How Do CannDollars Work?

How Do CannDollars Work? 2018-08-22T12:40:50+00:00

CannDollar’s Continuous Silver Token Offering

CannDollar intends to launch its coin via a “Continuous Token Offering”. What this means is that CannDollar will continuously issue and redeem coins directly with purchasers, in-line with market demand.

Physical silver, backing each CannDollar token in issue, will be purchased directly from the Royal Canadian Mint or through the Mint’s dealer network and acquired at the lowest spot price available.

Once the physical silver coins are issued, the CannDollar digital tokens can be sold, held, or redeemed at any point by the user. The CannDollar exchange platform will charge a nominal fee on every transaction.

The CannDollar Coin Lifecycle

Through the CannDollar eWallet app, you are able to acquire physical silver coins online. You will immediately receive exclusive title of ownership, registered within the CannDollar vault network.

The digital representation of the registered physical silver is reflected as CannDollar tokens in your CannDollar eWallets.

From your eWallet, you have the option to manage, hold, sell, spend or redeem  your CannDollar digital tokens.

Transactions involving the sale of CannDollar digital tokens will result in the transference of title of ownership of these digital coins from the user’s wallet to the recipient.

The digital tokens that the recipient now holds, acts as an electronic bearer’s title to the physical silver backing those tokens.

CannDollars can be redeemed at any stage, through the CannDollar ecosystem in exchange for the equivalent amount of physical silver.

The CannDollar Transaction Process