Silverware Labs
About Us
Silverware Labs is a crypto startup that recognizes the utility of cryptocurrencies, the stability of commodities and a potential for synergy.
Silverware (XLVR) is Silverware Labs' experimental crypto that attempts to leverage the combined power of cryptocurrency and precious metals. Launched as a meme coin on the XRPL, XLVR intends to create a strong backing of precious metals while benefitting from the speed and efficiency of the XRP network.
Tokenomics
Public
Silverware Labs intends to mint a maximum supply of ten billion (10,000,000,000) Silverware (XLVR). 70% of coins minted will be immediately available to the public, while the remaining 30% will be used for further development and to help with operational costs.
Assets
14% of coins minted will be used to build asset holdings to back Silverware (XLVR). These assets will include silver, palladium and platinum and may also include other cryptocurrencies in the future. Cryptocurrencies being considered are those that have been designated as Digital Reserve/Digital Stockpile assets (BTC/ETH, SOL, XRP, ADA) by The President of the United States of America.
Burn
10% of coins minted will be burned. Silverware (XLVR) coin burns are currently planned to coincide with the acquisition of assets. The number of coins burned be will equal to half of the amount sold in this process. So, if Silverware Labs sells 10,000 coins, they will then burn 5,000 from the burn allocation.
Treasury
3% of coins minted will be allocated for Silverware Labs' treasury. Periodically, Silverware Labs will sell Silverware (XLVR) coins to raise money for operating expenditures like employee salaries and facilities costs. Whenever Silverware Labs sells XLVR coins from its treasury, it will burn the same number of coins from the burn allocation.
Team
1% of coins minted will be allocated to be dispersed to team members. Team member coins will be locked up for a period of one year. After the first year, 25% of a team member's allotment of coins will become unlocked along with another 25% each year after that until 100% of their coins is unlocked. Team members who have been awarded XLVR coins that leave the project early will still receive their coins following the same schedule. 50% of unawarded coins will return to the treasury while the other 50% will return to the burn allocation.
Community
1% of coins minted will be allocated to be dispersed to the community. These coins will be distributed through airdrops and special events. The details on airdrops and special events are still being worked out.
Partners
0.5% of coins minted will be allocated to be dispersed to partners and advisors. Coins dispersed in this way will follow the same lock up schedule and process as team members. Any unawarded coins will be returned to the community allocation.
TBD
0.5% of coins minted will be allocated for purposes which are yet to be determined. This pool of coins may be used to raise money for charity, add to liquidity pools, or for some other use that may not be applicable to any of the other allocations. The plans for this pool of coins are still being worked out. Any unused coins will go to the community allocation.
Frequently Asked Questions
Silverware is a meme coin on the XRPL, designed by Silverware Labs.
At launch, Silverware (XLVR) utility is that of possession.
To build a substantial backing of silver, palladium, platinum and cryptocurrencies and to become easily traded across multiple platforms.
Silverware (XLVR) will launch on firstledger.net. Accessibility via other exchanges depends heavily on the coin's performance there.
Assets acquired to back Silverware (XLVR) will be held/managed by third party vendors. Silverware Labs will not have self-custody of any assets acquired through the sale of its Silverware (XLVR) coin for the purposes of backing the Silverware (XLVR) coin.
No. Silverware Labs does not sell Silverware (XLVR) directly to anyone. To purchase Silverware (XLVR), please visit an exchange.
At launch, Silverware (XLVR) will be a meme coin only and will have no assets backing it.
The Silverware Labs team will sell Silverware (XLVR) to raise funds to then purchase the assets to back the coin.
Yes. To preserve liquidity and to limit the number of coins re-entering circulation from these sales, the Silverware Labs team is working on a process that involves incremental sales cycle that includes an immediate coin burn. The team will burn 1 Silverware (XLVR) for every 2 coins sold.
This is yet to be determined. We will update this once the Silverware Labs team is satisfied there is adequate interest in Silverware (XLVR).
Silverware Labs may begin selling Silverware (XLVR) at any time to raise money. Nonetheless, the team will take the same care to preserve liquidity. The team will also burn 1 Silverware (XLVR) coin for every 1 coin sold.
When Silverware Labs begins selling Silverware (XLVR) coins to raise money for assets, they will post all sales and acquisitions and the respective totals here, on the Silverware Labs website.
Here, on our website or by following us on X (Twitter) at x.com/silverwarelabs.
Contact Us
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DISCLAIMER
Silverware Labs does not offer financial advice nor is the information on this site intended to be used as such. Investing in any asset involves risk. Please research carefully and consult with an accredited financial advisor before investing in any asset.
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