Silverway announces the partial migration of SLV on Binance Chain
Silverway is proud to announce that it is joining Binance in growing the Binance Chain ecosystem and supporting its development. Binance Chain offers users the benefit of self-custodied funds and the liquidity pool of the entire Binance community. Moreover, it has a core focus on speed, security and user experience.
We look forward to continued growth and success together with the Binance Chain family and all the other great projects which have already joined or will be joining in the future.
In joining Binance Chain, we will be migrating a major portion of our token ecosystem.
SLV is a utility token used for subscriptions and fee payments and additional platform purchases. The token ties the platform’s services together and allows Silverway’s investors to leverage platform growth, as every time a token is redeemed for fees or services, the smart contract burns a fixed percentage of the redeemed sum, while the rest is passed on to Silverway. This mechanism ensures that token value is dependent on platform usage
The integration of SLV with Binance Chain will consist of the launch of a new BEP-2 token called SLV-986, native to the Binance Chain ecosystem, and the subsequent migration of the majority of SLV ERC-20 tokens to SLV BEP-2 tokens.
50%+ of ERC20 SLV tokens circulating supply will be frozen on an oracle wallet and the equal amount of BEP2 SLV tokens will be created on Binance Chain. The remaining tokens that are yet to be unlocked will be proportionally distributed between ECR-20 and BEP-2.
The maximum circulating supply of the Silverway ecosystem across all chains remains as before: i.e 1,000,000,000. This will ensure continuity and transparency in regards to our market-driven token price and market cap.
Please note that there is no way to swap BEP-2 version SLV back to ERC-20 standard: this process is one-way, with no increase in total supply. The SLV ERC-20 held in private wallets or on other exchanges will not be impacted.
“We are extremely excited to be joining the Binance Ecosystem. Silverway will work to advance the adoption of cryptocurrencies globally by unlocking liquidity and increasing the velocity of the blockchain investment market, and by bringing new institutional investors into this area,” remarked Sergey Gurkin, Founder and CEO of Silverway.
About Binance Chain
Binance Chain is a blockchain software system developed by Binance and the community. Binance Chain is a community-driven development project with many developers and contributors from all over the world. Binance DEX is the decentralized exchange feature developed on top of the Binance Chain blockchain
About Silverway
Silverway is the first integrated provider of trading data and liquidity for private sale tokens. The platform provides professional investors with access to aggregated data and analytics on OTC transactions to support investment decisions and helps buy and sell private round tokens.
Silverway introduces an effective solution to an unstructured and non-transparent market segment, unlocking $4 bn worth of locked value. The current ecosystem already includes 750+ professional investors and hundreds of projects, and could potentially be opened up to far more accredited market participants.
The platform has been created by a team of former Goldman Sachs and Barclays Capital investment bankers and private equity professionals who have been amongst the pioneer professional investors in the crypto and blockchain sector. Silverway team has embarked on a journey to institutionalize the $4 bn private token sales market segment, making it more transparent and safe to invest.
