Haven describes itself as an untraceable cryptocurrency with a mix of standard market-pricing and real-world asset-pegged value storage. It achieves this via a “mint and burn” process within a single blockchain.

In the simplest case, users can burn Haven (XHV) for the equivalent USD value worth of Haven Dollars (xUSD). To restore to a volatile state, the user can equally burn xUSD for $1 USD worth of XHV. There are plans to add other major currencies (e.g. CAD, GBP, EUR, CNY, BTC, xAU (Gold) are intended to the Haven ecosystem over time to allow users to choose a suitable pegging mechanism for their needs.

Haven's ultimate goal is to create a private decentralized finance platform to include the provision of crypto-backed loans and interest-bearing savings accounts.