Haven Protocol: July 26 Update and Next Steps

Fork 1: rollback successful

Following the release of v1.4.1 last week, the majority of exchanges, pools, and other nodes are now running the latest version of Haven Protocol.

Some miners experienced an issue with the original fork (v1.4.0) which resulted in reports of rejected transactions. This issue was resolved by the latest version (v1.4.1). The chain is now functioning smoothly. XHV, xUSD, and xAssets can now be sent and received without any issues.

The rollback is now complete and successful. Updated Haven Vaults can be found here. This is the first step in Haven Protocol’s two fork recovery plan, detailed here.

Exchanges reopening

All exchanges have been notified of the new version, and that deposits and withdrawals can now be enabled. They will each come online in their own time, but they should be moving to restore the usual service. Deposits and withdrawals on TradeOgre are now open.

In addition, we are working with each exchange to ensure their own internal balances are correct and making payments from the governance wallet where necessary to meet our obligations.

We are aware that some exchanges are attempting to recover transactions that were reversed by the rollback by requesting users return or resend funds that were reversed. We thank those individuals who have cooperated with the exchanges. Technically those funds do not belong to the user and should be returned to the exchange.

Exchanges do not profit from these returns. These actions directly benefit Haven Protocol as it means fewer funds from the governance wallet are needed to compensate the exchanges.

Because most of the governance wallet funds are in xUSD, which can’t currently be converted into XHV, XHV loans have been necessary to bridge the period between now and when conversions are enabled. We thank the community members who have supported the project with these loans.

Mining pool reimbursement

We believe that all mining pools have now been reimbursed for any XHV mined after the rollback height. This will ensure that any miners, working with a pool, have been paid for keeping the network alive. If there are any pools or miners who have not been compensated, please send details directly to @xmattyk on Discord. These reimbursements have also come from the Haven Protocol governance wallet.

We hope this demonstrates the team’s commitment to our valuable miners and pools who have been incredibly supportive during this period.

Explorer and supply figures

The Haven Protocol explorer has been re-enabled as part of the v1.4.0 update.

Prior to the update, there was a discrepancy between circulating supply figures for XHV, xUSD, and xAssets.

This has now been resolved by the fork and all supply figures are now accurate. We are working separately to update the network page to reflect updated circulating supply figures.

Unit testing

We are currently setting up unit testing to automate core features. This will be used during development to ensure that new features do not break old code. We intend to expand our library of unit tests significantly. If anyone in the community would like to support the project with this testing please reach out to us directly.

Stagenet

To improve our pre-release testing, we have begun setting up a new stagenet environment, designed to mimic mainnet. It will include 2 mining pools, as well as solo miners using common mining software, to reflect mainnet.

This stagenet will only be updated after unit testing by core developers is completed separately on tesnet, and it will be managed in exactly the same way as a mainnet environment.

This new environment can be seen here:

Vault Displays

As a reminder, because conversions remain paused, the XHV price (moving average) is not displayed in desktop and web vaults. As a result, the value of your XHV holdings is displayed as 0. Your XHV and xAssets are still listed in the asset tab, and as long as your vault is synced properly, this is simply a temporary display issue that has no impact on the funds held in your vault.

Fork 2 update

Fork 2 will reinstate Haven Protocol’s xUSD and xAsset conversions. This fork will include a fundamental update to protocol security and a new transaction validation method. This will block all attack vectors related to the June 2021 mint and burn exploits. The initial development work for this new validation method is expected to be completed this week. However, no risks will be taken, and we will use as much time as is necessary to ensure the right checks and audits are complete before releasing this code and planning a date for Fork 2.

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Ecosystem of private stable assets. Based on Monero. The world's first private stablecoin xUSD is now live.

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Haven Protocol

Haven Protocol

Ecosystem of private stable assets. Based on Monero. The world's first private stablecoin xUSD is now live.

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