15 Feb 2018
ICO date: February 2018
Havven is a Singaporean based firm seeking to implement a new ‘price-stabilized’ token against a distributed collateral pool. The value of the token is said to be taken from the utility of the system and the relationship between HAV tokens and ‘nomins’ to set the currency price equal to USD$1.00.
Havven seeks to introduce a new stablecoin in the market that will act as an alternative to such competitors as Tether (USDT).
Unlike other ventures that are either using USD, Gold or other assets to create ‘stability’, Havven uses cryptocurrency as its method of collateralization.
There are two main components to the Havven ecosystem:
1) Havvens - The tokens known as ‘Havvens’ are used as the collateralization for the entire process. These tokens will derive their value from the crowd sale and listed market price in the open market.
2) Nomins - Nomins are used for transactions and are issued by Havven holders as the collateralized token. Fees are generated on the network every time that Nomins are moved between wallets. It is estimated that the fees in the network will be an average of ~20 basis points.
In the first instance, Havven will seek to seed the entire ecosystem using Ether, therefore creating ETH/Nomins for redemption.
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