Haven Protocol

What Haven Protocol does

Haven Protocol was a community-led, open-source cryptocurrency protocol founded in January 2018 and forked from Monero's CryptoNote codebase. The protocol offered privacy-by-default digital assets using Ring Signatures, RingCT, and Stealth Addresses, with the native XHV token serving as network collateral. Its core product suite was the world's first private algorithmic stablecoin, xUSD, accompanied by a family of synthetic 'xAssets' (xEUR, xCNY, xAU, xAG, xBTC, xGBP, xCHF, xAUD), all enabled by an in-vault mint-and-burn conversion mechanism priced via Chainlink and Band Protocol oracles. The project distributed through four vault interfaces (Web, Desktop, CLI, and Paper wallet), integration with Cake Wallet, a WooCommerce payment plugin, and listings on at least ten cryptocurrency exchanges including TradeOgre, Bittrex, KuCoin, and Xeggex.

The protocol's economic model relied on transaction and conversion fees collected in XHV and routed to a governance wallet: 1.5% on conversions (1.2% to governance, 0.3% to miners), 5% of standard transaction fees to governance, plus mining rewards under a Monero-style emission schedule capped at 18.4 million XHV. It served privacy-conscious individuals, e-commerce merchants, PoW miners, and diversified asset holders, with no formal enterprise customers and no VC funding. The project was operated by a loose collective of mostly uncompensated contributors under the Haven Oversight Committee, with the Haven Protocol Foundation incorporated in the Cayman Islands in March 2021 and the Terms of Use governed by Cayman Islands law.

Haven suffered multiple security incidents during its lifetime, including an xAsset exploit in June 2021, conversion pauses in 2022, a chain rollback in September 2023, and ultimately a critical Range Proof Validation exploit active since August 2023 that allowed approximately 1.3 billion XHV to be illicitly minted. On December 12, 2024, the project announced its closure after concluding that over 94% of known supply was controlled by attackers and no realistic remediation path remained.

Name

Haven Protocol

Legal name

The Haven Protocol

Website

https://havenprotocol.org

Company type

Private

Founded year

2018

Operating status

Closed

Short description

Haven Protocol was a community-led, open-source cryptocurrency forked from Monero that offered private-by-default digital assets, including the xUSD stablecoin and a family of xAssets, via Web, Desktop, CLI, and Paper vault applications to privacy-conscious individuals, miners, and e-commerce merchants globally. The project announced closure in December 2024.

Ownership category

akta.pro rank

Product category

Private Cryptocurrency Protocol

NAICS

Securities and Commodity Exchanges (523210)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Commodity Contracts Brokers & Dealers (6221)

akta.pro industry

PRIMARYFSADAMAD

Stablecoin Protocols (Decentralized)

Financial & Insurance/Crypto & Digital Assets/Decentralized Finance (DeFi) Platforms

SECONDARYBPAMAFAL

Crypto Payments & Stablecoin Settlement Platforms

Business & Public Services/Web, Mobile & Digital Platforms/Payments, Wallets & Digital Banking Platforms

Keywords

• Privacy cryptocurrency
• Algorithmic stablecoin
• Synthetic digital assets
• Cryptocurrency wallet software
• Proof of work mining

Headquarters

HQ city

Illinois City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Mining Rewards: Proof-of-Work mining rewards for securing the network. 2 minute block time with ~$0.0005 average transaction fees. Follows Monero emission schedule with max 18.4 million XHV mined supply followed by tail emission.
2. Conversion Fees: 1.5% conversion fee on all conversions between XHV and xUSD or xAssets. Fees auto-converted to XHV. 0.3% goes to miners, 1.2% to governance wallet.
3. Standard Transaction Fees: Standard transaction fees for transfers of XHV, xUSD, and xAssets. Based on Monero fee structure. 5% of standard fees go to governance wallet for developers, listings, infrastructure and marketing.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

Haven Protocol is a decentralized, community-led cryptocurrency network forked from Monero that enables private conversion between its native token XHV and synthetic digital assets including the xUSD private stablecoin via an on-chain mint-and-burn mechanism. Users store and transact through open-source vault applications (Web, Desktop, CLI, and Paper Wallet), with privacy by default enforced through ring signatures, RingCT, and stealth addresses. Collateral is enforced through Vault Backed Shoring (VBS), and conversion prices are sourced from Chainlink and Band Protocol oracles.

Product overview

Haven Protocol was an open-source, community-led cryptocurrency network of private digital assets. The platform offered multiple vault interfaces (Web, Desktop, CLI, and Paper Wallets) and a mint-and-burn tokenomics system. The core offering was xUSD, the world's first private stablecoin, and xAssets including synthetic representations of xBTC, xAU, xAG, xEUR, xCNY, xGBP, xCHF, and xAUD. Haven Protocol was built as a fork of Monero, inheriting its privacy features including ring signatures, RingCT, and stealth addresses. The project announced closure on December 12, 2024 due to a critical exploit discovered in the Range Proof Validation system. Haven Infrastructure tools included the blockchain explorer, oracle price feed, and supply API. Community tools included Havex.io (currently offline), xusdx.com, and havenxassets.com.

