Silvertoken is a digital currency fully backed by securely vaulted silver bullion.
All tokens may be redeemed for the silver bullion they represent. Sending a token incurs a 1% transaction fee paid in tokens (sending less than 3 Silvertokens is free).
The fee is used to cover vaulting costs and purchase more silver bullion to support the tokens already in circulation. The ratio of the number of tokens and ounces of silver, is called the Silvertoken Ratio. Initially, the ratio is 1 SLVT = 1 oz. of silver but as more transactions occur and more silver is added to support the tokens already in circulation.
With transaction fees tokens will represent more and more silver. Converting your currency into Silvertokens is easy and can happen two different ways.
Tokens may be purchased by converting your Ether into tokens on our website or an exchange. You can deliver silver, gold, platinum or palladium to the vault,, and receive an equivalent amount of tokens. No fees are charged for holding a token, a small fee only occurs only when sending a token.