Uranium-backed Token Uranium3o8 Goes Live on Uniswap
Uranium3o8, an asset-backed token backed by uranium, has opened for trading on cryptocurrency exchange Uniswap. ...
- Uranium3o8, an asset-backed token backed by uranium, has been launched on Uniswap.
- The token aims to create the first-ever spot market for uranium.
- Madison Metals Inc. will provide the asset backing for the tokens.
- Buyers must follow a strict compliance protocol overseen by Madison Metals for physical delivery of the metal.
- Owners looking to redeem the physical commodity must hold a minimum of 20,000 U tokens and comply with local laws and regulations.
- The project has received interest in a $10 million order for delivering the metal to an enricher in Europe.
- Global uranium needs are expected to double by 2040 due to the growth in nuclear capacity.
The sentiment of the article is generally positive, highlighting the potential benefits of creating a more efficient market for uranium through tokenization.