Web3: Dominion launches physical silver token SILV on Solana
Solana's RWA track continues to expand into the precious metals sector. Dominion has brought SILV, a token redeemable for physical silver, on-chain, with initial liquidity and protocol integration provided by Sunrise DeFi.
SILV represents 1 ounce of silver
According to the project introduction, SILV is backed 1:1 by physical silver, with each token corresponding to 1 ounce of silver. Dominion states that the issuer currently holds 150,000 ounces of silver bars, valued at approximately $9.7 million based on the figures cited in the article.
Dominion notes that this batch of silver is stored in institutional-grade vaults and subjected to third-party audits. The article mentions that the most recent audit was completed in June 2026, conducted by Bureau Veritas.
Redemption feature to be available in several months
The project disclosed that minting SILV requires a 1.5% fee. As for redeeming tokens for physical silver, the related process is expected to open within 3 to 6 months after launch.
In addition to direct minting, users can also purchase SILV through Solana DeFi applications. Sunrise DeFi will provide liquidity services, helping this asset be integrated more rapidly for on-chain trading, lending, and other use cases.
Solana commodity RWAs remain small in scale
The report, citing Dune data, states that assets launched by Sunrise have accumulated a total trading volume exceeding $5.5 billion, with more than 294,700 independent wallets participating, demonstrating Solana's growing capacity to bring external assets on-chain.
However, Solana's scale in tokenized commodities remains limited. According to RWA.xyz data, the total value of commodity assets on this chain is approximately $23.6 million, representing a market share of about 0.48%, trailing behind Ethereum and BNB Chain. The launch of SILV may not immediately change this pattern, but it indicates Solana is continuing to bring traditional assets like precious metals onto the on-chain market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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