A lot of trust was lost in crypto world when scandals of money laundering surfaced about Tether.
Since then many in the cryptocurrency community has blamed Tether for mass market manipulation and organizations have pulled together to build their own stablecoin. Although there are a few successful stablecoins pegged to the US dollar (1:1), the best I found is nUSD. We don't need Tether no more...teether on squadrons!
This is major news for Havven and the broader Ethereum community, as it provides an alternative to centralised stablecoin solutions like Tether. This is an important milestone, as nUSD is only the second ever decentralised stablecoin to launch on a major exchange which makes it the best stablecoin in the ring. I believe that decentralised stablecoins will enable hundreds of new use cases for decentralised systems, and will significantly improve the user experience. By the way, who needs a centralized system in crypto? Cryptocurrency is fueled by decentralization so screw centralized Tether.
The following pairs are available on Kucoin: BTC-nUSD, ETH-nUSD and USDT-nUSD.
nUSD is a decentralised and scalable stablecoin that provides protection against volatility and stable payment method for decentralised systems. Now I strongly recommend using nUSD if you ever want to purchase something you have the exact money for because you would not want to be on a dinner date and lose 15% of the money by the time your cheque arrives (dirty dishes anyone?)
Havven uses a dual-token mechanism to provide stability: HAV, the collateral token, and nUSD, the stablecoin. The value of nUSD is kept stable by HAV holders, who are incentivised through transaction fees to provide confidence that each nUSD token is fully backed by HAV tokens locked in a smart contract.
Because the entire system is on-chain like a mouse to a tail, there is no need for trust in a central authority, anyone can independently verify at any time that the network is fully backed. Not even a 9.0 earthquake can shake the price! I've witnesses Tether fluctuating by up to twenty cents. Too unstable if you ask me!
KuCoin is a blockchain asset trading platform based in Singapore. It already offers the option to trade HAV against BTC, ETH and USDT, and its listing of nUSD is a major step towards wider adoption of the Havven payment network.
They've already announced partnerships with a variety of projects, which will use nUSD as the medium of exchange on their platforms. These include MARKET Protocol, intimate.io, Deconet, LocalCoinSwap, Elysian, Bamboo and more. nUSD can also be used in the Havven eStore to purchase a range of Apple products (US only) and Havven merchandise.
