Havven to Distribute 50 Million HAVeos Tokens to HAVeth Holders

Havven (HAV), a decentralized payment network and stablecoin system, today announced it will distribute 50 million HAVeos, valued at approximately $7 million, to support the launch of its token on the EOSIO platform. Havven will distribute HAVeos tokens to HAVeth holders. The snapshots to determine HAVeth balances will occur on November 20, 2018, and December 20, 2018 (noon AEDT).

Havven provides decentralized and stable payment methods regardless of platform and will continue to operate on Ethereum as well as on EOSIO. The network is a dual coin system where HAV is the collateral token that backs the system's stablecoin, nUSD. HAV holders play an integral role stabilizing the network.

To qualify for the HAVeos tokens, HAVeth holders will need to hold a minimum of 1000 HAVeth by the second snapshot. For distribution value, Havven will calculate wallet balances as the average holding between the two snapshots. Exchange wallets will not be accepted. Eligible participants will receive at least 50 percent of their HAVeth balance in HAVeos. All distributed HAVeos tokens will be escrowed for six months and vest monthly for the following six months.

HAV tokens can currently be traded on KuCoin against BTC, ETH, and USDT, and on Gate.io against ETH and USDT.

Havven also recently announced the upcoming launch of its novel multicurrency functionality, which includes the Euro (nEUR), Japanese Yen (nJPY), Korean Won (nKRW), the Australian Dollar (nAUD), and gold (nXAU).

These new stablecoins will complement Havven's USD-pegged stablecoin, nUSD, which launched in June this year. Further currencies will be added in the near future.

About Havven

Havven is a cryptoasset-backed stablecoin that launched in 2018. The network reduces price volatility through its dual-token system: HAV, the collateral token, and nUSD, the asset-backed stablecoin. nUSD is collateralized by the value of HAV, and the value of HAV comes from transaction fees that are generated with all nUSD transactions and paid to HAV holders. The value of nUSD is kept stable by HAV holders, who are incentivized to manage its supply.

Havven was founded by Kain Warwick, co-founder and CEO of Blueshyft, a retail payment network of over 1250 locations across Australia. Blueshyft has become the largest cryptocurrency payment gateway in Australia, processing tens of millions of dollars in transaction volume. Major backers include BlockTower, BlockAsset, GBIC, AlphaBlock Investments and Astronaut Capital.

For more information, please visit: www.havven.io

Follow us on Twitter: @havven_io

Visit the Havven blog for regular updates: https://blog.havven.io

Join the Havven community on Discord: https://discordapp.com/invite/AEdUHzt

View source version on businesswire.com: https://www.businesswire.com/news/home/20181116005566/en/