The Escrow and Accumulation Phase dates outlined in the previous "Fri-Dev" session were incorrect. Here is the correct information:
Escrow tokens unlock - 7/23/2025
New escrow begins - 8/1/2025
Accumulation Phase begins - 8/1/2025
Good day!
Here is what was covered in the weekly Fri-Dev Telegram meeting on May 30th.
First up, we are simplifying our Tokenomics a little. The breakdown will be:
Public - 7,000,000,000
Treasury - 1,750,000,000
Burn - 1,000,000,000
Team & Partnerships - 100,000,000
Community - 100,000,000
Charity - 50,000,000
We are combining the Treasury and Asset Accumulation Pools into one. This has to do with the fact that we have completed our trading strategy/policy with regards to XLVR tokens.
At this time our plan is to trade 250,000,000 tokens after the escrow unlocks. We will use the XRP received from this transaction [to pay for] future escrows.
And in conjunction with his change, the poll results (so far) are that 57% want to burn tokens as outlined in the original proposal.
After reviewing the number of people who voted on the burn process (only 7 including myself), I will keep that poll up until June 23rd, 2025. I will announce the burn process on that date based on the poll results.
The [current] escrow unlocks on June 23rd, 2025. Somewhere between then and July 1st, 2025, we will burn 250,000,000 Silverware (XLVR) tokens. Then we will trade 250,000,000 Silverware (XLVR) to XRP to cover future escrow costs.
We have no plans to trade any additional Silverware (XLVR) until we have seen a more significant positive price action for Silverware (XLVR).
That being said, we will be adding "Phases" to our roadmap.
They are:
- Launch Phase (where we are here right now)
- Accumulation Phase
- Backing Phase
Launch phase is where we are right now. It's the phase where we get the business, website, socials, policies, and partnerships for the basic operations of the project off the ground.
Accumulation Phase is the next phase where we begin accumulating funding/assets to build the precious metals pool. Our initial timeframe for this phase is 1 year starting August 1st, 2025. After the first year of the accumulation phase, we will re-assess whether additional time is needed for this phase to be completed. This phase will also allow us the time we need to become legally compliant for the backing aspect of the project.
Backing Phase is when we have built our asset pool and backing is live.
As I said before, we have no other plans to trade Silverware (XLVR) tokens beyond the 250,000,000. So, all of the remaining Dev Tokens will re-enter escrow for 1 year starting on August 1st, 2025, simultaneous the start of the Accumulation Phase.
Here is the timeline:
July 23rd, 2025 - Escrow ends
- Burn 250,000,000 Silverware (XLVR) - Awaiting poll results
- Trade 250,000,000 Silverware (XLVR) to XRP
August 1st, 2025 - All remaining Dev Tokens enter escrow (1yr)
August 1st, 2025 - The project enters the "Accumulation" Phase
The website will be updated to reflect these changes by next week.
Website dashboard mock-ups are done, and we are in the selection process for color schemes. Our goal is to get the dashboard online in June 2025. So far, no reports of any delays there.
Once we have selected the look, I will share a screenshot in here and over X
For precious metals vendor and storage setup. We have chosen a partner for both. For security and legal reasons, we cannot share that information here/now. This will be finalized during the Accumulation Phase.
Marketing
Of course we would like more participants in our project. But we do not want to perform any marketing campaigns until we have several more things in place. If things go as planned during the accumulation phase we will start with X ad campaign. We just want to make sure we have our ducks in a row before heavily promoting.
We appreciate the support from you all and your trust in us means a lot.
Thank you!
Happy Memorial Day!
Thank you to all of the brave men and women who have served, continue to serve, and those who have made the ultimate sacrifice all to protect our freedoms and our way of life! We cannot express our appreciation enough for all that you have given and continue to give to make our country great!
Good day!
Here is what was covered in the weekly Fri-Dev Telegram meeting on May 16th.
