MARKET Protocol announcing Havven Partnership!
MARKET Protocol, a decentralized derivatives protocol designed to deliver on-chain, cross-chain and off-chain trading, is pleased to announce a partnership with Havven — a decentralized payment network and stablecoin. Stablecoins have all the benefits of other crypto assets while adding the utility of a stable medium of exchange. They are often pegged to traditional fiat currencies or physical assets like gold.
Derivatives are contracts between two counterparties denominated in a base token deriving value from a reference asset all without ever taking custody of that asset. Anyone can create MARKET Protocol contracts with dollar proxy — eUSD as a base token resulting in relationships like eUSD versus the S&P 500 index. Alternatively, contracts can be generated for cross-chain relationships like eUSD/Monero providing eUSD/Monero price exposure without ever taking custody of Monero or converting to fiat in a decentralized, safe and solvent environment.
eUSD is the initial stablecoin within the Havven network, and is a major step towards the release of havven-backed nomins, the final stablecoin iteration that launches on June 11. As part of the launch of eUSD, Havven created a tool to simplify the process of converting your ETH into eUSD and vice versa. eUSD and future nUSD stablecoins can also be used as a payment method on the Havven eStore.
Seth Rubin, CEO of MARKET Protocol, says, “Havven presents a unique and thoughtful stablecoin model. It’s great to see a team deliver so quickly in production.” Kain Warwick, Founder of Havven, says the partnership is a mutually beneficial one: “MARKET Protocol provides businesses and users with the framework to effectively manage risk, and a stablecoin will help combat another major risk — price volatility.”
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More information on Havven is available on their website and for any questions about the project, join their Telegram chat.
