Borrow against tokenized silver
Teller pools accept SLVon, Ondo's tokenized iShares Silver Trust, as collateral on Ethereum at up to 50% LTV, lending USDC at 20% APR, the same terms tokenized gold earns. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| SLVon | Ethereum | 50% | 20% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
Not a company. A silver ETF, tokenized
SLVon sits with the tokenized equities on this platform and is not one. The contract at 0xf3e4872e6a4cf365888d93b6146a2baa7348f1a4 reads “iShares Silver Trust (Ondo Tokenized)”: a token tracking a fund, which in turn holds the metal.
So there are three layers between you and the silver. Ondo holds the fund share, the fund holds the bullion, and you hold a token tracking the fund share. Each layer is a party that has to keep doing its job for the price link to hold, and that is a longer chain than a tokenized company share, where the issuer holds the stock directly.
Priced like gold, not like an equity
The row clears 50% at 20% APR. That is well below what the tokenized shares here earn and well above their rate, and it lines up almost exactly with tokenized gold, which clears the same share of its value at the same rate.
Two metals, two very different tokens, one set of terms. The operator is pricing the asset class rather than the wrapper, and the equity pools sit in a different band entirely.
Silver moves more than gold does
Silver has industrial demand as well as monetary demand, which historically makes it the more volatile of the two metals. If you hold both and are choosing what to deposit, that is the difference to weigh, since the ceiling and rate on offer are the same either way.
The supply here is about 342,285 tokens, far larger than any tokenized share in the set, which follows from a fund share costing a fraction of a large-cap stock.
The loan
Deposit SLVon, receive USDC, repay or roll on the due date. There is no liquidation threshold during the term. Every loan is fixed-term with no margin-call. Miss the due date and the collateral is forfeit. The pool is on Ethereum, so budget mainnet gas across the approval and the borrow.
The tokenized stocks page covers the rest of the Ondo set.
Frequently asked questions
No. It tracks the iShares Silver Trust, a fund that holds the metal, so it sits with the tokenized equities on this platform without being one.
Three layers: Ondo holds the fund share, the fund holds the bullion, and you hold a token tracking the fund share. That is a longer chain than a tokenized company share, where the issuer holds the stock directly.
The terms line up almost exactly: the same share of collateral value at the same rate. The operator is pricing the asset class rather than the wrapper.
The ceiling and rate are the same either way, so the difference is the asset. Silver has industrial demand as well as monetary demand, which historically makes it the more volatile of the two.
Nothing happens to the loan. There is no liquidation threshold during the term. Only a missed due date forfeits the collateral.
Open a loan
Connect a wallet, deposit your collateral, and borrow a stablecoin. No credit check, no application.
Go to the borrow tab →No collateral to pledge? Check whether you pre-qualify for a no-collateral personal loan. Soft check, no hard pull.