Silver and Gold! – roninapps – Medium
The price of SilverX is based on an ounce of Silver. The price of GoldX is set at 1/10 an ounce of Gold.
Visit the website of RONIN to view the up-to-the-minute prices on our new ticker.
Just like EuroX and like all X Tokens, SilverX and GoldX will function like cryptocurrencies inside our app, even though their values are pegged to precious metals. This means that you can hold them, use them for stability, send them to friends, or swap them directly into BTC, ETH, or EUROX.
Silver and Gold are some of the most ancient stores of value. However, it is a little tough to get by on a purse of golden coins in 2019. Using RONIN, you can interact with the world and pay back your friends in Gold without investing in a suit of armor to defend it.
How are they backed?
While all X Tokens are backed by assets inside Stichting Token Factory, SilverX and GoldX are a bit extra cool in that they are being backed by physical Gold and Silver coins. The first creation of GoldX (25 GOLDX) was backed by Canadian Maple Leaf coins, minted under the supervision of the Canadian Government and audited to be 99.999% pure Gold. The first creation of SilverX (100 SILVERX) was also backed by Canadian Maple Leaf coins, minted under the supervision of the Canadian Government and audited to be 99.999% pure Silver.
Both GoldX and SilverX were created based on an ERC20 contract, meaning that while it was inspired by one of the most ancient forms of money, it was created with fast, smart, new technology.
SilverX smart contract: https://etherscan.io/token/0xe15ad1943225054341523ba4f2c10d3130655f1f
GoldX smart contract: https://etherscan.io/token/0x3673e6a772fa6530626cd2fe071a30f92d46675f
Want to own some Silver or Gold in a first ever digital form? Then act fast! These tokens can sell out, and once they do, you might have to wait for a new minting before purchasing more.