# SilverMint $SLVM

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## OVERVIEW

SilverMint will be the second peg token within the ecosystem pegged to (you guessed it) the price of 1 troy oz. of Silver, This is done by utilizing Chainlink Data Feeds as there is no solid Silver token to peg against. This will add two (2) new tokens and one (1) new LP pair into the ecosystem and is here to help benefit the GoldMint Finance ecosystem, it is not here to take away from growing and building GoldMint. New pool(s) will be added to the Vaults earning **SGLDM,** a new "Boardroom" ( S MINT ) where you stake **SGLDM** and earn **SLVM** when over peg, as well as a new Foundry (S Foundry) to acquire **BSLVM** when it's trading below peg. This will drive value back to the core ecosystem and allow those who have been acquiring and growing GoldMint Finance tokens/LP to gain a good entry into this part of the ecosystem, while also helping to incentivize new participants. Expect a better-structured genesis phase that will benefit true believers of the project and penalize those who choose to exit early or try to game the genesis pools.

## DETAILS

{% hint style="warning" %} <mark style="color:yellow;">**WL ONLY GENESIS POOLS**</mark> \
\ <mark style="color:yellow;">**WL is needed for participating in Genesis ONLY**</mark> \ <mark style="color:yellow;">**NO WL NEEDED TO PARTICIPATE IN MAIN VAULT FARMS AFTER GENESIS**</mark>\
\ <mark style="color:yellow;">To get a WL spot you have to send 0.125 PAXG to our DAO,</mark>\
\ <mark style="color:yellow;">0xf372fdf10d31a01F028FEBe7894449402536ff99</mark>\
\ <mark style="color:yellow;">Once completed, send us a message on any of our Socials, Discord, Twitter, Telegram, and send the transaction link, that address will be added to the WL</mark>\
\ <mark style="color:yellow;">Node WL and SilverMint WL are the same,</mark>\ <mark style="color:yellow;">(Everyone who is on the Node WL is automatically entered into this WL)</mark>
{% endhint %}

Introducing a Linear sell tax that is based on SLVM peg, when SLVM is trading at or above 1.0 peg there will be a 0% sell tax but as the peg lowers, the tax increases. There is no tax for creating or breaking LP, more on that in the "<mark style="color:yellow;">!</mark>" box below.

* SLVM Peg = 1.0+ = 0% sell tax
* SLVM Peg = 0.9 = 10% sell tax
* SLVM Peg = 0.8 = 20% sell tax
* SLVM peg = 0.7 = 30% sell tax
* SLVM peg = 0.6 = 40% sell tax\
  \
  **The tax will hit a cap when,**&#x20;
* SLVM Peg = 0.5 = 50% sell tax\
  \
  **Meaning the tax will never be greater than 50%**

{% hint style="warning" %} <mark style="color:yellow;">Creating/breaking SLVM/USDC LP will be hosted on Uniswap and within the website on the SLVM/USDC LP Vault pool. It's best to use the website to create LP if SLVM is below peg,</mark> <mark style="color:yellow;"></mark><mark style="color:yellow;">**if you create LP on UniSwap when SLVM is below peg**</mark> <mark style="color:yellow;">**YOU WILL BE TAXED.**</mark>
{% endhint %}

<figure><img src="/files/7E1XaT6YwxayeaEtew0h" alt=""><figcaption></figcaption></figure>

