Cardano holders are being asked to bet $5 million on copper hitting a new record
Toto Finance wants 22 million ADA from Cardano’s treasury to buy tokenized copper, and the metal would have to trade well above its all-time high for holders to get their money back.
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Summary
- Toto Finance is seeking 22 million ADA, or about $5 million, from Cardano’s treasury to buy and tokenize copper, with voting set to close Nov. 15.
- Copper would need to rise about 49.4% for the treasury to recover its investment if the full budget is spent and ADA’s dollar price remains unchanged.
- The proposal would use more than half of Cardano’s remaining withdrawal allowance, while Toto could receive up to 3.36 million ADA and retain commercial rights to its separately funded tokenized-copper business.
