Haven Protocol is an ecosystem of multiple fully decentralized and private stable coins that can be stored in a Haven wallet which can be seen as a private and decentralized multi-currency bank account for everyone.

Price-stability of all stablecoins (e.g. XUSD) is achieved without an unsustainable peg or asset backing. Instead it is achieved with an algorithmic dual coin blockchain. Third party trust from banks or centralized entities is therefore unnecessary.

Users can convert each Haven Dollar (XUSD) into $1 worth of XHV and vice versa within a Haven wallet at anytime. A cryptographically unknown but fluctuating supply of both coins allows the burning (destruction) of one coin and the minting (creation) of the equivalent amount of the other coin (e.g. 50 XUSD <–> $50 worth of XHV). The same process will apply to all stablecoins in the Haven ecosystem (e.g. 1 XEUR =1€ worth of XHV).

A Fork of Monero – Haven is a fork of Monero, therefore inheriting the stealth and anonymity that it’s famous for. Haven also has the benefit of starting the blockchain from scratch with RingCT for extra privacy. Further, Haven’s Offshore Storage means privacy conscious individuals can keep their money in an untraceable currency without being subject to market fluctuations.

Offshore Storage – Offshore Storage is Haven Protocol’s core concept that powers the minting and burning of Haven [XHV] for Haven Dollars [XUSD] and vice versa. In short, sending Haven [XHV] to Offshore Storage (burning), mints the equivalent USD value worth of the burnt Haven [XHV] in Haven Dollars [XUSD]. This balance never leaves the Haven blockchain and as such remains completely untraceable and un-linkable to the user.

A Two Coin System – Haven Protocol’s cryptographically unknown supply is used to facilitate the fluctuations in the total supply when users burn Haven [XHV] to create the stable value Haven Dollars [XUSD], while allowing Haven [XHV] to be exposed to the natural price movements of the market.

“Haven is a digital wallet that can be seen as a free private multicurrency offshore bank account. Haven allows you to store & transact money securely, anonymously & untraceably while it retains it’s value in the currency (e.g. US Dollar) you want. Haven is decentralized which means it requires no trusted third parties and no central bank to store & transact money.”