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Author Topic: [ANN][SLVT]⚪️Silvertoken⚪ - ⚖️⚖️FIRST SILVER BULLION BACKED CRYPTOCURRENCY⚖️⚖️  (Read 47 times)
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August 15, 2018, 06:29:40 PM
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Silvertoken Website
Silvertoken Full Whitepaper

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Introducing Silvertoken
Cycles of inflation and devaluation triggered by government regulation limit how investors can rely on fiat currency for the purposes of wealth protection. Thus, investors are increasingly looking for alternatives to protect their investments and wealth. Many investors have turned to cryptocurrencies which offer networks of currency exchange utilizing transparent and sustainable technological safeguards, though many of these digital currencies suffer from extreme volatility.

Silvertoken eliminates that volatility and provides stability.

With Silvertoken, you get a digital currency built on a blockchain engineered for secure and decentralized exchange. What makes Silvertoken unique is that each Silvertoken (SLVT) is backed by 99.9% pure silver. When you own a Silvertoken, you own the equivalent of one ounce of silver held in a secure vault that may be redeemed at anytime and delivered to your home.

Silvertoken has a strategic master vaulting alliance with Strategic Wealth Preservation (SWP) in the Cayman Islands. This means that Silvertoken has a store of 99.9% pure silver located within a global vault network situated outside of the banking system.

Silvertoken A project formed around the necessity for an unmanipulated sound money system.

Silvertoken (SLVT) A digital currency fully backed by vaulted silver created by Silvertoken.

StackerToken (STKR) A complimentary utility token specifically made for the users of the Silvertoken digital currency. STKR will be released later this year.

Silvertoken (SLVT) Details
Token Name Silvertoken
Token Symbol SLVT
Blockchain Ethereum
Compatibility ERC20 Compliant
Current Token Supply 1,000,000
Maximum Supply Tokens may be minted in balance with vaulted silver reserves.
Token Price Fluctuates with global silver market prices.


How do I get SLVT? -  Link to Buy SLVT
SLVT may be purchased directly on the website by utilizing the "Buy Now" feature to calculate the current price of a token. As silver prices change, so does the price of SLVT, which is why we highly recommend using the calculator on our website. Once you have used the calculator, you will be provided with the amount of ETH needed to send to the SLVT smartcontract. In addition to purchasing SLVT with ETH, tokens may also be purchased by "Tokenizing" your precious metals; this is outlined below.  


Tokenizing Precious Metals - Link to Tokenizing Precious Metals
Tokenizing is the act of converting precious metals into a digital currency on the blockchain. In essence, fully backed commodity money is thus created. Ownership of the metals is retained unless transferred and SLVT becomes your fully redeemable receipt for the metals you have tokenized.  We offer this program to individuals who currently own precious metals (Gold, Silver, Platinum and Palladium) and wish to deliver these metals to a secure vault for fully insured free storage. We offer the option of delivering metals to our main vault in Grand Cayman or a vault closer to your region within our network. A fully insured shipping label is provided and all metals are assayed upon arrival to the vault. Once the delivery, purity and quantity of metals are confirmed, SLVT is transferred to your Ethereum address. A 5% fee calculated in silver weight is charged for this premium service. Any non-silver precious metals delivered to the vault will be sold and the proceeds used to purchase silver.


Redeeming SLVT - Link to Redeem SLVT for Silver
Aligned with our belief for the need to have a fully backed sound monetary system, all SLVT tokens are redeemable on demand for the silver they represent. We believe all currencies should be fully backed by a commodity and all receipts for this backing should be redeemable upon demand of the holder. Individuals may choose to redeem their SLVT tokens for the silver they represent and have this silver delivered directly to their home. A 4% fee is charged in SLVT for processing and insuring the shipment of silver bullion to your home.


Transactional Growth
Each time a Silvertoken is sent from one wallet to another, there is a 1% fee paid in SLVT from the sender’s wallet. The fee is broken down into two separate parts. The majority of the fee (65%) is used to purchase more silver bullion to back the tokens already in circulation. This means that as more transactions occur, each SLVT will begin to represent more and more vaulted silver. It is a way to offer a reward to the users of the currency. The minority of the transaction fee (35%) is used to cover overhead related to vaulting and technology improvements. This model is superior when compared to similar digital currencies which choose to offer a separate interest-bearing token, and thus, do not reward the users of the currency, but instead reward third party investors. In the future StackerTokens will also serve to reduce transaction fees for holders when using SLVT.

Detailed Transaction Fee Structure
  • Free when sending 2 SLVT or less
  • 1% when sending 3-500 SLVT
  • 0.8% when sending more than 500 SLVT


Silvertoken Debit Card
The Silvertoken Card will allow further usability of SLVT in daily transactions. By utilizing existing infrastructures set in place by payment processors, SLVT may be spent just like widely accepted government currencies. The Silvertoken Card will be made available for a test group early in 2019.    


Our Team
In addition to the key members of our team outlined below, private contractors are hired on an as needed basis to keep overhead low and accelerate growth as quickly as possible. As we continue to mature as a company, more team members will be brought on full time and announced publicly on our blog.

Core Team
Ric Malik, CEO and Co-Founder
Andrew Malik, COO and Co-Founder
Alex Popov, Senior Solidity Developer
Jimi Choi, Senior Developer and UX Engineer
Debora Tosetti, Graphic Designer
Richard Bowman, Lead Blogger

Advisors
Mark Yaxley, Service Provider and General Manager at Strategic Wealth Preservation
John Votta, Finance Advisor
Henry Orren Merren IV, Legal Advisor, Grand Cayman


Github Repository
FAQ - Why are there no recent updates and only one commit?
Our team believes in transparency, and acknowledges we are competing for market share. We have utilized the OpenZepplin Solidity library as a starting point to build the SLVT Smartcontract. All OpenZepplin libraries utilized may be viewed on our Github. However, we have decided to keep our proprietary contract build private. We do not want to give far less developed competitors an edge in the race towards the finish line of success. Our proprietary code will be released in the future.


Affiliate Program - Link to Affiliate Program Application
Silvertoken offers an affiliate partnership to qualified individuals with a mid to large size sphere of online social influence. Potential affiliates must complete our application to determine eligibility and interview with a team member. Once an affiliate has been approved, a unique link for the affiliate will be provided. The link may be shared on the affiliate's social networks and promoted to followers.

  



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