About Haven Protocol
Overview
Haven is an untraceable cryptocurrency with a mix of standard market pricing and stable fiat value storage. This is achieved without an unsustainable peg or asset backing. It achieves this with a dual coin blockchain. Users can mint and burn Haven [XHV] for the equivalent USD value worth of Haven Dollars [XHVD].
Offshore Storage - Stable Value
Offshore Storage is Haven Protocol’s core concept that powers the minting and burning of Haven [XHV] for Haven Dollars [XHVD] and vice versa. In short, sending Haven [XHV] to offshore storage (burning), mints the equivalent USD value worth of the burnt Haven [XHV] in Haven Dollars [XHVD].
Each Haven Dollar [XHVD] is a representation of $1 USD ‘worth of Haven’ which can be transferred to other Haven wallets. Users can also burn their Haven Dollars [XHVD] to mint back the amount of Haven [XHV] of equivalent value.
Price Impact on Minting/Burning
When a user burns Haven and mints it back at a later date, they will net a different amount of Haven [XHV] if the price of Haven has changed. If Haven’s [XHV] price increases, they will net less Haven [XHV]. If the price decreases, they will net more Haven [XHV]. In both cases they will have the same amount of USD worth of Haven.