15 September, 2020 by team
We’d like to announce that Haven has begun the process of legally formalizing itself with the creation of the Haven Foundation.

The Haven Foundation will be located in the Cayman Islands, a legal jurisdiction that has favorable regulations towards cryptocurrencies and blockchain projects.

This enables Haven to establish itself as a legal entity capable of paying development grants, covering operating expenses, and making charitable donations to privacy focused entities, projects and events.

It also serves a more practical purpose. For example, when working with commercial partners such as exchanges, they often require a legal entity to sign on behalf of the project. This entity helps streamline the process making it much easier to onboard Haven and its supplementary xAssets onto other platforms.

Furthermore, we’re also exploring additional legal structures that would enable the foundation to fund other commercial applications that might not necessarily fit within the core protocol, but would drive value and utility to the protocol. Examples of this may, or may not include, loans, exchanges, fiat onramps and off-ramps such as debit cards.

Finally, this approach also allows Haven to begin to lay the groundwork towards community ownership. While we don’t have more to share on this today we’re currently researching the best way to completely decentralize, distribute ownership and enable governance.