Cardano's treasury is to swap 22 million ADA for copper. That is the core of a proposal put to the vote by the company Toto Finance: around two thirds of the sum would buy copper cathodes stored in an approved warehouse near New Orleans and represented by a token called CuTT. The metal is to be held for 18 to 24 months and sold the year after. The vote is already running and closes around November 15, 2026.
For holders of Cardano, this is no distant governance footnote. Anyone who has delegated their ADA to a representative helps decide this proposal, and does so even by doing nothing at all. That is where the second half of the news lies: one of the better-known representatives gave up the post a few days ago, and the voting power delegated to him has not counted since.
The proposal: 22 million ADA for a tokenised copper reserve
The plan goes by the name "Cardano Strategic Copper Reserve". The applicant is Toto Finance Inc., a company registered in Delaware that converts physical commodities into tokens. It was founded and is run by Monty Metzger; according to Read Entire Article
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