The use of blockchain technology and cryptocurrencies have gained popularity in recent times. However, many fear of the risks associated, as such markets like that of the stocks, fluctuate drastically! For this reason, Havven, a decentralized payment network and stablecoin was created. Today, Havven has announced its launch of an online store that may allow users to make real-life exchanges.
According to the claims made, the online store will accept stablecoins, namely Havven’s “nomin” in exchange for physical goods. This medium of exchange is believed to stabilize the usual fluctuating coin to remain at $1USD. To better understand the concept of stability in cryptocurrency, it is important to understand the role Havven plays in it.
To this day, cryptocurrencies were considered far from stable, as each coins’ value either increases, decreases or attains a plateau depending on traders, the market cap, any development to the coin that shows potential and more.
Havven was created for the sole purpose of maximizing one’s daily use of cryptocurrencies. Like the Bitcoin, it was founded on the notions of fast transactions, reliability, security and simplicity. However, what sets it apart is its stability factor.
This concept of stability is only achieved through the token.
Based on the team involved, the token provides collateral for the platform and the value of the token depends on the fees made from the network. This process then produces an asset-backed stablecoin, which is the nomin coin (eUSD). Every time a token is issued, nomins become more and more stable.
This concept is definitely unique, and got many attracted to Havven during the ICO, which lead them to raise over 30 million USD. Havven’s move on creating an online store shows that they are addressing both the instability concern, as well as clearing the way for those who are unsure how to make use of digital assets.
As of now, users can purchase a selection of Havven’s clothing line including tee shirts, hoodies and long sleeves and eventually hardware wallets in the near future. Havven’s stablecoin (nUSD) will be launched in July, followed by eUSD, which is the currency that will be used for shopping at the online store.
Users should keep on the lookout, as it is believed that when the project comes together and is ready for the public, they will be given the chance to redeem eUSD for nUSD!