Dominion Market Unveils SILV, a Solana-Based Silver Token

Dominion Market has launched SILV, a Solana-based token that represents ownership of one troy ounce of physical silver stored in an LBMA-standard vault in Fort Worth, Texas. The token is live on several Solana DeFi platforms and recently priced around $64.63 per token.

Each SILV token is minted at the current spot price of silver plus a 1.5% fee, and corresponds to a specific allocation of silver stored in the vault. Independent audits are conducted by Bureau Veritas to provide bar-level weightlists and on-chain reserve attestation.

Dominion Market was founded by Mark Tormey in May 2025, and the company ran a small whitelist launch that was 4x oversubscribed. Live trading followed in August 2026, with SILV integrated with multiple DeFi platforms on Solana, including Sunrise, Orca, and Raydium.

Physical redemption of SILV tokens for actual silver bars is expected to begin three to six months after launch. Silver occupies an unusual position in commodity markets as both a precious metal and an industrial input, and the tokenized silver market's relatively small size suggests the category is still early.