Toto Finance Seeks 22M ADA From Cardano Treasury for Copper Reserve
- —14.72 million ADA (66.9%) would buy COMEX Grade 1 copper cathodes, with the rest covering storage, insurance and audits
- —Break-even at full budget requires copper to rise from $6.73 to $10.06 per pound, a 49.4% gain
- —Toto would retain legal title to the copper and commercial rights to its tokenization business, earning up to 3.36 million ADA
- —Approval would consume 51.6% of the remaining 42.6 million ADA treasury allowance through July 2027
Why it matters: The vote will test whether Cardano's governance is willing to fund a speculative commodity bet using nearly all of its remaining treasury spending capacity.
Source: Coinpaper