August 2018 Update
Silvertoken (SLVT) is digital silver and is redeemable for the silver each token represents. Members of the Silvertoken community have been asking about when a dramatic rise in the price of SLVT may occur. Our goal is not to create a speculative token designed to make the founders or early investors rich. Our team has created a stable token designed to weather the boom and bust cycles of global markets. SLVT protects your purchasing power in a secure asset. Yes, the price of SLVT will most likely appreciate as the silver market rises, fiat currencies continue to inflate and the next recession unfolds in the months or years to come. However, being reactive to such an event means you’re already too late. The best offense is a good defense and Silvertoken is the best available defense in the world of volatile cryptocurrencies and global economies alike.
As many of you know, yesterday we intended to announce the listing of SLVT on a major exchange. After much discussion and in-depth analysis, our team has decided against listing with the intended exchange. As a matter of discretion, we have elected to withhold the name of the intended exchange and instead cover some key reasons for our decision to move forward in a different direction.
- The exchange was recently hacked and has not yet fully resolved the situation surrounding the hack. Vulnerabilities happen, but ones that are out of our control pose a direct threat to Silvertoken.
- The “gameable” nature of the exchange and the ease of price manipulation pose a threat. If traders effectively manipulated the price of Silvertoken below the spot price of silver, these bad actors could then redeem SLVT and drain the silver reserve at the cost of Silvertoken. This situation is unique to this exchange because of their pricing model.
Future Exchange Listings
Our team is in the process of listing with four other well-known exchanges. The details of these listings should be sorted out within the next couple weeks as well as an official listing announcement to follow.
It is important to understand how to hold your SLVT safely in a digital wallet. We are creating more in-depth information for the website on how to use SLVT and the wallets able to hold SLVT. For now, here is a list of wallets capable of holding SLVT:
MyEtherWallet with a Trezor or Ledger Nano S- https://www.myetherwallet.com/
MetaMask with a Trezor or Ledger Nano S — https://metamask.io/
Mist — https://github.com/ethereum/mist/releases (advanced users)
Parity — https://www.parity.io/
Mobile Wallets (iPhone)
Mobile Wallets (Android)
imToken Wallet — https://play.google.com/store/apps/details?id=im.token.app
Interview with Our Co-Founder Andrew Malik
Co-Founder, Andrew Malik, had the pleasure of sitting down and talking with well known cryptocurrency YouTuber CryptoRick. Andrew gives great insight into how Silvertoken came to be and the overall mission of Silvertoken. Give it a watch!
As mentioned in the recent interview with Andrew Malik and CryptoRick, Silvertoken has launched our Ambassador Program. Our team believes this program will be excellent for growth moving forward. This program is an excellent opportunity for those interested in Silvertoken to get involved. Many members of the Silvertoken community have been continually asking how they can help, and this is the best way! Not everyone who applies will be accepted, but we still encourage everyone with true passion to apply. Apply for the Ambassador Program Here
We want your feedback!
As a member of the Silvertoken community, we value your feedback. It helps in guiding the course of Silvertoken and in helping make key decisions in the community’s best interest. We value your feedback so much that we are giving away 50 StackerTokens to each community member who completes the questionnaire below. Complete Survey Here.