Matrixdock Silver (XAGm)
Research and shelf status are on the memo: Matrixdock gold and silver (XAUm, XAGm) Adverse research finding
Who may buy, hold, transfer, and redeem
Each answer rests on the issuer’s own words, quoted from the document named under it. Ketju re-reads each document and records whether the words are still there. Where the documents say nothing, the row says so.
- What the holder owns
The white paper calls XAGm fractional ownership of LBMA silver bars, but no terms and conditions cover XAGm, and the white paper says it is not a binding document.
“XAGm, the Matrixdock Silver token, represents fractional ownership of London Bullion Market Association (LBMA) certified silver bars”
Matrixdock: Silver XAGm white paper (17 Mar 2026) · 1. Abstract · words found 2026-09-23
- What the holder owns
The white paper disclaims any legal force.
“This whitepaper has been made to you solely for information purposes and is not intended to be legally binding.”
Matrixdock: Silver XAGm white paper (17 Mar 2026) · Important Notice · words found 2026-09-23
- Who may hold it
No document says who may hold XAGm on chain. Matrixdock serves no one in its prohibited places, which include the EU but not the United States.
“Due to compliance and regulatory requirements, Matrixdock currently doesn’t provide its services to customers from the following countries/regions/territories:”
Matrixdock docs: Prohibited Countries/Regions · Prohibited Countries/Regions · words found 2026-09-23
- First purchase minimum
$10,000 of stablecoins to mint with Matrixdock; 2,100 XAGm to redeem.
“The minimum amount for directly minting with Matrixdock is $10k of stablecoins”
Matrixdock: XAGm product page · FAQ: What is the minimum amount for the minting and redemption of XAGm and the fees associated? · words found 2026-09-23
- Who it may be transferred to
Freely, to any address, unless the operator has put the sender on the block list.
“XAGm ERC-20 enables seamless movement at any time without traditional financial market restrictions.”
Matrixdock docs: XAGm Token Features · Token Features, 1 · words found 2026-09-23
- How a holder redeems
KYC’d customers redeem at least 2,100 XAGm for silver bars or stablecoins, for 0.50%; the silver returned is the tokens times ozPerToken on the day.
“Redeeming XAGm for physical LBMA silver is at a minimum of 2100 XAGm.”
Matrixdock docs: XAGm Minting and Redeeming · Physical LBMA Silver Redemption Process · words found 2026-09-23
- Who keeps the official record
The chain, divided by Matrixdock’s own allocation of tokens to bars; the silver per token is the contract’s ozPerToken.
“The total supply of XAGm tokens multiplied by the ozPerToken value is intended to correspond to the total amount of physical silver in the vaults.”
Matrixdock docs: XAGm Token Design · Token Design · words found 2026-09-23
- What the issuer says it can freeze or take back
On Ethereum the operator key can block any address from sending at once, and the owner key can move any holder’s tokens at once with forcedTransfer. The documents mention neither and say privileged operations are time-locked; only upgrades and mints wait the four-hour delay.
“It is an upgradable contract and privileged operations are carried out in a time-locked way.”
Matrixdock: Silver XAGm white paper (17 Mar 2026) · 6. Technical Operations, ERC-20 Token Contract · words found 2026-09-23
| Fact | What the file records |
|---|---|
| Who onboards the holder | issuer |
| Voting rights | None |
| Distributions | None |
| SIPC coverage of the wallet | No |
Who can change the record
Powers read from the deployed contracts and their verified source: the token and every contract it consults on transfer. A power recorded here is the issuer’s ability, not evidence it has been used.
| Chain | Freeze a holder | Pause | Claw back | Gate holders | Change the code | Keys held by |
|---|---|---|---|---|---|---|
| Ethereum | Yes | No | Yes | No | Yes | A single key can claw back tokens. A single key can change the code with no delay. |
Who holds the keys
Every current holder of each power, read from the chain on 2026-09-23. A single key is one private key: whoever holds it acts alone. A multisig needs the stated number of signers. A timelock makes every action wait, so holders can see it coming.
