Havven: A Decentralized, Peer-to-peer Payment Platform With Price-stable Cryptocurrency

What is Haven

Havven is a decentralized, peer-to-peer payment platform that allows users to perform transactions in a price-stable cryptocurreny ecosystem. It features novel incentive mechanisms that encourage users to provide collateral, and/or use the stable token to facilitate payments. It also allows the transacting of fiat currencies, which can easily be exchanged before processing payment.

How does Havven work?

Aside from the Ethereum blockchain, which provides the backbone of the payment network solution, price-stable economy is made possible thanks to the dual token system it employs.

The two tokens utilized by the system are the Havven Token, used by those wishing to provide collateral to the network, and the Nomin Token, the stablecoin, used by those wanting to facilitate payments.

Essentially, users of the Nomin token pay the owners of the Havven token for collateralizing and stabilizing the system. With Havvens backing the value of Nomins, transactions can be conducted at a consistent value, and by utilizing the decentralized network to crowd source these resources, rates are much cheaper than charges levied by traditional payment gateways.

The Nomin Token

This is stablecoin with a floating supply and a price measured in more stable, fiat currency. The token provides a ‘superior medium of exchange’ by allowing users to carry out transactions using a crypto that has been stabilized thanks to the hedging of Havven tokens. When demand is high, the value, and amount of Havvens required to back that value, increases. And conversely, when demand is low, the value decreases, so too does the amount of Havvens.

The Havven Token

Havven are ERC20 tokens that provide the collateral for the system. The supply is static, and the value of these assets comes from the fees generated in the network that was collateralized. This introduces a new form of representative money, which doesn’t required a physical asset and in turn, improves trust and eliminates problems regarding custodianship.

Collateralization

Ownership of the Havven tokens also grants the right to issue Nomins place in escrow. To obtain Nomins the users must place a greater amount of Havvens in escrow, (over collateralize) to ensure the Nomins can still be redeemed for their face value even if the price of Havvens drops.

To maintain the equilibrium of the Nomin price the system Havven uses a series of formulaic calculations to guarantee that the issuance process over collateralizes the escrow. As long as the ratio of the Nomin value remains favorable, there will always be enough support to allow Nomins to be redeemed at their face value.

Stabilization Incentives

The Havven platform rewards those that have issued Nomins. The amount rewarded is determined by the cost of transaction fees, and is then distributed in proportion with how well each issuer maintains the optimal Nomin supply.

Rates for incentives can change depending on the users performance, as outlined in the follow chapter.

Transaction Fees

Using an incentive mechanism to correct the global collateralization ratio, the system adjusts the fees it pays to Havven token holders based on their performance when it comes to stabilizing price.

Fees received by Havven holders

The initial reward earned by Havven holders for collateralizing Nomin tokens is directly proportionate to their balance of Havvens. The rate changes in accordance with the users collateralization ratio, improving when the users perform well, and leveling off as optimal ratios are achieved.

Nomin transaction fees

All Nomin transactions are charged a small fee. These charges remain constant, and serve to generate revenue for the platform, which is then channeled back to Havven holders as stabilization incentives.

Havven Market Players

The ecosystem has the potential to serve several different users; these include, but are not limited to:

Havven Holders — those who provide collateral and liquidity for the system. They will seek to earn revenues from escrowing to back the value of Nomins.

Nomin Users — these are participants who make up the demand for the stablecoin for its superior use as a means of exchange. These users may included merchants, consumers, service providers, and cryptocurrency market actors such as exchanges.

Speculators — these often magnify price corrections and are an important vector by which exogenous shocks can be introduced to the system. The modeling inducing volatility by simulation modes of interest such as large capital flows in response to real world situations.

Buyer of Last Resort — these are players are involved to provide confidence in the case if extreme situations. Using capital reserves from the Havven foundation they can intervene to stabiles volatile situations.

Arbitrageurs and Market Makers — these activities allow the bi/ask spread to be neglected when there is insufficient liquidity for players to transact.

Prior to launch, the team will put the platform through its paces by performing in depth quantitative analysis that involves analytical, simulationist, and empirical modeling to test for failures and identifiy characteristics such as its stability under a wide range of conditions.

Valuable Information

Coin Name : Havven (HAV)

Total Supply : — 100,000,000 HAV

Circulating Supply : 60,275,727 HAV

Market Cap : $23,259,258 USD

ICO Token Price: 1 HAVVEN = 0.50 USD

Tokens/Money Raised Through ICO : — 28 FEB — 6 MAR $30,000,000 GOAL

Social Media Information :

Facebook

URL : — https://www.facebook.com/havven.io/?utm_source=Website

Likes : 853 likes and 882 followers

How Many Posts / Updates In The Last 7 Days : 5 posts

Twitter

URL : — https://twitter.com/havven_io?utm_source=Website

Followers :6112 followers

How Many Tweets / Retweets In The Last 7 Days : 5 posts

Telegram

URL : — https://t.me/joinchat/F8sPKBGLmGqNJT41tZFlNw?utm_source=Website

Users : 81 928 members

Telegram Admins

User Name: @shaun98

User Name: @SamuelBrooks

User Name: @crypt0bank

Reddit

URL : — https://www.reddit.com/r/havven/

Readers :619 readers

Medium

URL : — https://blog.havven.io/

Followers : — followers

How Many Updates In The Last 7 Days : 3 posts

LinkedIn

URL : — https://www.linkedin.com/company/havven/?utm_source=Website

Followers : 111 followers

How Many Updates In The Last 7 Days : 7 posts

Steemit

Followers : — followers

How Many Updates In The Last 7 Days : —

GitHub

URL : — https://github.com/havven/havven?utm_source=Website

How Many Updates In The Last 7 Days :8 posts

Staff / Team Info :

Name: Kain Warwick

Title: Founder

Bio: Before launching Havven, Kain built the largest cryptocurrency payment platform in Australia, with tens of millions in transaction volume.

