One of the main drawbacks present in most cryptocurrencies is extreme volatility. This obviously is huge problem that prevents wide adoption of cryptocurrencies.
Stablecoins intend to solve this issue by providing a cryptocurrency token with a stable price. The price can be stabilized by different mechanisms.
Havven provides a stablecoin (nomin) that is backed by collateral denominated in Havven tokens (HAV).
What is Havven aiming to achieve?
Havven solves the volatility problem by issuing a price-stabilized token backed by a distributed collateral. What this means is that now there is a cryptocurrency (nomin) with a stable price that can be pegged, for example to USD and is convenient to transact in. Havven also works on bootstrapping a user-friendly ecosystem that will allow many users to use nomins for their everyday purchases.
How can I buy HAV tokens?
As of right now you can use several exchanges:
Radar Relay: https://app.radarrelay.com/HAV/WETH
How does Havven’s dual token system work?
The nomin token is a stable coin that is used by users to transact with each other to buy and sell products. The price of nomin can be pegged to US dollar or other currency and its price is always the same. The users of nomins pay small transaction fees to the holders of havven tokens.
The havven token is used as collateral to back the price of nomins. Holders of havven tokens can choose which amount of havvens they want to collateralize and are earning transaction fees based on that amount.
Token contract address of Havven on Etherscan is: 0xf244176246168f24e3187f7288edbca29267739b.