Haven Protocol

Haven Protocol is the world’s only network of private stable assets.

Built on Monero and including xUSD, the world’s first private stablecoin.

Haven Protocol will change the world by enabling users to hold crypto, in private, without the risk of volatility.

Haven is an ecosystsem of digital assets that gives you the ability to store, transact and convert your money in the form you choose in complete privacy. You can choose between a range of assets including US Dollar, Chinese Yuan, British Pound, Gold and Bitcoin among others. It has an elastic supply to allow for network growth and flexibility for users.

Haven is an ecosystem consisting of 3 types of assets, which combine to give users genuine utility.

Haven (XHV) – Acts as the network collateral with an elastic supply. It is volatile, so the price is set according to supply and demand on exchanges. Burning XHV is the only way to create (mint) xUSD.

xUSD – is a stable coin that allows you to always convert back to 1 USD worth of XHV. It’s created by burning the equivalent USD value of XHV. xUSD is the only currency that can be converted into xAssets, so it acts as a gateway between XHV and xAssets.

xAssets – These are price stable synthetic assets that can be minted (using xUSD) and stored within a Haven Vault. In the future, there is virtually no limit to the number of xAssets that could potentially be available. Currently, users can convert and transfer xAU (Gold), xAG (Silver), xBTC (Bitcoin) and a range of major fiat currencies such as CNY, GBP, Euro and others.

Haven is a grassroots and community owned project that aims to provide anyone, anywhere access to true digital cash in the form they choose. Access to money is essential for everyone to be able to go about their everyday lives without undue coercion or interference and the financial privacy that Haven offers is a crucial piece of the jigsaw that allows it.

Haven is an untraceable cryptocurrency with a mix of standard market pricing and stable fiat value storage without an unsustainable peg or asset backing. It achieves this with a built in on-chain smart contract that controls the minting and burning of coins in a network of cryptographically unknown supply to facilitate value for users that choose to send their coins to offshore storage contracts while allowing everyone else to be exposed to the natural price movements of the currency.

Offshore Storage

Offshore Storage is Haven's built in smart contract/protocol that powers the stable value storage. In short, sending Haven to offshore storage (burning) records a reference on the blockchain to the current fiat value which can be restored later back into Haven by minting new coins to the tune of the current fiat value.

The key use cases for offshore contracts are:

Point of sales/payment gateway systems where goods can be bought with Haven and stores can immediately lock the fiat value in to protect from price fluctuations. This has the added benefit of keeping the stores business and income completely hidden on the blockchain as neither their wallet address or amounts are revealed.

Storing large amount of money outside of the traditional banking system. Privacy focused cryptos are perfect for this but without a reliable way to maintain value through fluctuations the process of holding could be costly. Sending Haven offshore quite literally, makes money disappear until you want it back at which point the value remains intact.

Untraceable | Hidden | Decentralized

Haven uses ring signatures, ring confidential transactions and stealth addresses meaning payments cannot be tracked or linked back to any user.

Wallet addresses and transaction amounts are completely obfuscated on the Haven blockchain making all activity invisible.

The Haven Protocol is decentralized and open source meaning no central control over the network. Nothing is censored.

What Is Haven Protocol (XHV)?

Haven Protocol is similar to an offshore bank where users can create private tokens that represent stable and volatile assets, including commodities and fiat currencies (such as USD). The protocol is based on Monero, which focuses on secure, private and untraceable transactions.

As a result, most of the features of Monero extend to the Haven protocol, including the bulletproofs and other privacy tech. The base currency of Haven is the XHV, which is burnt to provide users with private, untraceable, synthetic assets and commodities called xAssets.

The network uses a “mint and burn” process to provide users with untraceable digital assets with standard market pricing and real asset-pegged value storage. Simply, users can burn Haven (XHV) for Haven Dollars (xUSD), which is a synthetic stablecoin.

Who Are the Founders of Haven Protocol?

The protocol was first worked on by two unidentified developers in January 2018 who attempted to create a decentralized private stablecoin. This would allow any user to own a private token that can be converted into any desired currency without interference from a third party. However, the project failed after making it to the testnet stage due to technical challenges.

After the failed attempt by the original developers, they left the project and a new team from the Haven community took over.

The new team consists of individuals with expertise in mathematics, economics, blockchain analysis, cryptography, system architecture and community management.

The new team branded and birthed the mainnet of Haven Protocol on July 20, 2020, by launching the xUSD stablecoin. The major developers of the network use aliases: Dweab (Project Lead), Pierre Lafitte (Product Lead), Neac (Protocol Lead), Marty (Frontend Lead).

What Makes Haven Protocol Unique?

The first proposed design of Haven Protocol was initially believed to be infeasible due to the complicated cryptography and mathematics, and the privacy of the codebase. Similar to Monero, the platform also uses proof-of-fungibility. The proof-of-fungibility allows for various asset classes to be equated based on their monetary value rather than just the quantity of the exchanged tokens.

The platform’s unique feature are the completely secure and private synthetic currencies and assets. Also, the “mint and burn” strategy allows for a dynamic alteration of the circulating supply of the underlying assets. This strategy also makes it possible to maintain the value relationship of Haven against its pegged asset.