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.”

To learn more about MARKET Protocol, its partners, team members and development progress, join the ongoing discussion on our Telegram, subscribe to our newsletter and follow MARKET Protocol on Medium.

More information on Havven is available on their website and for any questions about the project, join their Telegram chat.