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The Haven team is thrilled to announce we will launch the first private stablecoin, xUSD, on Haven’s mainnet on July 20, 2020.
Below are some additional details about the launch of xUSD that we’d like to share:
- The launch will require a hard fork of Haven’s chain to implement the xUSD exchange code. We will announce the exact block height for this fork as we get closer to July 20th.
- All pools and exchanges will be required to update their nodes and wallets to incorporate the new xUSD code. We are in communication with all known exchanges and pools and will be happy to assist in preparation for the hard fork.
- The launch on July 20th will continue to be supported by Chainlink’s decentralized pricing oracle. The pricing record created by Chainlink’s oracle that will be used for each block header can be found here. We plan to add additional decentralized pricing oracles in the future.
- After xUSD launch, the circulating supplies of XHV and xUSD will fluctuate dynamically as a result of the mint & burn process at the core of Haven’s protocol. An updated block explorer will be released at mainnet launch that will publicly track the block-by-block supply of both XHV and xUSD.
- For Haven’s users — there is nothing you need to do to prepare for the hard fork. However, once xUSD is live on the network, you will need to use the latest version of the desktop Haven Vault or Command Line Interface (CLI) wallet for any xUSD exchanges or transfers. The Vault has undergone significant changes over the last few weeks, and we are confident it is ready for you to use as the first wallet to support xUSD. Stay tuned for announcements about mainnet Vault releases.
- The web-based Haven Vault will continue to serve as a user-friendly way to store and transact XHV. It will be updated for xUSD functionality at some point after July 20th.
Over the last several weeks, we have benefited from the help of our growing community to test the updated xUSD exchange code (released publicly on June 2nd) and the desktop Haven Vault. Since a community-led takeover in January 2019, the development of Haven has truly been a team effort, and we’d like to thank every community member who has given their time to this project. We also appreciate the assistance provided by developers in the Monero community to review and test the xUSD exchange code.
As many know, July 20th is celebrated around the world as Moon Day to commemorate the first time man first walked on the moon in 1969. When Neil Armstrong stepped down onto the moon’s cratered surface with the words, “That’s one small step for man, one giant leap for mankind, ” he proved we can move beyond our limits with new technology and the spirit to reach for the stars.
Haven hopes to provide another giant step for mankind. Against a backdrop of increasing economic instability and growing invasions of privacy around the world, July 20, 2020 will mark the beginning of a new option for financial freedom: the launch of the first private stablecoin xUSD on Haven’s synthetic asset ecosystem.
This technological leap ensures everyone around the world is able to easily access and privately protect their wealth. Prepare for launch, mint & burn!