Silver-backed tokens, anyone?

[Abiky]

I've heard about Gold-backed tokens like Paxos Gold and Digix which aim to bring the benefits of Gold to the Blockchain. To my knowledge, there isn't a Silver-backed token that would serve the same purpose as its gold counterparts. I sometimes wonder why this is the case, since Silver is the second-most-popular precious metal in the world. Having a silver-backed token by a reputable entity/company will bring investors' confidence into Blockchain technology. We need more tokenization of real world assets if we want crypto/Blockchain adoption to rise all the way to the moon.

If you happen to know of any silver-backed tokens on the Blockchain, please let me know. In my opinion, it's much safer to invest in a token than storing physical bullion at home. As long as the company/entity complies with government regulations, there should be nothing to worry about. Any recommendations, or suggestions will be greatly appreciated. Thanks in advance.

[Tytanowy Janusz]

There are a lot of tokens that claim to be backed by silver but I would not risk a penny witht them. Just to throw some examples here:

CannDollar - https://coinmarketcap.com/currencies/canndollar/
silvertoken - https://silvertoken.com/why-silvertokens/

But as I said - risk is to big compared to expected profit.

[KaratX]

Apart from popular gold backed tokens like Paxos Gold  and very limited others I don't think there is any real projects that are actually backed by real gold or silver, it's all a lie, even Paxos Gold don't show us any prove that they are backed by real gold, we are just taking risks

[Tytanowy Janusz]

Apart from popular gold backed tokens like Paxos Gold  and very limited others I don't think there is any real projects that are actually backed by real gold or silver, it's all a lie, even Paxos Gold don't show us any prove that they are backed by real gold, we are just taking risks

Paxos is here for 2.5 year and have quite established possition. It is also "regulated by the New York State Department of Financial Services" and regarding its gold token "A nationally ranking auditor will attest to the matching supply of PAXG tokens and underlying gold every month." It is also redeemable so you can request a delivery of gold bars. It looks to me as the most legit gold token.

[Novatech8]

Both big and small projects that claimed to be backed by gold or silver shows no prove that there is enough gold's and silvers backing their Projects yet people believe in these projects, people choose to believe in empty words only, not me though, I don't believe in such promises anymore

[BigBoy89]

Silver price is much more unstable and silver, like metal, is much less appreciated. Still, I would like to see a real silver-backed token as I was investing in silver bullions in the past.

But REAL silver-backed, with certifications and stored reserves, etc. Not silver-backed only on paper.

[tbct_mt2]

I've heard about Gold-backed tokens like Paxos Gold and Digix which aim to bring the benefits of Gold to the Blockchain. To my knowledge, there isn't a Silver-backed token that would serve the same purpose as its gold counterparts. I sometimes wonder why this is the case, since Silver is the second-most-popular precious metal in the world. Having a silver-backed token by a reputable entity/company will bring investors' confidence into Blockchain technology. We need more tokenization of real world assets if we want crypto/Blockchain adoption to rise all the way to the moon.

If you happen to know of any silver-backed tokens on the Blockchain, please let me know. In my opinion, it's much safer to invest in a token than storing physical bullion at home. As long as the company/entity complies with government regulations, there should be nothing to worry about. Any recommendations, or suggestions will be greatly appreciated. Thanks in advance.

I don't know any silver-backed token on the blockchain.

Gold-backed token has another one, the one I am wearing with signature and avatar.
ANN thread: https://bitcointalk.org/index.php?topic=5161544
Website: https://gold.storage/
Marketplace: https://gold.storage/en/market (you can buy GOLD token with BTC or ETH or convert GOLD tokens to BTC or ETH).
GOLD token is recently added to Uniswap: https://info.uniswap.org/token/0x0d16450d347c12c086d6c94c76c5aaac35ea07e0
Their gold tokens are backed by real physical gold that are stored in Vault of Bullion Stars. Check their Audit contract: https://gold.storage/en/audits

I raised the idea for other precious metal as silver to the gold team, and they said it is possible but for their project, the problem is the company they make a contract to store their physical gold in vault does not provide a service for silver.  

In theory, we can create several separate stablecoins like silver, platinum, aluminum, zinc, copper, etc. All of these coins can be managed by Digital Gold.
However, it will be a different business model. Now we tokenizing the most famous metal asset. We understand that the gold price will continue to grow against the US dollar.
But we do not if silver or aluminum continues to rise against the US dollar. Maybe they will rise but as we are professionals we do not know for sure. It will be more difficult to convince an ordinary investor that tokenized aluminum is more interesting than a tokenized US dollar or gold.

Moreover, we have another problem. The GOLD token is 100% backed by physical gold held in Singapore in the special vault. But we cannot store zinc or aluminum there.

If we go deeper into that question, we find a lot of other nuances. Therefore, now we are not interested in other commodity assets tokenization.

We’ll see what will happen in the next years. If banks and institutional investors massively come to crypto markets, it will be possible to create such assets. The banks can use such tokens for hedging, loans, and other financial operations.

Regards,
Support Team @ Digital Gold
https://gold.storage

[Btra]

There is still no silver-backed tokens but you can find the Gold-backed and fiat-backed that is dollar or Euro backed token. The silver-backed token is not accepted because of the high volatility in the silver price.

[bitcon]

I have not heard of such projects. It is unlikely that there are real teams that issue tokens with the provision of silver. It is better to invest your funds in proven companies. In general, now such an unstable situation that it is best not to take risks.

[Abiky]

Silver price is much more unstable and silver, like metal, is much less appreciated. Still, I would like to see a real silver-backed token as I was investing in silver bullions in the past.

But REAL silver-backed, with certifications and stored reserves, etc. Not silver-backed only on paper.

That's certainly true, mate. Silver is much more volatile than Gold. Yet, it's a precious metal that's admired by investors because of its unique properties and scarcity. It would be ideal to have a token on the Blockchain that would represent the value of Silver. it'll be similar to a certificate, but publicly verifiable by anyone on the Blockchain. As much as I admire Gold-backed tokens, a Silver-backed token would be an inexpensive option for long-term investors. It's still the day where investors don't have the choice to buy and "hodl" Silver-backed tokens on the Blockchain. Maybe the regulatory hurdles has scared many companies/entities away. After all, most governments have been too strict when it comes to crypto/Blockchain tech. At least, we have the option of buying Silver with crypto at APMEX. The only downside is the cost and implications of securing physical bullion at home. If we had Silver-backed tokens, things would've been much better. Until then, this is the only viable route to get access to Silver with your crypto holdings.

Nonetheless, time will tell us if there's enough interest in making Silver-backed tokens a reality. My guess is that everything will become "digitized" in the future as Blockchain becomes extremely popular in the mainstream world. Everything will depend on government's stance towards crypto/Blockchain tech. If regulations are too fierce, the industry's growth will stifle. I'm hoping we'd get a Silver-backed token that lives on the ETH blockchain real soon. Just my thoughts