Uranium.io, a uranium trading dApp powered by Tezos, goes live

Uranium.io, a decentralized application (dApp) on Tezos (XTZ), is now live, as reported to Finbold on Tuesday, December 3. 

Since uranium has traditionally been locked behind institutional gates, Uranium.io seeks to make the chemical more accessible to investors.

The platform is backed by Curzon Uranium, a global trading firm with over $1 billion in uranium transactions, and Archax, the first registered crypto exchange in the United Kingdom. 

Picks for you

Orbitt unveils a staking program with $2 million in rewards 1 hour ago
5 promising cryptocurrencies Coinbase just added to the COIN50 index 2 hours ago
AI predicts Chainlink (LINK) price for year-end  2 hours ago
AI predicts Bitcoin price for Xmas Day, 2024 2 hours ago

A surge in uranium demand

Global demand for uranium has been growing exponentially as more and more governments are pursuing net-zero emissions and turning to nuclear power as a more ESG-friendly solution.

Likewise, the new artificial intelligence (AI) industry has been investing heavily in nuclear power to meet its growing energy needs. 

For example, Microsoft (MSFT) is eyeing the Three Mile Island reactor, Google (GOOGL) has partnered with Kairos Power, and Amazon (AMZN) recently invested $500 million in X-Energy Reactor Company.

Unlike precious metals, uranium trading required over-the-counter deals with minimum lot sizes of 50,000 lbs, which amounts to a $4.2 million buy-in. 

Consequently, retail investors have typically had to rely on exchange-traded funds (ETFs).

Uranium.io seeks to break price barriers by tokenizing physical uranium and moving ownership on-chain. 

This approach is expected to eliminate steep entry costs and give retail investors wider access to the chemical.

Simplifying uranium trading

The platform operates on Etherlink, a Layer-2 (L2) blockchain leveraging Tezos Smart Rollups. 

Users can easily connect their wallets, complete an onboarding process, and purchase U3O8, also known as “yellowcake,” a key component in nuclear fuel production. 

Trade settlements and custody transfers are managed by smart contracts, which removes the need for intermediaries.

All uranium traded on Uranium.io is stored by Cameco, a leading uranium provider. 

Bringing more real-world assets on chain

According to VanEck, the market capitalization of institutional tokenized assets soared from near zero to over $300 million in 2023. 

Arthur Breitman, Tezos co-founder, highlighted the innovation behind Uranium.io: 

“Real world assets on chain are compelling when they meaningfully reduce friction or enable new economic arrangements. The launch of uranium.io on Tezos is a perfect example – transforming a market previously restricted by massive lot sizes and OTC overhead into something accessible and composable. This is particularly exciting as nuclear power is experiencing a revival.”

With Uranium.io, retail investors will have direct access to one of the world’s most critical commodities. 

Comments

Post a Comment

Popular posts from this blog

Ripple Analysts Predict XRP Surge to $0.66 as Volume Skyrockets

Image
With Ripple celebrating a year anniversary of a critical ruling in its ongoing legal battle with the US Securities and Exchange Commission (SEC), analysts predict XRP to surge to $0.66 as the tokens’ volume skyrockets. Moreover, investment interest has also surged, only strengthening the forecasts. XRP has surged above the $0.52 level following a 25% increase over the last seven days, according to CoinMarketCap. Additionally, the crypto has seen transactions increase to as much as $2.55 million, despite reversing to its current $1.6 million level. Still, there is reason to be optimistic for the token’s performance. Source – CryptoTicker Also Read: Ripple: Will XRP Skyrocket to $3.81 By 2030? XRP Could Continue Surging Far Above $0.6 Level, Analyst Says In a post to X (formerly Twitter), crypto analyst Dark Defender predicted that Ripple (XRP) could surge to the $0.66 level as its volume skyrockets. Indeed, the analyst noted that the crypto broke resistance at the $0.46...
Read more

Cardano: ADA To Pump At $10, Analyst Predicts

Image
Cardano, one of the domain’s notable crypto tokens, is yet to experience the bullish onset of the market that its contemporaries are currently basking in. Moreover, the token has long been trading between $0.40 and $0.47, drawing significant speculation on when its price will skyrocket. The ADA ecosystem is looking forward to the Chang Hard Fork update, which is poised to introduce noteworthy changes in Cardano’s infrastructure and order. With the hard fork timeline drawing in hard and fast, several crypto analysts are also busy predicting new price thresholds for ADA and speculating on Cardano’s future price levels.  Also Read: Analyst Predicts Timeline For Cardano’s ( ADA ) Bullish Price Breakout Chang Hard Fork Could Help ADA Surge To $10 Source: Reddit Cardano’s slow price pace has been a serious topic of contention within the crypto community. With the Chang Hard Fork upgrade in the mix, several analysts are banking on ADA ’s meteoric...
Read more

Setup for High-Quality Altcoins Looking Increasingly Favorable As Global Liquidity Gears Up for Expansion: Jamie Coutts

Image
Real Vision analyst Jamie Coutts thinks high-quality altcoins could be primed for price surges as global liquidity ramps up. Coutts tells his 18,600 followers on the social media platform X that the market looks close to washed out, global liquidity is about to turn higher and the risk/reward picture looks “increasingly favorable” for high-quality altcoins. “Top 200 Equal Weight vs. market cap weight ratio at extreme bearish levels. Currently, it’s -2.8 standard deviations ~ a bearish extreme that only hit on three previous occasions. • 2021: During a bull market that proved to be an excellent re-up for the cycle. • 2022: prematurely, but close to the cycle lows when the market was 70% down. • 2023: Near the SEC-catalyzed capitulation lows, Alts decisively broke higher four months later. Despite a small sample size, this breadth measure hints at upcoming cyclical bottoms and mid-cycle entries. Current data parallels 2021’s mid-cycle slu...
Read more