What Is Silver Token (SLVT)?

Silver Token (SLVT) is a blockchain that aims to provide direct ownership of silver verified by the Ethereum blockchain. The platform seeks to allow users to own a valuable asset and utilize it as actual currency. Silver Tokens combines the advantage of silver ownership and ownership verification by blockchain technology which is immutable and unchangeable to protect one's wealth as well. 

Physical silver is chosen by several individuals because of its utility in every industry, which means silver is an excellent asset to protect one's wealth. There is the instability of traditional currencies that does not represent anything with stable value, and any government currency loses its value at alarming rates every day from inflation. Therefore, the project launched silver tokens, aiming to be a safe and secure haven for traders. These silver tokens seek to provide immediate and easy access to traders and avoid volatile fluctuations in the cryptocurrencies market. 

The value of Silver Tokens seeks to grow in two ways: 

• First, an appreciation of silver: as silver increases in value, the amount of Silver Tokens (SLVT) seeks to also increase. 

• Second, transactional fees: The accumulated fees occur whenever the tokens are sent, spent, or traded and then evenly distributed to Silver Token holders as a velocity-based yield, aiming to increase the amount of silver represented by each token. 

Furthermore, the project aims to have an immediate guaranteed buyback facility at spot silver price. This means that users can redeem Silver Tokens at any time with physical silver stored in 12 vaults worldwide.

There is a trust factor associated with the silver as the tokens are held in the users' wallet at all times and never appear on Silver Tokens' balance sheet. Further, the project aims to be secure and transparent as direct ownership of silver is verified by Ethereum blockchain technology. Moreover, all silver seeks to be fully reserved (1:1+), deliverable, and securely held within fully audited and insured vaulting facilities. There is no cost for storage vaulting, insuring, or holding silver tokens. Instead, by holding tokens in the crypto wallet, the value of the user's trade seeks to go up as silver prices appreciate over time. Users can utilize the Ethereum-compatible crypto wallet to store, exchange, or trade their Silver Tokens. 

Silver Tokens have mainly three uses as a store of wealth to save silver tokens, make everyday transactions through exchanging SLVT (native token) for Silver Dollar (SLVD), or redeem for physical delivery. Silver Dollar (SLVD) is always worth 1 USD of silver, which does not change when the price of silver changes and also does not grow from transaction fees.