Linkedin: https://www.linkedin.com/in/kainwarwick/

Name: Justin Moses

Title: CTO

Bio: Justin is director of engineering at MongoDB and has significant experience designing and deploying high availability systems at scale.

Linkedin: https://www.linkedin.com/in/justinjmoses/

Name: Jordan Momtazi

Title: VP Partnerships

Bio: Jordan has extensive experience in sales and business development in online payments, he structured numerous enterprise deals while at Paypal.

Linkedin: https://www.linkedin.com/in/jordanmomtazi/

Name: Tim Bass

Title: Project Lead

Bio: Tim is the CEO of Block8 and has a background in system design. He was a part of the winning team at the Consensus 2017 Hackathon.

Linkedin: https://www.linkedin.com/in/tim-bass-96262198/

Name: Samuel Brooks

Title: Blockchain Lead

Bio: Sam is an electrical and software engineer with expertise in blockchain systems and he won the Consensus 2017 Hackathon.

Linkedin: https://www.linkedin.com/in/samuelgbrooks/

Name: Anton Jurisevic

Title: Blockchain Engineer

Bio: Anton is a blockchain engineer and an expert in static analysis of smart contracts. He teaches computer science at the University of Sydney.

Linkedin: https://www.linkedin.com/in/anton-jurisevic-8058ab149/

Name: Michael Spain

Title: Blockchain Engineer

Bio: Michael has a background in computer science and finance. He is currently teaching distributed systems at the University of Sydney.

Linkedin: https://www.linkedin.com/in/mjspain/

Name: Dominic Romanowski

Title: Blockchain Engineer

Bio: Dominic studied Computer Science at The University of Sydney in and has extensive experience working on blockchain space systems.

Linkedin: https://www.linkedin.com/in/dominic-romanowski-004a0a104

Name: Lucy Lin

Title: Head Of Marketing

Bio: Lucy has been responsible for global marketing teams across five countries. She has over ten years experience in finance, technology, travel & law.

Linkedin: https://www.linkedin.com/in/lucylin1/

Name: Matthew Mupfanochiya

Title: Partnerships + LI

Bio: Matthew has over ten years experience across business operations management, relationship management, product management and program leadership.

Linkedin: https://www.linkedin.com/in/mmupfanochiya/

Name: Phil Vadala

Title: Network Security Architect

Bio: Phil has over 10 years experience making online technology accessible and secure for large corporations.

Linkedin: https://www.linkedin.com/in/philvadala/

Name: Garth Travers

Title: Project Manager

Bio: Garth has a degree in Communications from the University of Sydney and has experience managing a national payments network.

Linkedin: https://www.linkedin.com/in/garth-travers-266b5339/

Name: Charlie Karaboga

Title: Project Manager

Bio: Charlie has a background in senior product management in both emerging and developed markets. He has managed several international launches for products with millions of users.

Linkedin: https://www.linkedin.com/in/ckaraboga/

Name: Zoe Archer

Title: Graphic Design

Bio: Zoe has a degree from the University of Sydney in Photomedia and has worked across numerous projects in design and marketing.

Linkedin: https://www.linkedin.com/in/zoearcher/

Name: Sergey Vassilyev

Title: Full Stack Engineer

Bio: Sergey has over six years experience as a full stack engineer, with a focus on Javascript development.

Linkedin: https://www.linkedin.com/in/sergey-vassilyev-91017455/

Name: Miles Elkington

Title: Product Manager

Bio: Miles has delivered numerous complex payment system integrations for large enterprise clients.

Linkedin: https://www.linkedin.com/in/miles-elkington/

Name: Walter De Brouwer, CEO , Doc.Ai

Title: Advisor

Linkedin: https://www.linkedin.com/in/wdebrouwer/

Other links:

Name: Christian Jaag, Ph.D., Director , Cryptecon

Title: Advisor

Linkedin: https://www.linkedin.com/in/cjaag/

Name: Juan Beccuti, Researcher Cryptecon

Title: Advisor

Linkedin: https://www.linkedin.com/in/juan-ignacio-beccuti-vazquez-61829b118/

Name: Peter Reeves, Partner Gilbert + Tobin

Title: Advisor

Linkedin: https://www.linkedin.com/in/peter-reeves/

Name: Antony Nantes, CEO , Direct Money

Title: Advisor

Linkedin: https://www.linkedin.com/in/anthonynantes/

Name: Andrew Porter, Former MD , WorldFirst

Title: Advisor

Linkedin: https://www.linkedin.com/in/andrewiporter/?ppe=1

Name: David Curry, CCO CoVESTA

Title: Advisor

Linkedin: https://www.linkedin.com/in/david-curry/

Name: Alan Burt, Partner Beachead VC

Title: Advisor

Bio: Miles has delivered numerous complex payment system integrations for large enterprise clients.

Linkedin: https://www.linkedin.com/in/alan-burt/?ppe=1

Name: Simon Dulhunty, Non Exec Director , TopBetta

Title: Advisor

Linkedin: https://www.linkedin.com/in/simon-dulhunty-31297735/

Name: Kevin O’Hara, Group CIO , Tulla Private Equity

Title: Advisor

Linkedin: https://www.linkedin.com/in/kevino23/

Company Address :

Sydney, NSW


This story is published in The Startup, Medium’s largest entrepreneurship publication followed by 310,796+ people.

Subscribe to receive our top stories here.