DeFi (short for decentralized finance) is the buzzword with crypto at the moment. As with lots of things in crypto, many of the DeFi apps and tokens are complete vaporware! Haven Protocol (XHV) stands out in the crowd with some exciting and useful features.
So what does Haven Protocol offer? Well, for a start it’s a privacy coin based on Monero. This means transactions use Ring Signatures, Ring Confidential transactions (RingCT) and Stealth Addresses. In simple terms, that means all your transactions are 100% anonymous.
That alone is a great feature but it’s not the selling point for Haven Protocol. Haven Protocol is actually a stable coin as well. More than that, it’s actually several stable coins.
Inside the Haven wallet or vault as they’ve named it, you can choose to turn your XHV into xUSD which is pegged to the USD. So if you’re worried about market volatility with XHV you can change it into xUSD and hold it for as long as you like. Plus all this is done anonymously which I think you’ll agree is pretty cool.
xUSD isn’t the only choice either. Soon you will be able to choose from xNZD, xNOK, xJPY, xGBP and others!
This is definitely a project to keep an eye on. An anonymous stable coin? Yes please!
Get more info on the Haven Protocol project.