SYDNEY--(BUSINESS WIRE)--Havven (HAV), an open-source blockchain project that enables payments across decentralized platforms through its stablecoin, nUSD, today announced its intent to launch on the EOSIO blockchain. Havven is currently operating on the Ethereum Mainnet, and as part of its EOSIO launch will airdrop 50 percent of the new HAV tokens on EOSIO to existing HAV holders on Ethereum.
The Havven partnership with EOSIO, originally teased at the Sydney EOS Hackathon, represents Havven’s expansive effort to operate across several successful blockchain platforms. The Havven network is a critical piece of blockchain infrastructure for decentralized systems. Stablecoins are crucial for enabling transactions across projects and provide protection from price volatility.
Havven launched nUSD in June 2018 with the goal of being the first decentralized and scalable stablecoin. Havven uses a dual-token model to provide stability. nUSD is backed by HAV, a collateralized token. HAV holders, who provide stability, receive fees generated by nUSD transactions.
Now that nUSD has been live on Ethereum for several months, launching on EOSIO is the next step in the Havven team’s plan to support many decentralized platforms. This move will also ensure that the success of the payment network is not tied to the success of one blockchain.
The EOSIO blockchain also launched in June 2018 after raising $4 billion with the promise of offering improved scalability and zero transaction fees. Block.One, the software publisher behind EOSIO, recently announced that it will spend $1 billion investing in funds focused on the growth of the EOSIO ecosystem.
Havven founder, Kain Warwick, is confident that projects should remain blockchain agnostic. “At this stage cryptocurrency is still in its infancy, so it’s not clear which blockchains will manage to scale. For this reason, it’s important that projects providing blockchain infrastructure plan to provide cross-chain compatibility, so their success isn’t bound to the success of whatever chain they’ve chosen. Supporting multiple blockchains will ensure that critical infrastructure projects are available to developers no matter which platform they choose. Havven is committed to helping to avoid fragmentation within the decentralized ecosystem.”
"We are excited that one of the most successful Australian decentralized projects, Havven, is building on EOSIO, and it was great to have them as a guest at our Sydney hackathon," said Block.One Head of Developer Relations Serg Metelin. "As an open-source initiative that provides unique features to DAPP developers, the Havven project is a welcome addition to the growing EOS ecosystem."
Havven is a decentralized payment network and stablecoin designed to enable transactions across decentralized ecosystems. The network reduces price volatility through its dual-token system: HAV, the collateral token, and nUSD, the asset-backed stablecoin. nUSD is collateralized by the value of HAV, and the value of HAV comes from transaction fees that are generated with all nUSD transactions and paid to HAV holders. The value of nUSD is kept stable by HAV holders, who are incentivised to manage its supply.
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