The Havven Foundation successfully launched a stablecoin (i.e. a price-stable cryptocurrency) on June 11, 2018. During the preceding ICO, the organization raised USD 30 million in funding.
Cryptecon supported the Havven Foundation designing the token system with game theoretical models and numerical simulations.
The concept is based on a dual-token system. Demand fluctuations for the stablecoin, named Nomin, are absorbed by a collateral coin, named Havven. Our analysis shows that under reasonable assumptions and parameters, Havven holders’ incentives are aligned with the system’s goal of exchange rate stability. Thus, Havven holders sell or buy Nomins depending on the prevailing valuation pressure in order to keep its value close to USD 1.
“After months of hard work, both Havven and cryptecon were confident that the supply side incentives we had designed would enable the system to stabilise the nomin price. At this point, cryptecon began an independent analysis of Havven. They developed a game theoretic model to determine whether actors in the system would follow the incentives. They also conducted simulations to understand how resilient the system would be to exogenous shocks.” Havven