I have a few things to cover, but todays Fri-Dev will be shorter.
First, progress on the precious metals vendor and storage. In my zeal for transparency, I shared with all of you the vendors that I was considering and why I was considering them. Doing so, however, created a security issue for those companies. In addition, naming them on our website, X account, and in here led to unintentional "marketing". As a result, I had to remove or alter some posts earlier in the week to remove company names. That said, the search for a vendor and storage operation for Silverware (XLVR) assets will begin again, from the top. Unfortunately, for security reasons, I will only be able to share when we have formed a partnership and what country the assets are in. Anything beyond that could create undue security or legal issues. As for the verification of assets, once we begin building the asset pool, we will use a third-party service to audit assets.
So quick recap, we are still looking for a precious metals vendor and storage facility. We will provide updates once that has been completed but we cannot share anything else other than country location and when we have a third party for auditing.
On the website front. We have currently contracted with a web design team to create the dashboard that was mentioned in the previous meeting.
Once we have more details, we will post an update on our website, X and here. Expected completion is within 30 days.
Finally, the Trading Policy outline that was also mentioned last update.
This document has been drafted and is being reviewed.
One aspect of the Trading Policy is the burn process. The original proposal was to burn tokens proportionate to our trades. But we thought about changing that up and want the community's input.
POLL
[How would you like to see the Burn Pool Dev tokens handled?]
- Burn them as Silverware Labs' trades occur (original proposal).
- Burn them all at once in a single session.
- Burn them in 4 quarterly sessions.
- Burn them in 10 monthly sessions.
Okay, so there it is. Once this aspect has been voted on, I will be able to complete the Silverware Labs Trading Policy document.
Finally, we are wanting to raise awareness of our project. To do that takes marketing. We would love to hear the community's suggestions on this front. Feel free to DM me your suggestions and we will cover these ideas and put them to a vote next update.
Good day!
Here is what was covered in the weekly Fri-Dev Telegram meeting on May 9th.
Good morning, everyone. Hopefully you all had a great week. Nice pop in the market to boot!
Currently, I am starting the process of upgrading the website. Currently there is a page for charts. That page will be replaced with a dashboard page that has live price charts of Silverware (XLVR) side by side with a live portfolio performance chart of Silverware (XLVR) precious metals assets.
There will also be some basic analytics to include the portfolio's precious metals allocation and their 24-hour performance.
On the same page I also want to link the XRPscan website for easy access. The goal of this design is a one stop location to be able to research performance and activity of Silverware (XLVR) its wallet activity and the assets it holds.
The goal is transparency; we want to build trust in the community.
Moving on to selecting a precious metals vendor and storage vendor. I recently spoke with a representative about Silverware (XLVR) and what our goals are and based on their business practices it looks like Silverware Labs will move forward with a partnership upon receipt of an email response with a confirmation from them.
There are pros and cons to our partnership.
The pros are:
~ One stop for purchasing and storage
~ The yearly remote auditing for transparency
~ State of the art facility and security
~ Respected Insurer
~ Ability to "Drop Ship" to Silverware (XLVR) holders if they wish to "cash out"
~ Professional and responsive service team.
The cons
~ Additional fees with increased purchasing frequency
~ They do not accept cryptocurrency (XRP) as form of payment (yet)
So, to address the first con: Additional fees, we will alter our acquisition process so that we make 2 purchases per month to avoid purchasing fees related to frequency.
Likely we will schedule purchases on the 1st and 16th of every month once this process begins.
The second con: They do not accept cryptocurrency (XRP specifically) as a form of payment (yet). This sounds like it may change soon, but they could not provide any solid details when that may change.
So, to address this issue, when Silverware sells dev tokens to raise money for the asset pool to back it, the XRP will have to be converted to fiat (USD) which will be used as payment. This will happen by way of a secondary account which will be set up for Silverware Labs.
We will provide appropriate links so that transactions can be followed by the public. Again, our goal is transparency.
