Update from the Haven Protocol [XHV] Development team — Jan 2019

Further updates with more details about the new members’ roles will be released soon. The new team was formed around the shared desire for transparency and to realize the goals of the algorithmic stablecoin in development. Yesterday, the existing assets/code were released to the new team for review and onboarding/walk-throughs were started between @havendev, @donjor, @dweab and @nbourbaki.

These will continue today and we will be looking methodically at the current codebase to ensure that next steps and future plans align with the code we now have in hand. Over the past few days a side stream has been running to create our new team GitHub repository, take the latest version of Monero and rebase Haven onto it. This is meant to ensure quick merging of upstream security patches in the future, and includes the addition of bulletproofs. As you would expect, now that we’ve had a quick look through and a high level overview of how it all works, we have a much better understanding of where effort will need to be focused. To keep everyone informed the high level view is that:

  • Yes, the offshoring code exists
  • Yes, the testnet worked in its intended form and was a valuable prototype of the system
  • No, it wasn’t ready for release to mainnet and more testnets and development effort were required
  • No, recent security updates and bulletproofs were not integrated, and transfer into a new codebase is needed for future development(edited)

Since testnet was run, and particularly in recent weeks other projects have started the process of creating their versions of the Haven idea. We applaud this, and appreciate each one for the alternative paths their implementations are taking. This is a huge compliment to the overall concept, and also an indication of the desire for the functionality. This also has had several of us working through a complete end to end consensus mechanism even before receiving the code — particularly around the oracle. This thinking is being explored in detail and our improved model will be discussed with the community to gain input, validation and support for the model. In further accordance with our mission, and with the goal of transparency and communication, the new Haven Protocol developers are eager to share the initial findings and next steps to be taken now that they have received the XHV source code:

High level review of original testnet

Next steps — Gap analysis to product vision, rebase, bulletproofs and security To move from where we are to full release, as a new and greatly expanded team, we will be working with @havendev and @donjor over the coming days to do a full gap analysis and create an updated roadmap which will be released as soon as possible.
Goal: Development of a high-level plan and estimate for completion. This includes updates to testnet, test plan, and mainnet launch

What will need to be fixed?

Instead of fixing an incomplete solution. We believe the best course of action is to rewrite the Oracle

What will need to be added?

  • Oracle P2P network and protocol Hashing for confirmation of pricing information
  • More detailed pricing data committed to the blockchain
  • Expanded RPC interface for the Oracle

Main question: How far off are we to a complete solution?

We have an end-to-end solution for a new version of the oracle which needs to be coded and tested, reusing as much of the codebase as possible. We are in the process of determining the skills available on the development team and the work that needs to be completed. We may need to reach out for more help if the team doesn’t have all the skills or knowledge necessary to complete this solution.

Slightly off topic for a dev update, but important to note:
To make funding of the project visible to the community and secure successful development of the project, all available project funds and future governance fees will be transferred to a multi-sig wallet with regular public viewpoints and reporting on the use of funds. The keys will be held by a combination of public and anonymous team members ensuring that at least one public and one unknown member is needed for every withdrawal.

This mechanism should ensure that no unknown person or persons are in full control of funds at any time, and that any known person is not able to be forced to provide access since an unknown person is required as well. To build a transparent community, the most recent development updates can be found in the Discord channel #dev-updates (Join here: https://discord.gg/s5kqbVA) to keep the Haven Protocol community informed about the progress. To achieve an accelerated product launch it’s planned to only include one stable fiat currency, XUSD, in our mainnet release for now. The newly assembled development team is excited to continue working on this revolutionary idea and is eager to use the world’s first decentralized algorithmic stable coin!




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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