Toto Finance has submitted a proposal to the Cardano community treasury requesting 22 million ADA, valued at approximately $5 million. The project, titled the Cardano Strategic Copper Reserve, aims to purchase physical COMEX Grade 1 copper cathodes to be stored in a warehouse near New Orleans and tokenized on-chain under the ticker CuTT.
The allocation plan specifies that 14.72 million ADA, or 66.93% of the total request, will be used for the metal purchase. The remaining funds are designated for technology development, insurance, custody, and independent oversight. The company plans to sell the tokens within 18 to 24 months and return all net proceeds and unused funds to the treasury within 36 months.
According to the proposal's break-even analysis, the price of copper must increase by approximately 49.4% for the treasury to recover its initial investment. This is due to the overhead costs associated with the project. The requested amount represents more than half of Cardano's remaining 42.6 million ADA withdrawal allowance.
Governance voting for the proposal is currently active, spanning from epoch 661 to epoch 668, with the window expected to close around November 15, 2026. Toto Finance, which previously launched a marketplace for tokenized precious metals in 2023, is backed by the Cardano Foundation Accelerator.