Back to the trading process, we will need to reconfigure our trading plan so that instead of daily purchase of precious metals, we will hold XRP gained through trading dev tokens in our wallet until [we purchase] precious metals. Then the XRP will be moved to the Coinbase Commerce account where it will be traded into Fiat. Once the Fiat has been received, it will be transferred into Silverware Labs' corporate checking account and then will be used to purchase precious metal assets.
To be clear, XRP raised through trades of Dev tokens [from] the Acquisition pool will not be used for storage fees. Storage fees will be paid for by fiat raised through Treasury Trades of Silverware (XLVR) to XRP to fiat.
Finally, all of this activity will be recorded on our website for the community's access.
And since I touched on the trading policy, which is mostly defined, I will be drafting a document which officially outlines the process entirely and posting it online, likely within a week from now.
There is one last con that I missed on that list and that is that they do not offer a portfolio view. So other than an inventory of what Silverware Labs may acquire, they offer no performance tracking. This is one main reason for the upgrade project for the website, to provide holders this feature.
So, as it stands currently, we are on track to meet the next 4 roadmap items in a timely manner. If that should change in any way, I will post updates to the website and in this channel.
Good day!
Here is what was covered in the weekly Fri-Dev Telegram meeting on May 2nd.
Good morning people. Hope your week has been good.
Alright, well let's get into today's Fri-Dev. The 2025 Roadmap has been uploaded to the website.
The most immediate Item on this chart is the trading process which Silverware Labs will use to raise money for the precious metals backing. I am in the process of wrapping this up. But before I do, I will be seeking an economic advisor or maybe a professor from local institutions for guidance and to make sure the plan is well prepared.
That said, I'd like to speak on the backing mechanism of our project a little.
Traditional backing mechanisms like the USD, you could exchange your USD for gold. We would like our process to be similar. When our backing goes live, we want any user, should they desire, to be able to cash out the value of their Silverware (XLVR) crypto for the same value in precious metals from the backing pool. So, the goal will be to build the precious metals pool to meet and/or exceed the value of each crypto token.
Because this is a meme coin and there is no smart contract setup to automate this process, it will be the responsibility of our team to manage these pools manually. Our goal is that we automate this process in the future, however.
This brings me to the trading process of how XLVR will be traded to raise the money needed for precious metals.
The original thought was that we wanted to designate an arbitrary amount to sell over a given period that was long enough to lower the impact of sell pressure. But after careful consideration, that may not be the best process for this project. What we are currently considering is a process where we leverage value pool of the backing assets against the value pool of Silverware (XLVR). What this means is that as the value per token of the Silverware Token approaches the value of the asset pool divided by the number of tokens in circulation, we will sell tokens to raise money to increase the pool of assets. In this way, we can ensure that there will be enough assets to meet or exceed the value of each Silverware (XLVR) Token and maintain its backing.
This will create a constant expanding and contracting value, almost a stairstep effect. Its volatility and swing, obviously, will depend on market sentiment.
Let me be clear that this is not a project that seeks to peg Silverware to any specific value. As this project continues, the volume of assets is not planned to decrease. The value of those assets will only decrease if the market moves that way.
All of these processes are still being worked out and I am in the process of finding an economic advisor to review these plans and provide guidance and or confirmation. Once these plans have been finalized, I will share updates through the website, here and send out notifications over X.
The next issue I'd like to cover is finding a precious metals vendor.
After some preliminary research, I will be exploring a partnership.
Finally, to maintain transparency for supporters of Silverware (XLVR), we want to create a dashboard that will display both the value per Silverware (XLVR) token in precious metals, vs. the value per token of the cryptocurrency along with a live performance chart of Silverware's assets.
We want supporters/users to be able to find whatever they need at our site. We will also be posting purchase orders for assets on the site for transparency. We also want to post our trades of Silverware (XLVR) for the Dev pool there as well so supporters/users will have quick access to our activity.
