Sydney, 30 April 2018 – Havven, a decentralised payment network and one of the first ever stablecoins, has today set out to prove the real life payment use for a stable cryptocurrency on an international scale with the launch of its own e-store.
Dedicated to solving volatility through its dual network stablecoin, Havven is working towards making mainstream use and acceptance of cryptocurrencies for everyday payments a reality. The Havven eStore is the first online shop in the world to directly accept a stable cryptocurrency in exchange for physical goods. It will run indefinitely and provide a real use case for stablecoins for the benefit of merchants and cryptocurrency holders all over the world.
The Havven e-store launch comes just 9 weeks after its token sale which raised USD$30 million and received the backing of well respected industry leaders such as BlockTower and X. In its early stage, the eStore will solely accept the first iteration of Havven’s no-mine stablecoin, called eUSD. eUSD, which is backed by ether, keeps a stable value of USD$1, meaning participants can transact with the assurance their currency’s value will not fluctuate.
The new e-store is a notable milestone for the brand, which is on track to roll out its entire network in the second half of this year. It marks an exciting step for Havven as it provides the first tangible example of the future of digital money.
Havven founder, Kain Warwick, says: “Havven was founded on the belief that the future of digital money is a stable and scalable cryptocurrency. Many credible organisations in our industry share that view, and have proven as much by backing our project in a significant way. Traditional merchants and consumers need more tangible reasons and experiences to believe that cryptocurrencies are much more than just a store of value.
“By opening the world’s first e-store to solely accept payment by stablecoin, we can start to bridge that gap and prove the usefulness and efficiency of our platform. These very early transactions will also allow us to review and improve on the network in a controlled capacity ahead of launching full network capabilities in the coming months.”
Local and international customers with eUSD will be able to purchase a selection of Havven-branded T-shirts, long-sleeve T-shirts, and hoodies. The store will also allow customers to pre-order Havven-branded TREZOR hardware wallets, and will be adding a variety of exciting new items to the store shortly.
The eUSD currency will be followed by the launch in July of the official Havven stablecoin, nUSD, which will be the first no-mine to be backed by havvens (HAV), the collateral token in the Havven network. As this rolls out, Havven will give participants the opportunity to redeem their eUSD tokens for nUSD.
To shop at the Havven store, users will have to convert Ether into eUSD. For the simple steps on how to do this, read this Havven blog post. For more information, a demo of the store, or an interview with Kain Warwick, please contact Maria Kaladze by email at maria@TLD, where TLD is havven.io.
Havven is a stablecoin and decentralised payment network that is working towards the mainstream acceptance and use of cryptocurrencies in everyday transactions – for which stability is key. The Havven platform uses two tokens to achieve stability. The value of the havven token (HAV) provides the collateral for the platform. The no-mine token is the stablecoin backed by the value of havvens, and is the token that would be used for transactions. The nomins are issued by havven holders who lock up their havvens as collateral. Any transactions operated with nomins distribute fees to havven holders, rewarding them for controlling the supply of nomins to provide a stable value of USD$1. As more people use nomins for transactions, the value of havven tokens will increase due to the higher fees generated.