---
title: "iShares Silver Trust (Ondo Tokenized) (SLVon) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/slvon-ondo/"
description: "Build-time stablecoin profile for iShares Silver Trust (Ondo Tokenized) (SLVon). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-24"
---



# iShares Silver Trust (Ondo Tokenized) (SLVon)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

SLVon is Ondo Global Markets' tokenized exposure to the iShares Silver Trust, tracked as a {{term:rwa}}RWA{{/term}} NAV asset rather than a $1 stablecoin. The token gives eligible non-U.S. investors economic exposure to SLV on Ethereum, BSC, Solana, and HyperEVM, with Ondo handling the issuer, subscription, and redemption infrastructure. The useful feature is composability for a listed ETF; the tradeoff is that holders own an Ondo GM token, not direct ETF shares or physical silver. Risk therefore lives in the Ondo GM legal structure, collateral attestations, access controls, and secondary-market liquidity.

## Collateral

Ondo Global Markets tokenized ETF exposure referencing iShares Silver Trust (SLV), designed to provide economic exposure to the underlying publicly traded ETF through Ondo GM rather than direct ownership of ETF shares

## Peg Mechanism

NAV-style SLV ETF tracker rather than a $1 peg. Eligible onboarded investors redeem to USDon; conversion to USDC depends on stablecoin-swapper liquidity and whitelist access. The documented minimum is $1, while executable limits and quote spreads are account- and asset-specific.

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| British Virgin Islands | N/A | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xf3e4872e6a4cf365888d93b6146a2baa7348f1a4` | 18 |
| bsc | `0x8b872732b07be325a8803cdb480d9d20b6f8d11b` | 18 |
| solana | `iy11ytbSGcUnrjE6Lfv78TFqxKyUESfku1FugS9ondo` | 9 |
| hyperevm | `0xd53d98d13d93c817011645442c2e4d46e499b460` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/slvon-ondo.