Uranium-backed Token Uranium3o8 Goes Live on Uniswap

Crypto News
Crypto News

21 Nov 2023 9:15 PM

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.

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You May Ask

What is Uranium3o8 and what is it backed by?Where can Uranium3o8 be traded?How is the compliance protocol for physical delivery of the metal enforced?What are the requirements for redeeming the physical commodity?Why is there a surge in demand for uranium and what are the projections for future growth?

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