Synthetix

Synthetix is a stablecoin and decentralised payment network that is working towards the mainstream acceptance and use of cryptocurrencies in everyday transactions - for which stability is key. The Havven platform uses two tokens to achieve stability. The value of the havven token (HAV) provides the collateral for the platform. The no-mine token is the stablecoin backed by the value of havvens, and is the token that would be used for transactions. The nomins are issued by havven holders who lock up their havvens as collateral. Any transactions operated with nomins distribute fees to havven holders, rewarding them for controlling the supply of nomins to provide a stable value of USD$1. As more people use nomins for transactions, the value of havven tokens will increase due to the higher fees generated.