Haven Integrates Chainlink to Further its Mission of Enabling Private Decentralized Finance
We are excited to announce that Haven is collaborating with Chainlink to provide a decentralized oracle service for XHV, xUSD, and all future xAssets.
Haven is a Monero-based protocol for creating private stablecoins and assets. Haven’s first private stablecoin, xUSD, will allow anyone to store and transfer their money with complete privacy.
While initially planned as a future network upgrade, Chainlink’s services will now be used for the mainnet launch of Haven’s first private stablecoin, xUSD. This is an important step towards our goal of decentralization and censorship resistance and reinforces Haven’s commitment to private decentralized finance.
During protocol development, the Haven team has been conscious of the need to remove any perceived control over the price feeds that underpin the network. To achieve this, the design intends to allow for a variety of oracle providers, which is scalable over time.
In the early stages, we had discussions with the Zel team about a solution. Due to project timing and logistics, that work has been temporarily put on hold. Furthermore, over the last few months, the vision for Haven expanded from only providing private stablecoins to also adding the ability for more complex decentralized finance applications.
The need for versatile and well-distributed data providers is something deemed essential for the launch of xUSD on mainnet. Chainlink is now able to assist Haven with this crucial piece of project infrastructure.
Chainlink is rapidly becoming one of the most respected and capable oracle solutions in the crypto space. They have a reputation for security and reliability, used by large enterprises, major exchanges, and other DeFi projects. We feel this is a great match for the ambitions of Haven and the projected growth we anticipate over the coming months and years.
Importantly, Haven is the first Monero-based project to collaborate with Chainlink on oracle services.
Today we are launching the xUSD stagenet for public testing before mainnet launch. This stagenet incorporates a custom Chainlink oracle for XHV to xUSD exchanges. xUSD will act as the base layer for building out the Haven network to be a leading provider of private decentralized finance. More information about participating in the stagenet can be found here.
Johann Eid, Product Manager on Chainlink, stated, “We’re excited to foster the growth of a privacy-focused project like Haven by providing their critical protocol with secure, decentralized price data. Their private stablecoin network contributes to user’s privacy in a DeFi ecosystem and we’re glad Chainlink can help make that a reality via quality market data sourcing.”
If you’re a developer and want to connect your smart contract to existing data and infrastructure outside the underlying blockchain, reach out to Chainlink here! They can help you quickly and securely launch your data-enabled application or Chainlink Price Reference Data Contract on mainnet today. You can also visit the developer documentation or join the technical discussion on Discord. Learn more by visiting the Chainlink website or follow them on Twitter or Reddit.
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner. It is well known for providing highly secure and reliable oracles to large enterprises (Google, Oracle and SWIFT) and leading smart contract development teams such as Polkadot/Substrate, Synthetix, Loopring, Aave, OpenLaw, Etherisc, Conflux, and many others.
Note: chainlinkecosystem.com does not claim any ownership of this content, all credit to Haven, view official announcement.