Havven (HAVVEN) Review
An independent analysis of Havven (HAVVEN)
A new stablecoin providing a decentralized alternative to USDT “Tether”
Havven is a Singaporean based firm seeking to implement a new ‘price- stabilized’ token against a distributed collateral pool. The value of the token is said to be taken from the utility of the system and the relationship between HAV tokens and ‘nomins’ to set the currency price equal to USD$1.00.
Company overview
Havven is a blockchain startup which is geographically spread across Australia, the USA and Singapore. The core team commenced research on the project in late 2016, evaluating models of different asset-backed stablecoins.
In August 2017, Havven finalized the mechanism for the token and began incorporation for the crowd sale.
The company is seeking to raise a maximum of US$30million to complete development and deploy a stability network that utilizes a dual token system to reduce price volatility in the crypto markets.
Commercial & Technical Strategy
Havven seeks to introduce a new stablecoin in the market that will act as an alternative to such competitors as Tether (USDT).
Unlike other ventures that are either using USD, Gold or other assets to create ‘stability’, Havven uses cryptocurrency as its method of collateralization.
There are two main components to the Havven ecosystem:
1)Havvens - The tokens known as ‘Havvens’ are used as the collateralization for the entire process. These tokens will derive their value from the crowd sale and listed market price in the open market.
2)Nomins - Nomins are used for transactions and are issued by Havven holders as the collateralized token. Fees are generated on the network every time that Nomins are moved between wallets. It is estimated that the fees in the network will be an average of ~20 basis points.
In the first instance, Havven will seek to seed the entire ecosystem using Ether, therefore creating ETH/Nomins for redemption.
Roadmap
A roadmap has not been illustrated in detail on any of the Havven public material.
After speaking with the management team, Picolo confirms the following dates (estimated by Havven team):
V1.0 (March 2018): ETH/Nomin implementation
V2.0 (April 2018): HAVVEN/Nomin implementation [foundation]
V2.5 (July 2018): HAVVEN/Nomin implementation [public]
V3.0 (Q4 2018): Multi-currency support
In addition to the above, it is expected that integration with several DApps will occur in Q4 2018.
Token Use
HAVVEN tokens bought during the ICO will be issued via an ERC20 contract. Token holders can then choose to either hold the HAVVEN and earn fees via the issuance of Nomins, or alternatively, speculate on the actual price of the HAVVENS once open for trade.
As mentioned in the section labeled ‘commercial & technical strategy’, the dual issuance of HAVVEN vs Nomins are integral to providing consistent stability to the entire ecosystem.
It is expected that exchange listing of the tokens will occur in Q2 2018.
Use of Proceeds
While a ‘Use of Proceeds’ has not yet been provided, discussions with the team indicate the following areas to deploy the raised capital:
•Development costs
•OPEX
•Legal and incorporation
•Marketing and partnerships
•General expenses
Team
The website and marketing material indicate that there are 16 team members split across operations, legal and R&D.
Kain Warwick: Kain is the CEO of Havven and has an impressive track record of also commercializing Blueshyft, a cryptocurrency digital wallet based in Australia.
Justin Moses: Justin is the CTO of Havven and also the director of engineering at MongoDB. Justin comes from an extensive background of technical development of complex systems.
Jordan Momtazi: Jordan is the VP of Partnerships and is focused on the business development aspect of Havven. He has prior experience in enterprise sales and account management.
Advisors
There are 13 advisors listed on the Havven website. A full list can be found here.
Walter De Brouwer: CEO of Doc.ai Christian Jaag: Director at Cryptecon Antony Nantes: CEO of Direct Money