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Haven Protected Notes (HPN) are principal-protected deposit instruments issued as ERC-721 NFTs. Users deposit stable assets into Blackhaven, which deploys that capital into vetted MegaETH strategies while guaranteeing the original deposit remains fully redeemable. Unlike token-based positions, HPNs are not market-priced instruments. Their value is defined solely by the principal, accrued rewards, and commitment terms. Quick Steps:
  1. Select a commitment term
  2. Deposit USDM
  3. Receive an NFT representing your position
  4. Position accrues yield over the term
  5. At maturity, claim principal plus yield
Deposits earn ecosystem rewards, claimable when released by MegaETH.

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User Options

  • Hold to Maturity: Hold the HPN through its term. The position accrues yield. At maturity, redeem full principal plus accrued yield. Ecosystem rewards earned are claimable when released.
  • Early Redemption: Exit at any time and recover full principal. Accrued yield and ecosystem rewards are forfeited to the treasury.
  • RBT Redemption: Redeem the HPN for RBT equal to the initial principal. The HPN burns on redemption and accrued yield and ecosystem rewards are forfeited to the treasury.
Blackhaven Flow Diagram
At maturity or early exit, the HPN enters a 7-day cooldown, after which the position becomes claimable.