Havven combines the simplicity of an asset-backed stablecoin with the trustlessness of a distributed system. This hybrid approach uses a collateral token and a stablecoin to reduce complexity and black swan risk.
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Basics
| Platform | Ethereum |
|---|---|
| Type | ERC20 |
| Accepting | ETH |
| Circulating Supply | 60% |
| KYC | N/A |
| Restricted Areas | N/A |
| Homepage | Website URL |
| White Paper | View/Download |
About
There is currently no effective decentralised unit of account. Previous attempts to create stable tokens have either relied on significant centrali- sation or have been undermined by their complexity. We present Havven, a representative money system which seeks to achieve price stability with respect to an external asset.
Havven is a dual-token solution, composed of a stabilised exchange token and the reserve token which backs it. Users are incentivised to maintain this distributed reserve, and to manage the potential stable token supply so that it is in proportion with the value of the collateral. Because the collateral is encapsulated entirely within the system and distributed among its users, we remove the need for a trusted central authority.
Such a stable cryptocurrency, useful for everyday economic purposes, will accelerate the adoption of distributed ledger technology.
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