PR

SLVR Takes ICOs to Commodities with Silver Backed Tokens

As cryptocurrencies tend to instability without an underlying asset, an upshot firm claims to have it both ways.

SLVR, a new digital currency provider, has taken a new approach to the booming trend of initial coin offerings and cryptocurrencies. SLVR has invested more than 28 million dollars of its own capital to secure product success.

This fund influx was poured into modernizing a silver mine near the capital of Mexico, and SLVR now possesses sophisticated mining equipment and infrastructure coupled with approximate reserves upwards of 40 million ounces. For keen investors, this model offers an opportunity to obtain tokens that are backed by SLVR owned physical assets.

SLVR, based out of Mexico City, launched its pre-ICO few weeks back via a crowdfund that is based on the token price of $10. Each token coin with a trading symbol of SLVR is to be backed by one ounce of .99% pure silver.

Our digital coins are reinforced by our silver

Robert Scott

“This is an incredibly rare opportunity for investors to use a worldwide digital currency that is stable and backed by a hard asset. These digital coins will be reinforced by the silver being collected from our own mines,” says Robert D. Scott, COO of SLVR.

Scott provides a decisive answer for gold and silver bugs who clinch to the traditional ‘if you don’t own it it’s not yours’ view: “We beg to differ. We have now created our own Crypto Token that enables people around the world to purchase and own a digital asset that is finally backed by something real.”

He goes on to explain that every quarter 3rd party audits will be reviewing amounts of silver at the SLVR owned mines.

Rather, in a highly virtual world he invited token owners to visit the physical silver mine outside of Mexico City, to see “first hand and with their own eyes real silver being pulled out of the ground. Everyone will leave with some silver concentrate as a momento piece but more importantly the peace of mind that we are the real deal. We are the only crypto that will never go to zero.”

“We have put up $28 million because we believe in this project,” he concludes. “Shouldn’t you?”

Drilling deeper

Scott has stepped also up to answer some questions about the tokens and the process.

How many SLVR tokens will there be?

“This is a smart contract on the Ethereum network with a capped total supply of 23 million tokens.”

How many SLVR coins will be sold in the crowdfund?

“We will offer 4 million tokens at a value of $10 USD per digital token (SLVR).”

Where can investors access the crowdfund?

“Please follow the link here to access the crowdfund directly.”

Where is the silver that supports my SLVR token located after I purchase?

“After the real physical silver is mined it will be stored in secure vaults by a 3rd party. SLVR holders will be able to go and retrieve their silver directly from the vault after trading in their SLVR tokens.”

How do I acquire/ store SLVR tokens during and after the crowdfund?

“During the crowdfund, tokens will be sent to your Ether wallet immediately and instructions to register your SLVR account on our platform will be sent to your email account for proper monitoring of your SLVR tokens.”

When will I be able to trade my SLVR tokens in for real silver?

“Upon completion of the crowdfund, silver will be stored in a secure vault at a 3rd party storage facility. Once produced our goal is to start shipping silver to our secure vault 3 months after completion of the crowdfund. However, you will be able to trade it freely on the market right after purchase of the SLVR token.”

SLVR White Paper Final by TorVik on Scribd

 

 

Got a news tip? Let Us Know