Havven Announces Partnership With Elysian
We are pleased to announce a partnership between Havven and Elysian, an innovative decentralized Ecommerce platform. Elysian will use nomins, the asset-backed stablecoin in the Havven network, within its platform to provide protection for its users from price volatility. The collaboration serves as the foundation for potential rapid growth for two projects that have targeted a lucrative, scarcely populated niche in the blockchain industry.
Havven is a decentralized payment network and stablecoin designed to enable everyday cryptocurrency purchases. The network reduces price volatility through its dual-token system: havvens, the collateral token, and nomins, the stablecoin. Nomins are collateralized by the value of havvens, and the value of havvens comes from transaction fees that are generated inside the network and then distributed to all active havven holders. The value of nomins is kept stable by havven holders, who are incentivized to manage its supply. The project emphasizes the importance of stability, which is crucial for the cryptocurrency market.
The stability mechanism of Havven provides a practical and effective method of minimizing price volatility when transacting value. The nomin, Havven’s stablecoin, holds value at approximately $1 USD, which allows users to convert other tokens into nomins without losing their value to prevent unstable price fluctuation for certain time intervals in between platform transactions. The result is a level of certainty that users’ asset balances will not fluctuate in coordination with market trends.
Elysian targets a different niche, but in an equally effective manner. The project is a decentralized Ecommerce platform that serves as an intermediary between Ecommerce merchants and their targeted demographic of consumers. Merchants will build customizable stores on the platform and will have the ability to use new, innovative functions that are currently unavailable with its off-chain competitors, such as Shopify.
This revolutionary project appeals to both the blockchain and Ecommerce industry, by improving two vital aspects of Ecommerce that are currently vulnerable, security and user experience. Elysian uses Ethereum’s private sidechain for its Proof-of-Authority consensus to distribute data across a private network to prevent a single access point for malicious actors. In addition, each node needs approval from the currently existing set of nodes, and Elysian has full control over which nodes seal blocks.
User experience also drastically improves through the implementation of technological advancements, such as Artificial Intelligence and Virtual Reality. The integration of AI instantly improves website navigation efficiency through the use of a virtual assistant to gather information from users to provide specific sets of products that would most likely appeal to consumers, and then directs them to certain areas of the website to perform tasks. In addition, the use of VR significantly improves user engagement through the use of vivid graphics and promotes individualism and creativity by allowing each user to create its own unique virtual realm. These aspects ultimately lower bounce rates by a sizable percentage, which generally correlates with higher revenue. As technology continues to become more fascinating and complex, it is vital for projects entering the market now, or in the very near future, to adapt to the transformation of the Ecommerce industry to ensure continued growth.
The partnership between Havven and Elysian is mutually beneficial for both parties. A significant portion of Elysian’s demographic will be Ecommerce consumers that have just recently transitioned to transacting with cryptocurrencies. This is reasonable considering that blockchain is still in its infancy, despite its growth over the last year. Thus, this specific user base is more likely to handle price volatility with emotion as opposed to with a level-headed outlook. This is precisely what makes Havven a perfect fit. The integration of Havven’s stablecoin into the Elysian platform provides instant reassurance for users that their assets will not decrease over a period of time. Elysian will provide an atomic swap function that allows users to transfer assets from one cryptocurrency to another on the platform, so individuals will have the ability to convert unstable altcoins to the nomin, in order to purchase tangible goods from Ecommerce stores without fear of waking up to less money than they went to sleep with. This feature creates a new level of comfort for consumers that transact with cryptocurrencies.
The integration of Havven’s stablecoin into the Elysian ecosystem is valuable to both projects. The nomin provides stability for users on the Elysian platform, which will ultimately improve traffic and increase the amount of products sold on merchants’ Ecommerce websites. This collaboration gives Havven’s stablecoin real-world application in a fully functioning Ecommerce platform which will potentially have a sizable chunk of the Ecommerce market share. In a year that is shaping up to be highly influential for projects in the blockchain industry, this partnership between two incredibly promising projects is a gateway to substantial growth for both Havven and Elysian.