Solana's RWA track continues to expand to the precious metals field. Dominion has put in a chain the convertible silver currency SILV, and Sunrise DeFi provides initial liquidity and protocol access support.
SILV corresponds to one ounce of silver.
According to the project description, SILV is supported by physical silver 1:1, which corresponds to 1 ounce of silver per token. According to Dominion, the issuer currently holds 150,000 ounces of silver bar, valued at approximately $9.7 million by medium calibre.
Dominion states that the silver was kept in institutional vaults and subject to third-party audit. It is mentioned that the last audit was completed in June 2026 and that the implementing party was the Breau Veritas Group.
It's gonna take months to redeem.
The project disclosed that the user casting SILV was required to pay 1.5%. As for the conversion of tokens into real silver, the process is expected to be open within 3 to 6 months after they are online.
In addition to direct casting, users can buy SILV through Solana DeFi applications. Sunrise DeFi will be responsible for liquidity services to facilitate faster access to the assets in the context of chain transactions, lending, etc.
Solana merchandise RWA is still small.
Citing Dune data, it was reported that Sunrise had more than $5.5 billion in cumulative transactions on-line assets and more than 29.47 million independent wallets involved in transactions, indicating that Solana ' s chain capacity for off-site assets continued to expand.
However, the volume of Solana in the field of monetized commodities remains limited. According to RWA.xyz data, the total value of the commodity assets associated with the chain is approximately $23.6 million, with a market share of approximately 0.48 per cent, which lags behind YTA and BNB Chain. The introduction of SILV may not change this pattern immediately, but it means that Solana is continuing to introduce traditional assets such as precious metals into the chain.