- Havven secures $25 Million To Solve Cryptocurrency Volatility.
- This crypto price stability would be achieved through a unique two-token model.
Havven: Presently, the cryptocurrencies market is faced with a major problem of volatility. This is why Havven, a stablecoin and decentralized payment network, announced yesterday that it has secured $25 million in pledged funds to tackle cryptocurrency volatility through a unique two-token model that is specially created to achieve crypto price stability.
This Havven’s structure helps it to prevent being dependent on increasing collateral prices via a system that backs itself. The structure uses a dual coin solution — a stablecoin useful for daily economic purposes called “Nomins”, and the reserve tokens that back them, called “Havvens”. Fees are generated by the company from users who complete transactions with the stablecoin. These generated fees are then distributed among the reserve token holders as rewards for maintaining the system.
Kain Warwick, Havven founder, states:
“Existing cryptocurrencies, particularly Bitcoin, fail as money, as they are too volatile to make most purchases. It is critical for money to have stable purchasing power in the short to medium run. Havven, as a decentralized payment network, will allow people to transact in a cryptocurrency that maintains a stable purchasing power. This will unlock numerous decentralized solutions, like insurance contracts, prediction markets, and decentralized asset trading platforms.”
Kain added that today’s investment will be used to create both real-world and virtual networks.
“The funds from the sale will be used by the Havven foundation to help establish the Havven network. This will include establishing offices in major markets around the world, building a world-class team, and covering operating costs for the foundation. In addition to this, a significant portion of the funds will be used to collateralize the system in the initial phases.”
Havven offers digital payment methods that is similar to the traditional forms of money and asset ownership, such as a unit of account, a medium of exchange, and a store of value. Havven stablecoin system offers a new form of cryptocurrency that reflects the steady value of fiat currencies but also retains the characteristics of Bitcoin – decentralization and transaction immutability.
“Once the sale is completed, the network launch will occur almost immediately. This will allow users to purchase Nomins and trade them, demonstrating the inherent value of the network. We plan to launch a promotion that allows users all over the world to purchase a highly sought-after phone.”
Kain added that in a real-world situation, Havven will also demonstrates anti-fraud capabilities.
“The Havven system reduces fraud to zero since all payments in the Havven network are immutable, as with other cryptocurrencies, like Bitcoin.” Havven’s token sale begins today Feb. 28, 2018.
Will you patronize this new this cryptocurrency system? Tell us in the comment box.
Join Our Telegram Channel
Cryptona.co is a popular news resource devoted to cryptocurrencies, blockchain and new technologies. If you have breaking news, suggestions, story tip or interesting ideas to send to our journalists? Please write to us at [email protected]