What are my options for trustworthy silver backed ERC-20 tokens?

[Anonymous No.28528479]

[Anonymous No.28528900]

Interestingly, a Spanish silver dollar was often split into 8 pieces (hence the name pieces of eight) but these were known as bits.

A quarter was 2 bits, where the phrase' 2 bit' to mean cheap comes from.

Love silver for it's historical role but it's 300 year ago's hard money IMO

[Anonymous No.28529062]

>>28528479
Synthetix sXAG. You can always sell it at spot (except when the market is closed) and can fill you for any amount. The downside is gas for small orders right now as fees run about $150 until L2.

[Anonymous No.28529263]

>>28528479
I like PaxG for gold and am waiting for a nice silver option. Havent seen anything I like yet.

[Anonymous No.28529584]

>>28528900
Weak FUD, crypto markets are due for correction soon. When all the normies are talking about it its time to cash into something less volatile and sit for a bit anon.

Since the dollar is basically worthless at this point boomer rocks are the safest bet, silver also has tons up growth potential since COMEX keeps it suppressed vs its gold counterparts historical exchange rate. When the dollar shits the bed (soon) silver will pump harder then gold and even out around a 10:1 rate to gold.

Also silver market is way more thin then gold right now since low prices have caused tech to eat up most of the physical in solar panels and other green tech shit.

You shouldn't be giving financial advice anon, you know jack shit. Right now we are all playing chicken with the apocalypses to acquire enough capitol to get into a breakaway civilization.

Read Atlas Shrugged or probably the audio book since its dry as hell to actually read. The whole book is basically the elite fucking you over on purpose and laughing about it since they can all just fuck off to Atlantis when you mongs try and rob them through communism/socialism.

[Anonymous No.28530371]

look into kinesis KAG

[Anonymous No.28530728]

>>28529062
>fees run about $150 until L2
Ya fuck me, I just paid over 200$ interacting with a smart contract to get bar of physical gold delivered in meatspace. L2 is going to be A game changer, I am keeping most of my assets onchain for rapid accessibility to finance 2.0 but this price increase has to be screwing all of you poor fags out of the market compleatly.

>>28529062
Is it backed reliably and can we take physical delivery?

>>28529263
We need one bad, I am half tempted to set one up myself. I could have it done in like a month but the silver market is so fucking retarded right now.

Hypothetically speaking what would be the most trustworthy silver trust ERC-20 business structure you would trust? I am thinking allowing token exchange directly to delivered physical at A 100oz minimum and just leaving the physical in a rented bank vault or deposit box. Problem is silver is big and heavy so it might get to expensive to set it up that way at scale.

How would you store a shitload of silver without issues? The rest of the business is easy af. Just pump an ERC-20 token into uniswap for everything physical you actually have and have a separate pre-order token that automatically orders more physical and replaces itself with the normal silver ERC-20 once the pre-order token pool reaches the minimum to order the big bar.

The pre-order token solves the availability issue without you investing a ton of your own capitol as well as solving the supply and demand issue since arbitrage would cause people to buy it if the standard ERC-20 was overvalued.

[Anonymous No.28531127]

>>28530728
It is backed reliably but it is a derivative, so physical delivery is possible. You can ALWAYS swap it at spot, but only for stablecoins-- onchain collateral is fundamentally better IMO than relying on someones guarantee that they'll ship the silver too you. With synthetix you just swap between different assets with no slippage.

If you have more questions I'll keep f5ing. They are a launch partner for Optimistic Eth and have some aspect of the protocol on L2 right now.

[Anonymous No.28531342]

>>28531127
I meant can't but you called me a poorfag so now i'm less inclined to help you