SilverToken was launched in 2017 as a convenient method for anyone the own and exchange ownership of privately vaulted silver. Initially developed as an ERC20 token on the Ethereum network, SilverTokens are now also available on the Polygon network due to the high fees associated with Ethereum transactions.

By holding SilverTokens (SLVT), individuals possess ownership of silver bullion stored in 12 privately owned vaults spread across the globe. SLVT holders have the option to redeem their tokens for physical silver or sell them back for USDC (a stablecoin).

When silver is sold, a new SilverToken is created and given to the buyer. Conversely, when a SilverToken is redeemed, it is burned and removed from circulation. This ensures that the number of SLVT in circulation always corresponds to the amount of silver held in the vaults.

When an SLVT is transferred, a small transaction fee is generated to cover the expenses associated with vaulting the physical silver. The fee structure is as follows: transactions involving 2 SLVT or fewer are free, transactions involving 3-500 SLVT incur a 1% fee, and transactions involving 501 or more SLVT incur a 0.8% fee. Half of the fees collected are used to purchase additional silver, thereby increasing the amount of silver represented by each token, while the remaining funds cover vaulting costs. Consequently, the quantity of silver within the vaults grows each month, and each SLVT represents a greater amount of silver. The SilverToken website publicly displays the silver-to-token ratio, which is updated monthly.

Any SLVT holder has the ability to sell their tokens back for the real-time spot price of silver. This "Buy Back" option is always accessible through a secure smart contract and is settled in USDC.

If you possess silver, you can tokenize it by sending it directly to the vault and receiving SLVT as proof of ownership. A 5% fee is charged to cover the associated costs.

At SilverToken, we firmly believe that by facilitating the seamless transfer of silver ownership, we uphold the principles of "The Silver Standard." This standard ensures that money retains its purchasing power over time, just as it has for thousands of years. SilverToken serves as money that can be redeemed for silver.

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