat currency. The economic technologies integrated by the Havven project will provide an excellent alternative to the current market. Creation of a stable crypto currency is one of the most essential needs of the current crypto-market.
Although each token won’t have a determined price if the hard cap of $30m is reached, each havven token will have an average price of $0.50. Investors can choose to then escrow these havvens and issue a second currency, called nomins, which are each pegged to $1USD. However, only 20% of the havvens will be issued (in the form of nomins) to create an 80% buffer against market volatility.
Token Sale Review
Havven tends to bring a global solution by putting forth a decentralized payment network built on a stablecoin that aims to mitigate exposure to volatility in the cryptocurrency industry. Cryptonews.com recently launched a series of articles covering ‘Lessons Learned’ from ICO teams. Here are five new lessons from Jordan Momtazi, Vice President of Partnerships at Havven, a Sydney-based decentralized payment network and stablecoin.
Collateral holders are rewarded when users transact in the stablecoin, compensating them for staking the system. A blockchain startup that sets out to offer cross-blockchain payments has announced it is planning to bring its existing stablecoin – a cryptocurrency tied to a stable asset – to the EOS network. Havven bridges token holders with users in need of a low volatility coin. Haven Token holders act like “collateral holders” and will be rewarding for “hodling” using the Nomin’s transaction fees. The capitalization of the HAV token in the market reflects aggregate value of the system and the reserve that backs the stablecoin.
The havven token is a decentralized asset, with an intrinsic value derived from the fees generated in the network it has collateralized. A place for people to discuss Havven, a decentralised payment network designed to enable everyday cryptocurrency purchases using a stable medium of exchange. Cryptocurrency market volatility is nothing new to crypto investors. There have been several projects creating asset-backed coins including those secured with diamonds, real estate, and USD to provide investors a sense of stability.
Using network fees to create a virtuous cycle has been successful in the past, with examples ranging from American Express to Paypal. The difference between these proprietary systems and Havven is that there is no requirement for a central authority within the Havven network.
Havven is a decentralised payment network designed to enable everyday cryptocurrency purchases. The network utilises a dual token system to reduce price volatility. The fees from transactions within the system are used to collateralise the network. The collateral is secured by the blockchain enabling the creation of a new asset-backed stablecoin, nomin tokens.
Less than a day later, the site states that token sales have closed and the cap has been realized. It means that participants will be able to release 20% of the total value of havvens into the system as nomins, with an 80% buffer of collateral value to ensure stability within the system. When someone buys nomins and uses them in a transaction, the system collects a small fee and distributes it among the havven token owners, proportional to their holdings. Thus, users are rewarded for holding the reserve tokens to maintain the system’s stability. Havven’s business model revolves around the concept of a ‘stablecoin’ — a digital currency similar to Bitcoin or Ethereum, without the price volatility.