The so-called Endgame Plan is rapidly (and strangely) evolving at Maker.
Now, after adding vanilla t-bills and creditors to the blockchain, a new proposal seeks to add tokenized uranium.
“Our goal is to democratize uranium ownership by providing stability value and easier access to exposure to a resource that is increasingly important,” Uranium3o8’s proposal reads.
The element has become increasingly popular lately, as several countries restart their nuclear ambitions in the name of energy, or draw up new plans to restart their electricity grids.
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Details are scarce, but one would suspect that these tokenized fuel bars would be on board the Maker Protocol.
Once added, all that DAI floating around in the ether could get a nuclear-backed boost from the tokenized uranium.
When asked for comment on the seriousness of this proposal, a spokesperson for Uranium3o8 said Declutter that it is indeed legitimately interested in becoming a DAI funder.
“If they are interested in this too, I’m sure we can find a way to make it happen. There’s a lot of work to be done to get to that point, but we’re doing everything we can to win it,” they say. said.
As for the Maker team, anything is possible for a DAO right?
MakerGrowth shared Declutter “This proposal is a contribution from an individual within the MakerDAO community and is currently under review by members of the DAO. The Maker Forum is open to contributions from anyone in the MakerDAO community.”
The aforementioned Endgame Plan was devised by Maker’s founder Rune Christensen to generate as much revenue as possible for the protocol through returns from real-world assets.
This income would then, at least according to the plans drawn up, be converted into Ethereum.
With a massive, censorship-resistant treasury, Maker’s decentralized stablecoin is thought to be immune to government capture. (Remember, the plan was introduced shortly after the Tornado Cash sanctions.)
Both ideas – tokenizing a volatile element and then using it to back crypto dollars – are kind of crazy.
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The first is nonsense because, based on the project’s proposal and marketing materials, it describes actual nuclear-grade uranium.
The project also briefly discusses a redemption mechanism to earn back one pound of uranium for each token.
When asked on Twitter about the redemption process, the project said people who have a permit and “meet the minimum threshold” can have that uranium shipped to their home.
By the way, that minimum threshold means that you must own at least 20,000 uranium-backed tokens, which also represents 20,000 pounds or 10 tons of actual uranium per Uranium3o8.
The Uranium3o8 spokesperson added that it is not responsible for the shipment of the live uranium. Instead, they approached a Canadian mining company called Madison Metals.
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“Everything related to touching, transporting or approving the delivery of the underlying uranium is carried out by them in accordance with industry standard compliance and regulations,” they said.
However, some are still not convinced, with another account simply writing: ‘feds’.
And the only response to this rather crazy proposal is a photo of an FBI agent working at a laptop, with his Glock right next to his home workstation.
For a stablecoin, adding uranium as collateral seems… well, volatile.
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