ABOUT HOW HAVENO WORKS AND POTENTIAL RISKS:
Haveno functions as a purely peer-to-peer exchange and your funds are always in your custody. To make a trade, users must deposit a minimum of 15% of the trade value which is refunded after the trade is complete. This deposit is meant to disincentivize scamming, but it also means users must already own some Monero in order to trade on Haveno.
When you enter into an agreement to exchange Monero, both the buyer’s and seller’s Monero goes into a multisig address. In the case that the counterparty fails to fulfill their side of the trade agreement, an arbitrator steps in to resolve the dispute. There exists a risk that if your counterparty and the arbitrator collude, you could lose the funds in the multisig address. This is an unlikely scenario since arbitrators are compensated for behaving honestly. If arbitrators began to behave dishonestly, users would quickly become aware and stop using Haveno altogether. Nevertheless, it is a potential risk which users should be aware of.