Differentiator

Problem solved

Functional benefit

Products and services

• xUSD Private Stablecoin World's first private algorithmic stablecoin serving as the network's gateway currency; synthetically represents USD and is always redeemable for 1 USD worth of XHV through the protocol's mint-and-burn mechanism. Privately transfers to any Haven address by default.
• xAssets Synthetic Assets Synthetic digital asset family — xEUR, xCNY, xAU, xAG, xBTC, xGBP, xAUD, xCHF — built on a mint-and-burn protocol using decentralized oracle price feeds; each represents a real-world asset (fiat currency, commodity, or cryptocurrency) that can be privately held and converted within the Haven vault.
• Haven Web Vault Browser-based wallet interface at vault.havenprotocol.org for storing, sending, receiving, and converting XHV, xUSD, and xAssets; performs local data processing for enhanced security with no software download required.
• Haven Desktop Vault Downloadable desktop wallet application for MacOS, Windows, and Linux providing full vault functionality with the option to run against a local or remote node.
• Haven CLI Vault Command-line interface wallet providing direct network interaction, full control over transactions, and access to advanced features for power users and developers.
• Haven Paper Wallet Offline paper wallet generator for secure long-term cold storage of XHV, xUSD, and xAssets without exposing keys to the internet.
• Haven Blockchain Explorer Web-based blockchain explorer at explorer.havenprotocol.org for searching Haven blockchain data and viewing supply details for XHV and xAssets.
• Haven Oracle Price Feed Live decentralized price feed at oracle.havenprotocol.org displaying the current pricing data (sourced from Chainlink and Band Protocol) used by the Haven network to determine asset conversion rates.
• Haven Supply API API endpoint providing xUSD and xAsset supply figures, used by the blockchain explorer and community analysis tools to track circulating supply.
• WooCommerce Haven Payment Gateway E-commerce payment gateway plugin enabling WooCommerce-based online stores to accept XHV and xAssets as payment, keeping merchant and customer accounts and transactions private.

Quantifiable outcome

• Zero slippage on all conversions regardless of amount
• +4 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Band ProtocolcoreTechnology or Integration · 1 October 2020Band Protocol oracle integrated into price feed alongside Chainlink for additional decentralized price data sources.
• ChainlinkcoreTechnology or Integration · 1 February 2020Chainlink oracle feed integrated for XHV vault exchange pricing. Provides decentralized price data to the Haven network for accurate conversion rates between XHV and xAssets.
• THORChainminorStrategic or Co-development PartnerTHORChain code merge submitted for integration enabling cross-chain liquidity. Testnet integration initiated May 2021.
• Cryptocurrency ExchangescoreChannel Partner/ Reseller/ DistributorListed on TradeOgre, Bittrex, Abra, Citex, VCC, BKEX, Changelly PRO, Polarity, Coinex, KuCoin, Xeggex over project lifetime.
• Cake WalletminorChannel Partner/ Reseller/ DistributorHaven xAssets integrated into Cake Wallet mobile application for accessing xAssets on the go.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• MakerDAO (DAI): MakerDAO issues DAI, a decentralized collateralized stablecoin. While not privacy-focused, it shares the decentralized algorithmic stablecoin architecture with Haven's xUSD, with collateralization mechanisms (CDPs vs. mint/burn) as the comparable technical concept.
• Secret Network: Secret Network offers programmable privacy for smart contracts using Trusted Execution Environments. It is comparable as a privacy-by-default blockchain platform, though focused on encrypted compute rather than a privacy stablecoin.
• Frax Finance: Frax is a decentralized algorithmic stablecoin protocol using fractional collateralization. It shares the decentralized stablecoin category with Haven's xUSD and represents the modern algorithmic stablecoin architecture Haven aspired to.

Direct peers

• Pirate Chain: Pirate Chain (ARRR) is a privacy-focused cryptocurrency with mandatory privacy by default using zk-SNARKs. Comparable to Haven as a small-cap privacy coin targeting confidential transactions by default.
• Zcash: Zcash is a leading privacy-focused cryptocurrency offering shielded (private) transactions via zk-SNARKs. It is a direct competitor in the privacy coin category, though with opt-in rather than privacy-by-default privacy, similar to Haven's positioning vs. other privacy coins.
• Monero: Monero is the parent technology from which Haven Protocol was forked. Both share CryptoNote-based privacy features including Ring Signatures, RingCT, and Stealth Addresses. They are the closest comparable in both technical architecture and privacy-by-default philosophy.
• Beam: Beam is a CryptoNote-derived privacy coin using Mimblewimble protocol. It is highly comparable to Haven as a privacy-focused cryptocurrency built on similar cryptographic foundations targeting confidential transactions.
• Verge Currency: Verge is a privacy-focused cryptocurrency offering anonymous transactions via Tor and I2P integration. It is comparable to Haven as a privacy coin targeting user anonymity, though with a different technical approach.
• Dash: Dash is a privacy-oriented cryptocurrency with PrivateSend mixing functionality and a strong payments/merchant focus. Comparable to Haven given both target privacy-conscious users and merchant adoption (Haven via WooCommerce, Dash via DashDirect).

Regional players

• Tornado Cash: Tornado Cash is an Ethereum-based privacy mixer for transaction anonymity. While primarily a mixer rather than a coin, it shares Haven's privacy thesis and has faced similar regulatory headwinds (OFAC sanctions).

Market position

Strengths2 records

Weaknesses2 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/HavenXHV
• GitHubgithub.com/haven-protocol-org
• Facebookfacebook.com/havenprotocolxhv

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Haven Protocol