Table of contents

What’s the meaning of Haveno?

Haveno is an Esperanto word that means ‘harbour’ or ‘port’.

Pronunciation:

PA(key): /haˈveno/ Hyphenation: ha‧ve‧no

When will Haveno be ready for use?

We hope Haveno will be ready to be deployed by the end of 2022.

What currencies will be listed?

We plan to launch with support for at least:

Cryptocurrencies: Monero (XMR), Bitcoin (BTC), Bitcoin Cash (BCH) , Ethereum (ETH)

Fiat: Euro (EUR), US Dollars (USD), British Pounds (GBP)

This list is not final. We will have a small set of currencies at launch, but more will follow shortly after.

Why a new platform? What are the key differences compared to Bisq

Haveno is a fork of Bisq and share some of its strengths, like:

But Haveno brings several improvements over Bisq:

Haveno is privacy-focused

Bisq doesn’t offer strong privacy to its users and have had multiple problems, which resulted in their user’s privacy being compromised.

From the points above we can see how trading on Bisq is not private and could result in the deanonymization of traders and contributors of the project. Haveno has no token, it’s based on Monero and has privacy as a core principle.

Haveno is simpler

Bisq has a very complex and resource hungry user interface. One of our main goals is to provide the user with a simple tool, that won’t need any technical knowledge.

Haveno is cheaper

Bisq is based on Bitcoin and inherits its historically high transaction fees, which will have to be added to the trade fee of the platform.

Haveno is based on Monero allowing traders to take advantage of the very low transaction fees (see the comparison between XMR and BTC), resulting in more convenient trades, especially for low amounts.

Haveno is faster

Haveno will be faster because of three main factors:

What are the differences in the trade protocol

The current trade protocol of Haveno is on Github: docs/trade-protocol.md

Bisq recently adopted a protocol based on a 2/2 multisignature, while Haveno will use their previous protocol: 2/3 multisignature. In a 2/3 multisignature trade, each trader owns one key, this key will be paired with the key of the other trader and will be used to unlock funds and deposits. It’s a 2 of 3 (2/3) protocol because you need only two out of three keys to move funds from the multisignature wallet.

If everything goes fine, the two traders will use their keys to complete the transfer process. If something goes wrong, one of the two parties won’t use their key to complete the transaction, this is where the arbitrator comes to action.

Arbitrators are inherited from Bisq’s 2/3 protocol. They are a trusted role and have the duty of releasing the funds to one of the two parties in case of a conflict. To do so, they use the third key of the 2/3 multisig protocol.

Using arbitrators has drawbacks:

These issues are solved by employing few and trusted arbitrators with strong operation security knowledge, that will act their role anonymously.

Will there be an Haveno token like Bisq has BSQ?

No. The BSQ token is meant to be the key factor of Bisq’s DAO. We won’t implement Bisq’s DAO and the trades on the platform are based on multisignature transactions. No need for a token.

Why no DAO?

Bisq’s DAO is an interesting and innovative governance mechanism, but currently seems to be an unnecessary complication that takes a lot of resources to maintain. Bisq contributors earn BSQ tokens according to how much they contribute to Bisq and the roles they cover inside the project. More BSQ a person has earned, more voting power they have.

Bisq’s DAO has several important flaws that make its effectiveness as a tool for decentralized governance dubious: