Haven Protocol price

XHV

#2593

The protocol was first worked on by two unidentified developers in January 2018 who attempted to create a decentralized private stablecoin. This would allow any user to own a private token that can be converted into any desired currency without interference from a third party. However, the project failed after making it to the testnet stage due to technical challenges.

After the failed attempt by the original developers, they left the project and a new team from the Haven community took over.

The new team consists of individuals with expertise in mathematics, economics, blockchain analysis, cryptography, system architecture and community management.

The new team branded and birthed the mainnet of Haven Protocol on July 20, 2020, by launching the xUSD stablecoin. The major developers of the network use aliases: Dweab (Project Lead), Pierre Lafitte (Product Lead), Neac (Protocol Lead), Marty (Frontend Lead).

The first proposed design of Haven Protocol was initially believed to be infeasible due to the complicated cryptography and mathematics, and the privacy of the codebase. Similar to Monero, the platform also uses proof-of-fungibility. The proof-of-fungibility allows for various asset classes to be equated based on their monetary value rather than just the quantity of the exchanged tokens.

The platform’s unique feature are the completely secure and private synthetic currencies and assets. Also, the “mint and burn” strategy allows for a dynamic alteration of the circulating supply of the underlying assets. This strategy also makes it possible to maintain the value relationship of Haven against its pegged asset.

Haven had no ICO, pre-mine, or seed funding when it first launched. The maximum supply of XHV is 18,400,000. As of February 2021, the current circulating supply of the XHV is 14,531,525.

Similar to Monero, Haven protocol also mines a new block every two minutes. For each block mined, 2 XHV are mined. The reward for each block mined is going to be halved in May 2021. Later in 2022, Haven will end up in a “Tail emission” — the mining reward will become 0.6 XHV. This will make Haven inflationary, but the mint and burn method will dynamically control the supply of the token.

The Haven Protocol developers receive XHV as compensation, which is a 5% governance fee taken from XHV mining rewards. This fund will be used for the maintenance of the project.

XHV can be bought on the following exchanges:

• CITEX
• Bittrex
• VCC Exchange
• TradeOgre
• KuCoin
• TOKOK

It can also be earned as a proof-of-work reward by miners.

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Learn more about Monero.

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Learn about proof-of-work on CMC Alexandria.

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