Ember Silver (EXAG) Tokenomics: Low Liquidity or Overvalued?

The fully-backed tokenized silver product, Ember Silver (EXAG), was issued by Ember Protocol on Canton Network. Each EXAG token represents ownership exposure to one troy ounce of physical silver held within a partner custody and reserve framework.

Canton announced that Ember Protocol was live on the network on July 18, 2026, providing access to tokenized gold and silver through eXAU (Ember Gold) and eXAG. The Canton Network is a blockchain designed for regulated financial markets with privacy controls and settlement finality intended for institutional asset issuance.

The total supply of EXAG tokens is $6.06K, with the same number in circulation. This suggests that there are no locked or reserved tokens, which may contribute to higher liquidity. The FDV (Fully Diluted Valuation) is $403.51K, indicating a potentially overvalued token.