Hello
I’m writing this message to address the recent escrow account that was created using the "Unlocked" Escrow Bot and the reasoning behind escrowing all Dev tokens for 92 days. First and foremost, the escrow was set up to instill confidence in supporters that Silverware Labs is dedicated to the project and is not self-serving. While there are many pools of tokens that make up the entirety of the dev allocation, none of the tokens are required to be used for development at this time. It made the most financial sense to lock them up into a singular escrow. This may, however, raise questions about what happens after this escrow duration has concluded. Once the initial 92-day escrow has concluded, additional escrows will be created specific to their token pools. See pool breakdown below.
Team Member & Partner Tokens (150,000,000 total tokens)
These tokens will have a 4-year lockup with a 1-year cliff, releasing 25% of the allocation every year thereafter. These tokens will be lumped together into a 364-day escrow, after which, these tokens (less 25%) will enter a new 364-day escrow. This process will repeat until 4 years has elapsed.
Community & TBD Tokens (150,000,000 total tokens)
After the current 92-day escrow, these tokens will be entered into a new 31-day escrow. This process will repeat until a plan has been created for their use and/or issuance.
Treasury, Asset & Burn Tokens (2,700,000,000 total tokens)
I anticipate we may begin trading/burning some of these tokens starting in Q3 of this year in order to begin raising money to purchase commodities. This is not a certainty, however, and the current 92-day escrow gives us the time we need to evaluate this further.
Should trading to acquire precious metals begin in Q3, all remaining Treasury, Asset and Burn tokens not used will be placed into a new escrow starting on the 11th business day of the month, scheduled to be unlocked by the 1st business day of the following month for the next round of trading/acquisition. This process will repeat until the supply of these allocations has been exhausted.
Should we decide to delay trading in Q3 for commodities acquisition, Treasury, Asset and Burn tokens will be entered into a new 31-day escrow, along with Community and TBD tokens. Treasury, Asset & Burn Tokens will continue to re-enter escrow in this way until trading to facilitate commodities acquisition begins.
NOTE: All trades will immediately be followed by proportionate token burns outlined in our Tokenomics. Great care will be taken when performing these trades to minimize the downward pressure on XLVR. We do not want to “shock the system” with these trades. We expect the Asset and Burn allocations will (ideally) last multiple years. Once the asset acquisitions process is finalized, I will post an update here on the website outlining it in detail. This process will also be outlined in our 2025 roadmap which will soon be added to the website.
Thank you for your continued support!
Hello
I am writing this message to address the launch of Silverware (XLVR) and the lack of communication from the time of launch up to now. I recognize that this has caused frustration and uncertainty for many and for that I hope you can accept my humble apologies. Hopefully, by explaining a few things I will be able to provide you all with some clarity and peace of mind.
This project has been a dream of mine for a while and as the idea has evolved, I have sought the input and advice from family and friends along the way. I always imagined that some of those people would have joined me on this project. Though that did not happen, I decided to push forward, working on this project in my free time whenever possible all the way to launch.
Currently, I am the sole member of the team. While the hopes are to continue to add new members as the project grows, I currently do not have any community management to support the project nor a budget to do so. Regardless, I decided to launch the Telegram group. The intention was to provide a space for the community to interact and grow. I apologize for not being part of that from the start and for not having been more prepared. Between outside commitments and the project, itself, I was simply overwhelmed. But none of this [affects] my commitment to this project and its success.
Moving forward, my intention is to have weekly community sessions on Telegram every Friday, starting April 25th, 2025, at 10:00 am PST, with the intention of answering any questions you all may have. Additionally, project updates will continue to be posted on X and the project website. For clarity, I’ve also included a preliminary list of next steps I am actively working towards, below. I firmly believe that this project will be something great, and I hope you all will continue to support it.
NEXT STEPS
I cannot overstate what your support means to the project. My sincerest thank you to all of you.
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