SLVR Coin is a digital token supported by silver a tangible asset. The beauty in this design is that the value of the cryptocurrency will not only be evaluated by simple supply and demand, but an ACTUAL asset. This is unseen by most cryptos. Backing by an asset will increase user confidence that the token will have value over time and not be so volatile.
The company has a revolutionary concept: they are operating a silver producing mine in the Sultepec Mining District, which is located just outside of Mexico City. The silver mined from the over 4,892 acres of mining concessions – known as the Belem Silver and Gold Project – will be used to provide disinter-mediated access to the silver markets via blockchain tech.
SLVR’s management team spent over $28 million to the project, which is focused on a digital token model supported by real silver. A SLVR coin – which will be limited at 23,000,000 tokens after 15 years – stands for one ounce of silver.
Every ounce of silver will be stored in secure vaults with audits being performed by a professional accounting practice.
The tokens will utilize the Ethereum blockchain to secure smart contracts. Clients may request physical delivery of assets from the vaults via web interface through the SLVR coin homepage. Token holders would need to log in and cash their tokens for “hard” silver. All “hard” silver will be shipped through insured air carriers. As an incentive for early purchase SLVR coin will be hosting a tour of the mining facility for 50 of the largest token holders.
Lastly, SLVR coin hopes to grab retail merchants looking to take payments peer to peer using SLVR coin without the huge price swings that we see today In the cryptosphere. Merchants will be able to peg the silver price to the London fix and transfer their tokens to exchanges at close of business day.
Upon completion of the crowdfund, silver will be stored in a secure vault at a 3rd party storage facility. Once produced the goal is to start shipping silver to our secure vault 3 months after completion of the crowdfund. However, users will be able to trade it freely on the market right after purchase of the SLVR coin token.
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