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The silver leases behind thslvr also sit inside thusd.
Demand from solar, data centers and aerospace now feed an onchain dollar
Read more about thSLVR on @coindesk or @KitcoNewsNOW w the links below
Introducing thSLVR: yield-bearing silver, powered by silver financing.
A single solar farm uses up to 20 tonnes of silver in its panels, worth $40 million in today's prices.
Silver has the highest electrical and thermal conductivity out of any metal, making it critical in frontier applications like solar panels, nuclear reactors, data centers, and aerospace.
With Theo, companies who need silver can borrow instead of purchasing it.
This means lower capital costs, no price exposure, and reduced operational complexity, allowing businesses to focus on what matters.
Onchain investors can purchase thSLVR to gain exposure to yield-bearing silver.
Learn more: theo.xyz/articles/introducin…
Ari | Theo retweeted
Theo has 0 exposure to binance. Most backing lives offchain in gold and all onchain capital lives in a safe multisig with distributed signers and extremely strict policy-level controls.
✍️🗒️
Zooming out, GPUs are still renting ahead of a standard 6-year depreciation schedule
Rental price vs. schedule:
- H200: +143%
- B200: +111%
- RTX PRO 6000: +73%
- H100: +54%
- A100: +9%
Most of the gap opened up after April, when token demand took off
Charts of the Week: a16z.news/p/charts-of-the-we…
Ari | Theo retweeted
Our handle has changed from @theo_network to @theo_xyz. We still control the old account, but this is our primary X account moving forward.
Theo will never DM you asking for funds, private keys or seed phrases.
Ari | Theo retweeted
Theo is hiring a VP of metals.
20k referral bonus if you know anyone who:
- has 6+ years of experience
- held previous roles at a bullion bank, trading house, or broker
- has a deep understanding of metal financing and trade
- is based in London, NYC, Switzerland, Singapore or Dubai
You’ll get a chance to work alongside me, @iggyioppe and @abhi_pingle to transform how the metals industry works, starting with metal financing.
DM to chat!
Ari | Theo retweeted
We're hiring a VP of Metals.
Know someone? DM us.
Theo is hiring a VP of metals.
20k referral bonus if you know anyone who:
- has 6+ years of experience
- held previous roles at a bullion bank, trading house, or broker
- has a deep understanding of metal financing and trade
- is based in London, NYC, Switzerland, Singapore or Dubai
You’ll get a chance to work alongside me, @iggyioppe and @abhi_pingle to transform how the metals industry works, starting with metal financing.
DM to chat!
Coindesk: coindesk.com/business/2026/0…
Ari | Theo retweeted
Most people still trade silver like a cheaper version of gold.
It's not.
The buyers who set its price use it up. Solar, nuclear, data centers and aerospace need the metal on a production line, and many would sooner borrow it than tie up working capital in inventory whose price they can't control. That borrowing demand is what a silver lease gets paid from.
The $40M+ in silver leases committed at launch is proof of this demand. I expect industrial users to treat leasing metal as ordinary treasury practice within a few years.
Introducing thSLVR: yield-bearing silver, powered by silver financing.
A single solar farm uses up to 20 tonnes of silver in its panels, worth $40 million in today's prices.
Silver has the highest electrical and thermal conductivity out of any metal, making it critical in frontier applications like solar panels, nuclear reactors, data centers, and aerospace.
With Theo, companies who need silver can borrow instead of purchasing it.
This means lower capital costs, no price exposure, and reduced operational complexity, allowing businesses to focus on what matters.
Onchain investors can purchase thSLVR to gain exposure to yield-bearing silver.
Learn more: theo.xyz/articles/introducin…
Ari | Theo retweeted
Silver price volatility skyrocketed in the past year due to a series of supply shocks.
This made working with silver a nightmare for a lot of companies. Let’s say you’re a solar panel manufacturer and need 30,000 ounces of silver to fulfill an order. Silver price rallies, and what used to cost $600k is now 3m. You’ve already taken payment, you cant reneg on the order, and now you’re faced with a huge haircut on your margin.
We’re allowing these companies to lease their silver instead. This eliminates exposure to price, reduces capital costs compared to borrowing cash, and turns a (wildly) variable cost into a fixed cost.
Introducing thSLVR: yield-bearing silver, powered by silver financing.
