Toto Finance Seeks 22 Million ADA for Tokenized Copper Purchase
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Toto Finance is seeking roughly $5 million from Cardano’s treasury for tokenized copper, with recovery dependent on prices exceeding the metal’s record high.
Toto Finance is requesting 22 million ADA, valued at roughly $5 million, from Cardano’s treasury to purchase tokenized copper, according to CoinDesk.
The proposal would direct treasury funds toward tokens representing copper, linking the outcome of the purchase to the metal’s price.
CoinDesk reports that copper would need to rise substantially beyond its previous all-time high for holders to recover the amount committed. The request therefore presents a break-even threshold above any price the metal has reached.
Source: CoinDesk
