Switch to seedless. Get 30% off with SWITCH30 till Oct 26Cardano treasury considers $5M copper token proposal
4.1 Investments Toto Finance seeks 22M ADA from Cardano’s treasury to tokenize copper. Copper prices must rise nearly 50% to break even. Voting closes November 15.
Toto Finance has proposed to the Cardano community treasury a request for 22 million ADA (about $5 million) to create a tokenized copper reserve. The plan is to purchase COMEX Grade 1 copper cathodes, store them in a warehouse near New Orleans, and issue CuTT tokens on the Cardano blockchain, each representing one pound of copper. Roughly two-thirds of the funds would go toward buying copper, with the rest allocated for storage, insurance, audits, and management. The copper would be held for 18 to 24 months before being sold, with net proceeds and unused funds intended to return to the treasury within 36 months. For the treasury to recover its investment, copper prices would need to rise by about 49.4%, assuming ADA’s price remains stable. The proposal would use over half of Cardano’s remaining treasury withdrawal allowance. Voting is open until November 15.
