Energy will be a crucial feature in the future. It’s a commodity that humanity needs to flourish. Countries around the world commit to reducing their carbon emissions.
They are now looking for low-carbon sources of electricity. As a result, there may be an increase in demand for nuclear power. Now there’s a new token, Uranium3o8, the first-ever Uranium-backed token. So, let’s dive into what is this token all about.
🟢Introducing Uranium3o8, the first ever Uranium backed token.
Let's dive into what it is, how it works, and why it's set to revolutionize the way we think about power.
— Uranium3o8🟢 (@Uranium3o8) September 14, 2023
What Is Uranium3o8?
Uranium has been at the forefront since 1930. That’s when Otto Hahn and Fritz Strassmann discovered nuclear fission. Currently, Uranium accounts for 10% of the global electricity supply. It’s viewed by some as a form of clean energy. However, you would rather not find yourself near a nuclear plant meltdown like Chornobyl.
So, nuclear energy produces 750x more energy than it takes to provide. In contrast to solar energy. This produces only 1.6 more energy than it takes to provide. In other words, the energy ROI is tremendous.
In 2022, nuclear energy operated at 92% full capacity. It outperforms natural gas and coal by 1.5 to 2 times and wind and solar by 2.5 to 3.5 times. Another comparison is a single uranium fuel pellet. It has a comparable energy density to:
- 3.5 barrels of oil,
- 17k cubic ft of natural gas,
- 1 ton of coal.
As a result, Uranium is currently in high demand. Nations that are looking to reduce carbon emissions look into nuclear energy. However, sourcing or gaining access to uranium is not always easy.
So, that’s why there’s now Uranium3o8 ($U). This is a Uranium-backed digital token. One U token is the same as 1 lb (0.45 kg) of audited uranium from a licensed and regulated uranium mining partner.
So, what we have here is another sample of RWAs or real-world assets. In other words, tokenized digital assets. The advantages of this, are:
- An easy market entry without holding physical uranium.
- Blockchain-powered transparency.
- Increased liquidity & market efficiency.
The picture below shows some advantages of owning the $U token.
Source: Uranium3o8 website
The $U Token
The $U token will soon see a public sale. There will be four tiers. On their app, you can sign up and allocate ETH to either or all tiers. The initial supply will be 20 million $U tokens. Since the token runs on the Ethereum chain, so it should be an ERC20 token.
The purpose of the Uranmium3o8 project is, according to their website:
“Remove barriers to the traditionally opaque and inefficient uranium market. Whilst increasing accessibility to one of the world’s most critical commodities.”
By owning the $U token, you bypass owning real Uranium. This you need to transport and store, which is expensive. The company behind Uranium3o8 is Sanmiguel Capital Investment. They partnered with Madison Metals Inc. Together they want to launch the $U token.
More About the $U Token
Token holders can also have physical delivery of the Uranium. However, they must meet strict regulatory requirements. For example, they must hold at least 20,000 $U tokens. That’s 20,000 pounds (ca. 9 tons). Furthermore, they must qualify under local laws and regulations. They need to offer proof of this to Madison Metals Inc. Once Madison delivers the Uranium, they burn the $U tokens that backed the delivery.
The Uranium comes from a mine in Namibia, owned by Madison. They initially pledged 20,000,000 pounds (ca. 9,072 tons) to the project.
Currently, there are 60 nuclear reactors under construction. Most of them are in China and India. However, Russia also has plans to build more nuclear reactors. 440 nuclear reactors currently operate around the world. They spread out over 32 countries, including Taiwan. Here’s an article that includes a list of the units under construction. The UK, France, Turkey, Slovakia, and Korea are also included in this list.
Learn more about what we’re doing and how we’re advancing the future of nuclear energy here:https://t.co/iqBItE08g4
— Uranium3o8🟢 (@Uranium3o8) September 16, 2023
Energy is an important feature in today’s life. Nuclear power may see an increase in production. That’s why Uranium3o8 started their project with the $U token. They back this token with real Uranium.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
Copyright Altcoin Buzz Pte Ltd.