\ <mark style="color:yellow;">**SEPTEMBER 19TH, 12 PM EST**</mark> - SilverMint Genesis - 5000 tokens - 3 days long\
\
Genesis Pools will accept **GLDM/PAXG LP** <img src="https://cdn.discordapp.com/emojis/964013297701625927.webp?size=96&#x26;quality=lossless" alt=":gldm_paxglp:" data-size="line"> **- SGLDM/USDC LP** <img src="https://cdn.discordapp.com/emojis/966371851871854692.webp?size=96&#x26;quality=lossless" alt=":sgldmusdc:" data-size="line"> **- GLDM**<img src="https://cdn.discordapp.com/emojis/956762635028791376.webp?size=96&#x26;quality=lossless" alt=":GLDM:" data-size="line"> **- SGLDM**<img src="https://cdn.discordapp.com/emojis/956762322846777344.webp?size=96&#x26;quality=lossless" alt=":SGLDM:" data-size="line"> **- SLVM/USDC LP** <img src="https://cdn.discordapp.com/emojis/1019296924630777937.webp?size=96&#x26;quality=lossless" alt=":SLVMLP:" data-size="line"> - **USDC** <img src="https://cdn.discordapp.com/emojis/956932618576863313.webp?size=96&#x26;quality=lossless" alt=":USDC:" data-size="line">\
\ <mark style="color:yellow;">**1% Deposit fee for single stake pools**</mark>**, GLDM**<img src="https://cdn.discordapp.com/emojis/956762635028791376.webp?size=96&#x26;quality=lossless" alt=":GLDM:" data-size="line">**, SGLDM**<img src="https://cdn.discordapp.com/emojis/956762322846777344.webp?size=96&#x26;quality=lossless" alt=":SGLDM:" data-size="line">**, USDC**<img src="https://cdn.discordapp.com/emojis/956932618576863313.webp?size=96&#x26;quality=lossless" alt=":USDC:" data-size="line"> **-** Goes to Multisig DAO for POL

The start of the genesis phase will focus on the first 4 tokens/LP listed above, after about 4-6 hours the allocation will be switched to primarily focus on the new **SLVM/USDC LP -** A close eye will be kept on the pools APR and TVL to determine whether or not allocation needs to be changed throughout Genesis

<mark style="color:yellow;">**SEPTEMBER 22ND, 12 PM EST**</mark>**&#x20;-** Genesis pools will close and two (2) new pools will be opened within the GoldMint Finance Vaults - SLVM/USDC LP & BSLVM (Bond SilverMint) - Earning SGLDM emissions + At the same a new Boardroom ( S MINT ) will be opened where you can stake SGLDM to earn SLVM when above peg and the S Foundry will open for acquiring BSLVM.

## FAQ

* **How will SilverMint benefit the GoldMint ecosystem?**\
  \
  Lets start with the basics and genesis phase, SilverMint will be a part of the GoldMint Finance ecosystem, **not another protocol**. Genesis will be hosted on the GoldMint Finance website using primarily GoldMint Finance tokens and LP for the distribution of SLVM, this will ensure everyone still hodling and believing in GoldMint will get the best entry and starting point for when the Vault pools start emitting rewards.<br>
* **Won't SilverMint take away from GoldMint?**\
  \
  No. When the Genesis pools open for SilverMint the TVL from the Vault pools will leave to enter those genesis pools, in turn, this will **increase APR in the regular Vault pools** which will drive the incentive to acquire more GoldMint tokens/LP. \
  \
  At least 1 new pool will be added into the Vaults that emit SGLDM rewards, that will be the SLVM/USDC LP pair. Doing so gives the same effect as the genesis pools because it will take some TVL away from the GoldMint pools and increase its APR. This also allows us to thin out the distribution of SGLDM and make it more valuable by being harder to acquire, this, in theory, can lower the APR if the price of the Share token stays the same but remember, since the beginning of the protocol we've always said this **is not a degen project**. \
  \
  At the same time when the new Vault pool(s) open, a **new "Boardroom" will be available** in which you can stake **SGLDM** to earn the SLVM token when it is trading above peg, this will bring more utility to the Share token.<br>
* **How will you make sure this new peg token can actually stay at peg?**\
  \
  We've learned from experience genesis is truly one of the hardest parts of launching a new protocol. You have to guess what the TVL might be to figure out how many tokens you need to distribute and estimate how many people will participate in a healthy manner, as you may guess it is extremely hard to accurately know what these figures will be. After the launch, we realized we had emitted too many tokens to account for TVL and what we had hoped to achieve in building LP, we also had **a lot** of bad actors who sold genesis tokens immediately after acquiring them which caused a massive dump in price. \
  \
  Knowing now what may have gone wrong will help us to structure this new token in a better and very healthy way. One key point to note is that this genesis and new token launch is only meant to directly benefit the healthy actors in the protocol and those who believe in the long-term, everyone who holds LP are the true believers in the protocol and will always be looked after. Coming into this genesis with a "quick return" mentality will not be successful as we're looking to implement some healthy ways to combat the "genesis dumpers".


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