FAQs

What can Haven be used for?

Haven can be used by anyone who wishes to hold and use their wealth privately and have access to a range of digital currencies and assets all within one network.
It can be used for:

Storage

Anyone who wants to store value outside of the traditional banking system without giving up their privacy and autonomy. Only you can access and use your wealth as you see fit.

Asset Conversion

With the first asset, xUSD, live on mainnet we will be expanding the network by introducing a suite of private digital assets (xAssets) to cover major fiat currencies and high profile commodities such as xEUR, xCNY, xGOLD and xSILV. Anyone using the network can convert between all supported assets within their own digital vault. No counterparty, no 3rd party permission required and no limit on liquidity within the vault.

Payments

Haven can be used for anything that does not require instant settlement and where privacy is desired. E-commerce plug-ins for Haven offer a simple solution for any business to easily integrate Haven payments into their store.

The Haven Currency

Haven’s base currency [XHV] acts as the collateral for the entire network of xAssets. It is based on Monero, and as such inherits all of Monero’s privacy features. It is a Proof-of-Work cryptocurrency.

How many XHV coins are there?

As of Oct 2020 there are around 13 Million XHV in circulation but due to the way the protocol works this will fluctuate according to the demand for the other xAssets in the network. As it is a PoW coin there are a number created via mining and this emission schedule follows the same curve as Monero.
The live circulating supply can be found here:
https://explorer.havenprotocol.org/supply

How many assets will there be on the network?

Having started off with xUSD we will look to add further xAssets over time. The first 4 to be added to the network will be Gold, Silver, Euro and Chinese Yuan.
With the release of xUSD, Haven has just added the world’s first coloured coin implementation on the Cryptonote protocol.

What does ‘Coloured Coin’ mean?

It means there is theoretically no limit to the number or range of assets that could be added to the network. The only limiting factor is that we would need to be able to get a price feed into the network in order to carry out asset conversions.

Was there an ICO?

No. Haven has not carried out an ICO or taken on any outside funding. Nor is there any intention to do so.

So, how is it funded?

Most of the team work on a voluntary basis and receive no payment for their input. The developers do receive compensation in the form of XHV due to the large number of hours they give to the project. Funding comes from a 5% governance fee as well as asset exchange fees. It is spent on essential infrastructure, marketing and developer costs. We also have a committed and rapidly growing community who give many hours to marketing and project awareness.

Privacy

How are my funds protected?

Haven uses the same privacy features as Monero, including:

• Ring Signatures
• Ring Confidential transactions (RingCT)
• Stealth Addresses

Are the transactions private?

Yes, Monero’s privacy feature set is widely considered to be the benchmark within cryptocurrency. All transactions and account balances are fully private including the sender, receiver and the amount. Privacy in Haven is by default, meaning there is no way to accidentally make a transparent transaction. Further details can be found on the Haven Whitepaper.

Why does Haven need privacy?

Like any other account there will be sensitive information that a user may not to be publicly available. This is especially true for personal financial data that, if stolen, can be used by unscrupulous parties to potentially steal those funds. The privacy features of Haven make that much less likely to happen.

NOTE:
Although Haven transactions are private it should not be used for illicit or illegal purposes that violate a user’s local or national laws.

Storing and Using Haven

Where can I get XHV from?

Haven (and xUSD) are available to buy from a number of crypto exchanges or as it is a PoW currency it can also be obtained by mining. The current list of exchanges and mining pools can be found on our website.

How can I store and convert to different xAssets?

Your money is stored in a digital vault. You can think of this as a private offshore account that only you can access and control. There are vaults available for all major operating systems including mobile and desktop and different options depending on your technical knowledge.
Once you have XHV or xUSD in your vault you can then convert to any other supported xAssets within the vault with no limits on the amount and no conversion slippage.

There are different vaults available including:

Web Vault

This is the simplest method for those using computers, tablets or mobile devices who do not wish to run their own node.

Desktop Vault

For desktop users who wish to have a simple to use interface but with the option of running their own node or using a remote one.

CLI Vault (Command Line Interface)

This is generally used by those with a greater technical background and a working knowledge of the terminal on their computer.

We are also developing Mobile Vaults and a Haven Ledger app to allow everyone to store their XHV on a Ledger Hardware wallet.

Is it safe?

Your vaults are protected by a password that you set up and must remember in order to access your funds. During the process of setting up the vault you will be given a 25 word seed phrase. Should you lose your password you can restore your vault using this seed.

NOTE:
It is essential that you keep one or more copies of the seed phrase somewhere safe.

Can I send my money to anyone I want?

Absolutely, as long as they have a Haven vault then you can send XHV or any of the other supported xAssets anywhere in the world quickly, securely and extremely cheaply.

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