Havven is a decentralized payment network that aims to create a stable cryptocurrency by using a dual token system. The two tokens used in the system are Nomins and Havvens. Nomins are stablecoins that are designed to be pegged to the value of a fiat currency, like the US dollar, while Havvens are the collateral tokens that back the value of Nomins.
The Havven network operates on a mechanism that adjusts the supply of each token based on market demand, in order to keep the value stable. When the value of Nomins is higher than the pegged fiat currency, more Havvens are issued to increase the Nomins supply. Conversely, when the value of Nomins is lower than the pegged fiat currency, some Nomins are burned to decrease the supply.
This system aims to provide stability and prevent price volatility often associated with cryptocurrencies. Havven’s dual token system allows users to transact with a stable cryptocurrency, while also providing a way to earn returns by holding Havvens as collateral.
