At the heart of SLVR lies a drive to create and capture value by uncovering and developing the potential in each project we undertake. We believe in teamwork, innovation, professionalism, and long-term decision-making. We endeavor to preserve and enhance our reputation for integrity through all our actions.
Over the years we have focused our vision on the kind of company we aspire to be. Although markets fluctuate, our vision remains clear and steady. Our objective is to be a profitable leader in mining development while simultaneously producing value for our clients and token holders. We will consistently produce projects of lasting value. We recognize the need to be flexible, entrepreneurial, and aggressive, both as individuals and as an organization.For these reasons, we have created our digital SLVR token supported by the rich deposits we extract from the ground. A digital token supported by a proven commodity for millennia, SILVER. This precious metal provides individuals and organizations with a robust and decentralized method of exchanging value while using a familiar unit of value (Silver by the grain). The innovation of blockchain is an auditable and cryptographically secured global ledger. Asset supported token issuers and other market participants can take advantage of blockchain technology, along with embedded consensus systems, to transact in familiar, less volatile assets. In order to maintain accountability and to ensure stability in an exchange price, we propose a method to maintain a one to one reserve ratio between a cryptocurrency token, called SLVR, and its associated real world asset, Silver, once produced from the mine. This method uses the Ethereum blockchain, Proof of Reserves, and other audit methods to prove that issued tokens are fully supported and reserved at all times.
Compro Suoro enjoys a conflict-free relationship with adjacent communities by maintaining permanent communication and dialogue with those communities to encourage trust and integration. We have improved the standards of living based on supporting popular community interests alongside income- generating activities. Compro Suoro thus considers itself an integral member of its surrounding community.
The chief problem with money in the world is that most currency constitutes FIAT currency; it is supported by nothing and is bound to decrease in value to the point of extinction due to mass printing and hyperinflation. The average lifespan of fiat currency is only twenty-seven years. Even if a currency survives, it will experience inflation invariably. With central banks that wield the power to print as much currency as desired, combined with the destructive effects of inflation, the purchasing power of fiat monies experience a steady decline. The world’s oldest fiat currency, the British pound sterling (GBP), is an excellent example. Since its inception, the pound has lost 99.5 percent of its value. Historically, precious metals have been more robust in maintaining value because their worth has always remained steady. 2000 years ago, in the Roman Empire, for instance, a soldier’s suit of armor held a value of approximately an ounce of gold. Today, a nice suit would cost around one gold coin. Unlike fiat currencies, precious metals eschew price fluctuation.
SLVR is defined as an ERC20 compliant token implemented using the Human Standard by consensys. There will be a UNLIMITED supply of tokens since the silver producing mines will be extracting silver for the next 100 years. The first phase (10 years) will have 8,312,500,000 billion Tokens. SLVR is divisible up to six decimals. Additional features include a public variable, currentFloat, which tracks the total SLVR in existence and functions allowing the SLVR management team to mint new SLVR tokens as more silver is mined and the reserves in the physical vault increase. Note, the totalSuppy variable reflects the maximum supply that can be minted by the SLVR team while currentFloat represents the amount of SLVR tokens minted and redeemable for physical silver. The total supply of SLVR is initially 3,062,500,000 billion tokens and is raised according to a preset schedule described in section 4. We suggest that a single token be called a “SLVR”. We also define the ticker symbol as “SLVR” to represent one grain of actual silver exiting the mine. You can purchase tokens directly and at a fixed price via Ethereum and Bitcoin. The initial crowdfund will offer 1,750,000,000 billion tokens, another 1,312,500,000 billion will be minted and reserved by the SLVR management team as milestones are achieved. This allocates the first 3,062,500,000 billion grains of silver from the mine to be reserved to back the outstanding SLVR tokens before anymore SLVR can be minted. After the initial supply is fully secured by extracted silver, new silver emissions from the mine will be available for purchase in the form of SLVR via our exchange. The full contract code and explanation can be reviewed at: https://github.com/AaronJaramillo/SLVR
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