Havven to Create a Stable Crypto Transaction Platform
How the Havven community and the stablecoin ensure the stability of the cryptomarket
The cryptocurrency market is largely controlled by the laws of demand and supply, though emotions also play a major role in determining the value of some currencies. While demand and supply will go a long way towards ensuring that certain digital coins are not undervalued or overvalued, emotions can give rise to irrational decisions that lead to the buying of worthless coins, with no real store of value.
As more and more people get to know about the digital market, the demand for cryptocurrencies continues to increase. With this ever-increasing demand, there is a need for a fairly stable environment to ensure that your assets don’t evaporate into worthless dust. This is one reason why Havven is creating a decentralized marketplace to enable users in need of stability to directly transact with those who have the collateral to create it.
Havven creates this market stability with the help of the stablecoin, a cryptocurrency that is intended to bring about stability of price, by acting as both an exchange medium and unit of account. The stablecoin has the features of Bitcoin such as decentralization, the ability to resist censorship, and immutability of transactions. At the same time, the coin is highly useful as a means of payment for goods and services, just like other fiat currencies.
The stablecoin is backed by a pool of reserve tokens that jointly represent the system itself, without the need for a physical asset. When people use the strablecoin for a transaction, a fee is generated which eventually becomes part of the reward for holders of the reserve token. Everyone who takes part in maintaining the stability of the system is duly rewarded. The system measures its value in the US dollars.
Why Havven Is Important
The importance of Havven cannot be overemphasized. Some of the reasons this marketplace is of high value include:
Simplicity and stability: The system merges tne ease of a cryptoasset-based stablecoin with a distributed system that is easy to trust, in order to create a risk-free environment devoid of complexity.
Trading on decentralized exchanges: This creates trust and reduces fraud.
Overseas remittance: It makes it easier for foreign workers to send money to their loved ones back in their countries.
Resistant to shock: This marketplace is fairly resistant to the volatility in the crypto-world because of the way it is controlled collectively.
Havven starts its token sale on 31st January 2018 and everyone who expresses interest in participating before then will be given a 30% discount on the sale price. During the token sale, 60,000,000 tokens will be made available to the public and tokens bought will be locked up for a 12-month period with quarterly vesting. This is to enable them maintain the long term incentives.
Users who elect to escrow their havvens will be given special discounts of 20% for an 18-month period, 15% for 12 months, 10% for 6 months, and 5% for 3 months.
Havven’s concept will help to create and maintain stability in a market characterized by high volatility. The extent to which they succeed, however, depends on how much the investing public buys into this concept.