Toto Finance is requesting 22 million ADA, about $5 million, from Cardano's community treasury for the proposed Cardano Strategic Copper Reserve. Toto converts physical commodities into blockchain tokens. Voting ends November 15. The proposed investment would bet on copper reaching a new record.
About two-thirds of the requested funds would purchase exchange-grade copper for storage near New Orleans in a COMEX-approved warehouse. Each verified pound would be represented by a CuTT token. The proposal calls for holding the copper for 18 to 24 months before selling the metal over the next year. The treasury would receive net sale proceeds and unspent funds by month 36. The treasury has no guarantee of recovering the original ADA investment.
The remaining third would pay for storage, insurance, audits, oversight and Toto's services. Copper would need to appreciate about 49.4% to recover the withdrawal if the entire budget is spent and ADA's dollar price remains unchanged. The proposal assumes a purchase price of $6.73 per pound and a sale price of about $10.06 per pound. Spending less would lower the break-even requirement. A rise in ADA's value would increase that requirement.
Toto founder and chairman Monty Metzger said bullish scenarios project approximately 30% annual copper appreciation, equivalent to 69% over 24 months and potentially exceeding the break-even requirement. Metzger also cautioned that commodity prices can fall. Metzger said Toto would take no profit from the proposal. Metzger attributed much of the spending beyond the copper purchase to oversight and auditing required by Cardano's constitution.
The budget assigns Toto 2.64 million ADA for technology and project management. The budget also provides Toto with an execution fee of 441,732 ADA. Toto could receive another 278,291 ADA at most through a margin on third-party storage and insurance invoices within the operating budget. Those payments could total about 3.36 million ADA, roughly 15% of the requested withdrawal. Toto would keep commercial rights to the platform and income from Toto's separately funded CuTT business. The treasury's financial return would consist of copper sale proceeds and unused funds. Metzger said Toto aims to expand the product to $5 billion in tokenized copper assets, with Cardano potentially serving as Toto's flagship showcase.
The proposal calls for initially minting the tokens on Ethereum and locking those tokens in a bridge that enables matching tokens on Cardano. The contracts and security reviews have yet to be completed. Metzger said trackers of tokenized real-world assets have historically concentrated heavily on Ethereum-based assets. Toto would legally own the copper. Metzger said an independent collateral agent and first-priority security arrangements would protect the treasury if Toto failed. Metzger did not identify the collateral agent.
Cardano has a withdrawal limit of 500 million ADA that extends through about July 2027. Withdrawals had reached 457.4 million ADA as of October 16. The copper proposal would use just over half of the remaining allowance. Repaying the proceeds would not restore that allowance under current rules. In late May, the Cardano Foundation sought 7.8 million ADA for the foundation's 2026 summit. The request received 65.21% support, below the required two-thirds, and the summit was canceled. Toto's request is nearly three times the size of the summit request.
Cardano Community Asked to Allocate $5M for Strategic Copper Reserve
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Summary
Toto Finance has made a project announcement requesting 22 million ADA (about $5 million) from Cardano’s treasury to create the Cardano Strategic Copper Reserve. The plan involves buying and storing copper, then tokenizing it as CuTT. Votes close November 15. The copper will be held 18–24 months before sale, with proceeds going to the treasury. Toto founder Monty Metzger said the goal is to scale to $5 billion in tokenized copper, with Cardano as a flagship. The move comes amid ongoing Federal Reserve news affecting market sentiment.
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