Synthetix, formerly Havven, is a cryptoasset-backed network that enables the creation of on-chain synthetic assets. The Synthetix platform enables the creation of on-chain synthetic assets (Synths) that track the value of assets in the real world. Some examples of assets that the platform supports are synthetic fiat currencies (sUSD, sAUD, sKRW, etc.), synthetic commodities such as gold (sXAU), as well as more complex assets such as equity indices.
Havven is a decentralized payment network designed to enable everyday cryptocurrency purchases. The network uses a dual token system to reduce price volatility. The fees from transactions within the system are used to collateralize the network which is secured by the blockchain enabling the creation of a new asset-backed stable coin, common tokens.