Silvertoken

Silvertoken was launched in 2017 as a crypto asset to represent the private ownership of silver by holding the ERC20 token SLVT. Each token is your receipt for ownership of physical silver held in vaults throughout the world. At any time, an SLVT holder may choose to redeem his token for silver and have the silver shipped directly or picked up at a vaulting location. When a token is redeemed, it is burned and removed from circulation. This ensures the number of SLVT in circulation always matches the amount of silver within the vaults. When an SLVT is sent, a small transaction fee is generated to cover the cost of vaulting the silver (free for 2 SLVT or less, 1% for 3-500 SVLT and 0.8% for 501 or greater). A portion of the fee that remains after covering vaulting expenses is used to buy more silver to increase the amount of silver that each token represents. This means that the amount of silver in the vault increases over time and each SLVT begins to represent more and more vaulted silver.

The amount of silver that each SLVT represents (the ratio) is publicly viewable on the Silvertoken website. This allows any user to sell SLVT back to Silvertoken for the current spot price of silver. Silvertoken provides a “Buy Back Guarantee” at all times paid to the user in ETH or USDC.

Users may also choose to tokenize their silver by sending silver directly to the vault and receiving SLVT as their receipt (at a fee of 5% to cover associated costs).

Silvertoken believes that by making silver ownership easy to transfer it can be used as sound money that holds purchasing value over time. Money should have the same purchasing ability tomorrow as it does today. Silvertoken is money you depend on to hold value over time.