Project Update April 2021 – Haven Protocol XHV

Introduction

What was once thought to be impossible has just been launched onto Haven’s mainnet. After many months of coding and testing the first true cryptonote-based coloured coin implementation has gone live.

This marks another major milestone for the project and puts Haven in a very strong position to become the go to protocol for anyone wanting to take control of their finances and be able to store and transact in multiple currencies in private.

Much more going on besides so on with this month’s project update….

xAsset Mainnet launch

We have now successfully launched xAssets to Haven’s mainnet. This marks a huge step forward for the protocol and will lay the foundations to allow, in the coming months and years, the addition of many more assets to the network. This was thought by many within the crypto community to be impossible due to the level of privacy employed by the Haven (Monero) codebase.

A great deal of work has gone into making this possible, enabling a network of real world assets to be represented on a blockchain whilst maintaining user privacy and autonomy.

The first phase of xAssets to have been launched are xAU (Gold), xAG (Silver), xEUR (Euro) and xCNY (Chinese Yuan).

You can read further details on this here:

https://havenprotocol.org/2021/04/12/artemis-fork/

Vault Upgrades

As a part of the launch process for xAssets the devs have spent many weeks re-working the backend architecture of all Haven vaults (Desktop, Web and CLI) in order to support multiple assets. Again, following on from successful testing these are now available to use on multiple platforms giving users the ability to convert between all supported assets direct from their vault.

All updated versions of the vaults can be found here: https://havenprotocol.org/products/

To assist new users we have also just released a short guide to getting started with the Haven vault.

You can check out the video ‘5 minutes to becoming your own offshore bank’ here: https://www.youtube.com/watch?v=ShWWgiFkr-k

There will be further videos coming soon to highlight additional features and utility.

Edge Wallet integration

We are very pleased to confirm that a new developer (@j-berman) has come onboard to help facilitate the integration of Haven into the Edge Wallet. Preliminary work has been completed and there are ongoing discussions with the Edge team on completing the integration and getting another storage method for Haven live. These 3rd party integrations are important for the security and decentralisation of the project and we are always looking at further options for wallet integrations.

ThorChain Mainnet Launch

Following several months of building and testing, on April 13th, Thorchain successfully launched their mainnet. The Haven devs are continuing to work alongside the Thor team to finalise the Haven integration into their platform. All xAssets will be capable of being deployed into creating a ThorChain liquidity pool to give holders a yield on their assets.

Haven Protocol Foundation

The Haven Protocol Foundation has now been incorporated in the Cayman Islands and marks another important step forward for the decentralisation and future governance of the project. We are actively looking at bringing people onboard to get involved with the running of the foundation, help steer and facilitate the wishes of the community and help guide the project as we transition from the startup to the growth phase.

The governance wallet that receives the project funding will soon be signed over to the foundation and will be controlled by that entity in future. It will be managed in accordance with the rules of the foundation and will exist to serve the interests of the project’s continued growth.

Explorer update

The network explorer has undergone an update to support xAssets. You can now follow live circulating supplies of all assets here: https://explorer.havenprotocol.org/supply

Network Analysis Tool update

The network analysis tool is currently undergoing an update to incorporate xAssets. More details soon but it will include the following:

Activity Feed for asset conversions
Overview and details for all live assets including asset circulating supply as well as conversion details.

Network Usage Snapshot

A new item for the monthly updates is going to be the network snapshot. It’ll be just to give an indication of network growth and xAsset usage for the preceding month. To start it off here’s April’s snapshot:

xAG = 3708 (oz)
xAU = 34.6 (oz)
xUSD = 5.28 Million
xEUR = 12787
xCNY = 757
XHV = 14.34 Million
Total Network Value (TNV) = $301 Million

Team Recruitment

As we move from the start-up to growth phase of the project we are actively increasing the number of team members. As mentioned above we’re very pleased to have @j-berman coming on board as a developer who will initially be looking after the ongoing Edge wallet integration.

We are also happy to announce that @jonny_u is joining the team to push forward with marketing plans, to expand project awareness. Jonny has extensive experience in digital marketing, and will focus his initial efforts on the conversion funnel, the website, coordinating community efforts and launch campaigns. More plans to follow!

Community

As always our super active community have been busy getting creative with a huge number of Twitter threads/articles and graphic design work going on. We’re also really excited to see a number of in depth community discussions going on around the future economics and fee structure. Ultimately this is a community project and all constructive input goes towards strengthening the protocol and helping it succeed.

We have also hit a couple of social media milestones this month with 15k Twitter followers and over 6k users in Discord.

We’re also very pleased to have been featured in Messari’s Pro platform with an indepth look at the project’s past, present and future. This goes out to over 65k subscribers so is another important step to increase project awareness.