Dominion Market has launched SILV on Solana, a tokenized silver product designed to give DeFi users exposure to physically backed bullion in a market that remains far smaller than tokenized gold. The company says each SILV token represents ownership of one troy ounce of physical silver held in allocated, segregated custody at an LBMA-standard vault in Fort Worth, Texas, with independent audits by Bureau Veritas providing bar-level weightlists and onchain reserve attestation. SILV is minted at the spot price of silver plus a 1.5% fee, recently traded around $64.63 per token, and is now live on Solana platforms including Sunrise, Orca and Raydium. Dominion Market, founded by Mark Tormey in May 2025, said a whitelist launch was four times oversubscribed, a pilot began on May 26, 2026 with silver already acquired to back the initial supply, and physical redemption for silver bars is expected to begin three to six months after launch. The rollout comes as tokenized gold stands at roughly $6 billion versus about $350 million for tokenized silver, highlighting a large gap that Dominion argues reflects underdeveloped market infrastructure as much as investor demand. The fee structure also sets SILV apart from traditional silver ETFs, which typically charge annual expense ratios of 0.3% to 0.5%, while offering DeFi utility that exchange-traded products do not.