Havven, a decentralised payment network and stablecoin, has launched nUSD, the first full version of its stablecoin.
Havven is seeking to provide a decentralised and scalable solution to price volatility. nUSD, which is pegged to the US Dollar, is the first nomin, the stablecoin in the Havven system. Havven plans to release nomins for a variety of global currencies by the end of 2018, including nEUR, nAUD, nJPY, and nGBP.
Havven’s dual-token design enables a stable solution that is decentralised, asset-backed, and on-chain. Nomins are backed by the value of the collateral token in the Havven system, havvens. The value of havvens comes from small fees that are generated by all nomin transactions, which rewards havven holders for staking the system. The value of nomins is kept stable by havven holders, who are incentivised to control the supply with the proportion of fees they will receive.
Havven’s founder, Kain Warwick, is confident that the release of nUSD fills a large gap in the current cryptocurrency ecosystem. “Price volatility is still a major issue that’s yet to be solved,” says Warwick. “The release of nUSD is a major addition to the stablecoin space, which is still waiting for a scalable and decentralised design. The backing we have received throughout the industry shows that people can see in the problem and believe in our solution.”
“We released havvens just a few weeks after the token sale, and the entire Havven team has worked tirelessly since then to bring nUSD to the public as efficiently as possible. We hope this demonstrates our commitment to executing on our roadmap, and we look forward to continuing to meet the milestones ahead.”
Havven is backed by some of the world’s leading cryptocurrency funds and backers, including BlockTower Capital, GBIC, and AlphaBlock Investments, and boasts a group of exceptionally well-placed advisors such as Walter de Brouwer, CEO and founder of doc.ai, and Matthew di Ferrante, a Security Engineer at the Ethereum Foundation.
Havven has previously announced partnerships with a variety of projects that will use nomins as a stable medium of exchange, including MARKET Protocol, intimate.io, Swapy, and many more.
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