Toto Finance seeks $5M from Cardano treasury for copper reserve

Cardano’s community treasury has a new kind of spending request on its desk. Toto Finance wants 22 million ADA, about $5 million, to buy a pile of copper. The proposal is called the Cardano Strategic Copper Reserve. Under its own assumptions, copper would need to climb roughly 49.4% before the treasury simply gets its money back. What Toto Finance is asking for Toto Finance Inc. is a Delaware-based company that turns physical commodities into blockchain tokens. Its pitch to Cardano governance is fairly direct: use treasury ADA to buy real metal, then tokenize it on-chain. The copper in question would be verified COMEX Grade 1 cathodes. These are the standardized flat sheets of refined copper that industrial buyers trade. Each token would represent one pound of the metal and trade under the ticker CuTT. The physical copper would sit in a warehouse near New Orleans. The plan calls for selling the tokens after 18 to 24 months. Of the 22 million ADA requested, 66.93%, or ₳14.72 million, would go toward buying the copper itself. The rest would cover technology development, custody, insurance and independent oversight. That split matters. Only about two-thirds of the treasury’s money act...