For thousands of years, silver has been used as currency and a store of value by humanity. However, it is not practical to use silver in the current economic setup. With the problem of how to use silver in daily transactions in mind, the Silvering SLVG project was born.
The Goal of Silvering SLVG
SLVG tokens are designed to make it easy to spend silver. The tokens represent real-world silver but they are much easier to move than physical silver. Since they are backed by the blockchain, they are also quite secure.
The team behind the token believes that real assets should back currencies. They believe that the currency you own today should be able to purchase as much as it did five years ago. However, due to the rampant printing of money, most fiat currencies lose their real-world value quite fast. This project is turning cash into a real store of value once again. The SLVG token team is creating an advanced stablecoin that is backed by physical assets.
Why the Team Chose Silver ?
There are various reasons why the team behind SLVG settled on silver as the asset to back their token. They include:
Silver costs about 70 times less than gold. Precious metals can protect your investment during a financial crisis.
- Growing industrial Use Cases
Silver is used in many industrial processes today. Its unique characteristics make it a good option for the solar PV sector, in coin making, jewelry, and many other purposes. The demand for silver will keep growing and its prices will keep rising.
- It is Easier to Sell
If you ever need to sell your silver, it would be easier to do so when compared to selling gold. Since gold is so expensive, even offloading an ounce of it can be a huge challenge.
How Silvering Works ?
Silvering is an ERC20 token that is backed 100% by physical silver. 1 SLVG is backed by 0.5 grams of physical silver. The tokens you hold represent physical ownership of silver than can be redeemed for the physical asset. Once you spend the Silvering token, you will be charged a transaction fee.
Part of the fee is used to increase the amount of physical silver that the SLVG token represents. Consequently, the more the SLVG network grows, the more valuable SLVG tokens become. It is the opposite of fiat currencies that lose value the more central banks print them. To grow the value of Silvering, the team behind this token has committed to buying back 5% of daily circulating supply.
Token Supply Details
Token Type: ERC20
Token Name: Silvering
Token Symbol: SLVG
Total supply: 6,220,695 SLVG
1SLVG = 0.5 g .9999 purity silver
Where to Buy SLVG ?
The SLVG tokens went live on the MercuriEx Exchange, their official exchange partner, on June 2. The tokens are currently trading at an average price of $.031. If you are looking for a lucrative coin that shows potential for growth, consider SLVG tokens. These tokens are backed by physical silver, whose value will no doubt go up with time.
Silvering Precious Metals LLC