| Chain | Key | What it can do | Held by | Address |
|---|---|---|---|---|
| Ethereum | Owner | grant and revoke these powers, change the code, claw back tokens | a single key | 0xb573…36d7 |
Ethereum: 2 contract reads at block 26042352, 4 functions in verified source, 2026-09-23
- eip1967.implementation=0x5e072c6689610c66e49a3067a4b488b4e27bc744
- owner()=0xb573c94260582f0715fc477928b04a2708dd36d7
- addToBlockedList in verified source 0x5e07…c744
- forcedTransfer in verified source 0x5e07…c744
- mintTo in verified source 0x5e07…c744
- etNextUpgradeToAndCall in verified source 0x5e07…c744
Where it trades
| Venue | Kind |
|---|---|
| Matrixdock app (app.matrixdock.com), KYC’d accounts only | issuer primary |
| Uniswap pool on Ethereum that Matrixdock links from the XAGm page | dex |
How it exits
| Path | Settlement | Fee | Settles in |
|---|---|---|---|
| Redeem in kind | A KYC’d Matrixdock customer asks by Telegram or email, sends at least 2,100 XAGm to an address Matrixdock gives, and collects silver bars in person or by secured delivery. The metal returned is the tokens times ozPerToken on the day, less the 0.50% fee; bars come from inventory on hand. | 50 bps | XAG (LBMA Good Delivery bars) |
| Redeem with the issuer in its window | A KYC’d customer redeems at least 2,100 XAGm on app.matrixdock.com for USDC or USDT at a quoted price inside a slippage limit, during trading hours of 6:00 PM to 5:00 PM the next day, New York time, on working days. Matrixdock sells the silver and sends stablecoins within T+3. | 50 bps | USDC, USDT |
| Secondary market only; no issuer redemption | A holder without a Matrixdock account, or with fewer than 2,100 XAGm, exits by selling on a third-party DEX. | stablecoins |
- On Ethereum, the implementation behind 0x123ffe0a3C62878dcbee2742227dc8990058d9E1 changes or an upgrade is requested (etNextUpgradeToAndCall is zero on 2026-09-23), the owner 0xb573c94260582f0715fc477928b04a2708dd36d7 or the operator and revoker 0x89bb23e4a82e04a253d9f11767fedf321c127799 changes, or the 14,400-second delay changes
- The owner calls forcedTransfer or updateAnnualFeeRate, or the operator adds an address to the block list
- The reserve feed 0x20377B5e38e0e992bbdcF3502EC72DED6a5E28ab changes owner, or its reserve (72,927 oz, set 2026-08-04) moves without a matching vault statement
- Matrixdock publishes terms and conditions for XAGm, or names the XAGm issuer
- Matrixdock adds XAGm on a chain beyond Ethereum and Sui, or the Sui coin’s treasury cap changes hands
- A Bureau Veritas audit finds a discrepancy, is missed (last: July 2026), or ozPerToken times supply stops matching the vault figure
- Matrixdock adds the United States to its prohibited list or changes the 2,100 XAGm or $10,000 minimums
What the monitor reads daily
Every control function in the table above and the contracts the token consults on transfer; the token’s on-chain supply against yesterday’s; and its market quote against yesterday’s quote. Every document quoted above is re-read too, and a quote that leaves its document reopens the file. A change opens a review item in the governance queue and reopens the file before any client action.
Sources
- Matrixdock: Silver XAGm white paper (17 Mar 2026) · primary · accessed 2026-09-23
Supports: fractional ownership of LBMA silver bars, prepared by Matrix Mining Limited and its affiliates, not intended to be legally binding, 0.30% custody fee through ozPerToken, privileged operations time-locked - Matrixdock docs: XAGm Token Design · primary · accessed 2026-09-23
Supports: ozPerToken falls daily, reconcileSupply mints fee tokens to the fee collector, supply times ozPerToken equals reserves - Matrixdock docs: XAGm Token Features · primary · accessed 2026-09-23
Supports: movement at any time, redemption subject to verified account status, allocation lookup - Matrixdock docs: XAGm Minting and Redeeming · primary · accessed 2026-09-23
Supports: KYC to mint and redeem, 2,100 XAGm physical minimum, trading hours, T+3 - Matrixdock docs: XAGm Contract Address · primary · accessed 2026-09-23
Supports: Ethereum MTokenMain, Ethereum reserve feed, Sui coin type - Matrixdock: XAGm product page · primary · accessed 2026-09-23
Supports: 73,040.462 XAGm and 72,927.000 oz on 2026-09-23, 73 bars, $10k minimum mint, 0.50% redemption fee, contract links - Matrixdock docs: Prohibited Countries/Regions · primary · accessed 2026-09-23
Supports: EU member states excluded, United States not listed - Bureau Veritas: audit report SGMSG-26-00478 for Matrix Infinitus Hong Kong Limited (17 July 2026) · primary · accessed 2026-09-23
Supports: 100% audit of 508 gold and 66 silver bars, Parcel Ownership List furnished by Matrix Infinitus Hong Kong Limited, Brink’s Hong Kong, Brink’s Singapore, Malca-Amit Singapore - XAGm implementation on Ethereum (MTokenMain, Sourcify exact match) · primary · accessed 2026-09-23
Supports: operator block list, instant, owner forcedTransfer, instant, owner sets annual fee up to 10%, instant, mint and upgrade delayed by the owner-set delay - XAGm reserve feed on Ethereum (FallbackReserveFeed, Sourcify exact match) · primary · accessed 2026-09-23
Supports: reserve set by the feed owner, owner 0x89bb…7799 is the token operator