A single solar farm uses up to 20 tonnes of silver in its panels, worth $40 million in today's prices.
Silver has the highest electrical and thermal conductivity out of any metal, making it critical in frontier applications like solar panels, nuclear reactors, data centers, and aerospace.
With Theo, companies who need silver can borrow instead of purchasing it.
This means lower capital costs, no price exposure, and reduced operational complexity, allowing businesses to focus on what matters.
Onchain investors can purchase thSLVR to gain exposure to yield-bearing silver.
Learn more: theo.xyz/articles/introducin…
Ari | Theo retweeted
Introducing thSLVR: yield-bearing silver, powered by silver financing.
A single solar farm uses up to 20 tonnes of silver in its panels, worth $40 million in today's prices.
Silver has the highest electrical and thermal conductivity out of any metal, making it critical in frontier applications like solar panels, nuclear reactors, data centers, and aerospace.
With Theo, companies who need silver can borrow instead of purchasing it.
This means lower capital costs, no price exposure, and reduced operational complexity, allowing businesses to focus on what matters.
Onchain investors can purchase thSLVR to gain exposure to yield-bearing silver.
Learn more: theo.xyz/articles/introducin…
India buys ~1/4 of the world's gold and mines ~1.5 tonnes/year.
The rest gets imported, and someone has to finance it. Safe to say this was an important conference
Gold lease income, which powers the trade behind thUSD, starts with the businesses that need metal to operate.
In August, @AriPingle and @iggyioppe went to the India Gold Conference in Goa to meet them: refiners, mints, vaulting and logistics firms, exchanges and brokers.
Special thanks to our partners @Monetary_Metals, @StoneX_Official and @MarexGlobal, and everyone who came to our event.
Ari | Theo retweeted
IGC had a fraction of the headcount of a crypto conference, but almost everyone in the room ran a refinery, a vault network or a bullion desk.
Metals events are built around people who have traded with each other for decades, and most of the real business happens in side meetings.
Pleasure doing business, IGC 🤝
Gold lease income, which powers the trade behind thUSD, starts with the businesses that need metal to operate.
In August, @AriPingle and @iggyioppe went to the India Gold Conference in Goa to meet them: refiners, mints, vaulting and logistics firms, exchanges and brokers.
Special thanks to our partners @Monetary_Metals, @StoneX_Official and @MarexGlobal, and everyone who came to our event.
Ari | Theo retweeted
The commodities super cycle is the most crowded call in macro right now, and almost everyone expressing it holds instruments that pay nothing.
Silver posted its strongest year since 1979, set an all-time high in January, and is running a sixth consecutive annual supply deficit with industrial demand near record levels. Through all of it, the metal earns a lease rate. Refiners, mints, and fabricators pay to borrow it every day, and that income lands with bullion banks and dealers, never with the people holding the exposure.
Tokenized markets have barely touched this. Gold has multiple onchain products. Silver has almost nothing at institutional scale, and nothing that pays holders.
That gap won't exist for long.
Ari | Theo retweeted
The leasing model isn't limited to gold.
⌛
The commodities super cycle is the most crowded call in macro right now, and almost everyone expressing it holds instruments that pay nothing.
Silver posted its strongest year since 1979, set an all-time high in January, and is running a sixth consecutive annual supply deficit with industrial demand near record levels. Through all of it, the metal earns a lease rate. Refiners, mints, and fabricators pay to borrow it every day, and that income lands with bullion banks and dealers, never with the people holding the exposure.
Tokenized markets have barely touched this. Gold has multiple onchain products. Silver has almost nothing at institutional scale, and nothing that pays holders.
That gap won't exist for long.
India's most-watched english business channel, and an editor who knows the bullion trade cold
no better platform for @iggyioppe to make the case
looking forward to this
Next week, our CIO @iggyioppe sits down with @CNBCTV18News.
On the agenda with Group Commodity Editor @Manisha3005: the gold credit desk banks walked away from, why India is ahead of the West on gold financing, and what it takes to put idle metal to work.
Exact date and time to be announced.
Ari | Theo retweeted
thGOLD and thUSD both run on gold leasing. The borrowers are refiners, bullion dealers, and jewelers financing inventory, most of them in Asia.
Once a year IGC puts that market in one room.
Four days of meetings with the people who actually move the metal.
