Three Ways to Own Copper

What copper products does Toto Finance offer? Toto Finance is building three copper product categories. Copper Now (COPTT) is a token backed one to one by LME Grade A copper cathodes held in an LME-approved warehouse in the United States, giving direct ownership of physical copper redeemable against warehouse receipts. Copper in Future (COPTTR) represents copper reserves in the ground that are coming into production; at a set maturity date each COPTTR converts into COPTT and becomes redeemable. Copper Yield (COPTTY) represents copper royalty streams paying a fixed rate. All three trade among eligible holders, settle in stablecoins and can be used as collateral. All three are in development.

Status: in development. Nothing on this page is an offer to sell or a solicitation to buy any token or instrument. Details describe the contemplated design and are subject to final legal, custody and market structure. Availability may be limited by jurisdiction and participant type.

Built for the US market

Toto Finance focuses on the United States: sourcing copper and other commodities for US companies, directly from mines in the United States and from US producers operating abroad in Africa (the Democratic Republic of the Congo and South Africa), Chile and Argentina. Refined cathode is delivered into LME-approved warehouses in the United States, so a US buyer takes delivery domestically while the platform records provenance from the originating mine.

Copper Now (COPTT)

Physical copper, in the warehouse, today.

Copper Now is direct ownership of refined copper. Each COPTT is backed one to one by LME Grade A copper cathodes held in an LME-approved warehouse in the United States, evidenced by warehouse receipts.

• Backing. One COPTT represents one ounce of LME Grade A copper cathode, fully allocated, held by an independent warehouse operator for the benefit of token holders and reconciled against token supply. See Transparency.
• Price. Trades by reference to the spot copper price plus or minus a premium for location and redemption optionality. Toto Finance does not set or guarantee the price.
• Redemption. Holders of at least one metric tonne equivalent (about one pallet of cathode) redeem through the redemption portal for physical delivery against the warehouse receipts, at the US warehouse or shipped onward. Redeemed tokens are burned.
• Provenance. Each lot is traceable to its originating mine and refinery.
• Use. Transferable between eligible holders on Ethereum with settlement in U.S. dollar stablecoins; usable as collateral in lending and trade finance.
• Storage fee. Holding physical copper costs money: the cathodes sit in a secure, LME-approved warehouse in the United States and are insured. COPTT holders pay a storage fee that covers secure storage and insurance, billed per ounce held on a published schedule. The fee is paid exclusively in the Toto token (TOTO), the utility token of the Toto Finance ecosystem. See the Toto token.

A commodity token, listable on exchanges

COPTT is a commodity token: one unit is one ounce of physical copper, backed one to one and owned directly by the holder. It is not an exchange-traded fund, not a synthetic or derivative instrument, not a share in a company and not exposure to an issuer's balance sheet. Because the token is the commodity, it is designed to be listed on any crypto exchange in the same way that gold tokens such as PAX Gold and Tether Gold are listed today, so that COPTT can trade wherever eligible buyers are, while every unit remains redeemable for cathode at the US warehouse.

Copper Now is the unit the other two categories resolve into.

Copper in Future (COPTTR)

Copper reserves in the ground, coming into production.

Copper in Future represents verified copper reserves that are scheduled to enter production. In technical terms, a COPTTR is a stacked COPTT: the same unit of copper, locked until a maturity date. When the maturity date arrives and the metal has been delivered into the US warehouse, each COPTTR converts one to one into COPTT and becomes redeemable.

• Backing. Verified in-ground reserves, reported under recognized codes (NI 43-101, JORC or SAMREC), with production schedules, permits and title verified before issuance.
• Maturity. Fixed dates such as six months, one, three or five years, or production-linked schedules matched to the mine plan. Terms are defined per issue and disclosed in advance.
• Price. Freely traded among eligible holders before maturity; expected to trade at a discount to spot reflecting time and production risk, replicating the economics of a forward contract on-chain.
• Conversion. At maturity, COPTTR unlocks into COPTT through Toto Clear once cathode is in custody. If production is delayed, the terms defined at issuance govern what happens.
• Purpose. Gives producers pre-production capital that does not dilute shareholders, add debt or sell output for the life of the mine, and gives industrial buyers a way to secure supply years ahead. See commodity financing.
• Use. Transferable and usable as collateral before maturity, like COPTT.

Copper Yield (COPTTY)

Copper royalty streams paying a fixed rate.

Copper Yield represents a share of copper royalty or streaming revenue from producing or near-production mines, structured to pay holders a fixed rate for a defined term.

• Backing. Royalty or streaming agreements over copper production, verified and documented per issue.
• Payment. A fixed rate for the term of the token, paid in COPTT or U.S. dollar stablecoins as defined per issue, with a return of principal at the end of the term where the structure provides for it.
• Risk. Payments depend on the mine producing and on the royalty or streaming contract performing. Rates are fixed by contract; they are not guaranteed by Toto Finance.
• Use. Transferable among eligible holders and usable as collateral.

Copper Yield is expected to be offered only to eligible investors, and its legal characterization will be set out in its documentation.

What all three share

Every product runs on the same infrastructure. Toto Rails controls who may hold and transfer each token. Toto Clear settles transfers in stablecoins and converts COPTTR into COPTT at maturity. Toto Logistics links every token to its warehouse receipt, its mine of origin and its redemption. Contracts are audited before deployment; the existing Toto token contract was audited by Hacken in January 2025. See technology.

The Toto Finance portal

Industrial clients and investors buy and sell copper through Toto Finance's proprietary portal the way a company orders anything else online: choose the product (Copper Now for metal today, Copper in Future for delivery at a future date, Copper Yield for fixed-rate income), choose the quantity, pay in U.S. dollar stablecoins, and receive the tokens in the same transaction. Settlement is instant. There is no letter of credit, no correspondent bank, no five-to-thirty-day settlement window. The portal shows the warehouse receipt, the mine of origin and the reconciliation behind every lot, and the same portal handles redemption requests, conversions of Copper in Future at maturity and Copper Yield payments. Over time the portal extends from copper to other industrial metals sourced the same way.

Smart contract architecture

The three tokens and the platform components are separate smart contracts on Ethereum that interact in defined ways.

1. Token contractsCOPTT, COPTTR and COPTTY are fungible ERC-20 compatible tokens, which is what makes them transferable between wallets, listable on exchanges and usable as collateral in standard lending and trade finance protocols. COPTT is the base unit. Each COPTTR issue is a separate contract with its own maturity terms that references COPTT one to one. Each COPTTY issue is a separate contract with its own royalty terms, rate and term.
2. Toto Rails (eligibility)A transfer-control layer consulted by every token contract on every transfer. Only wallets that have passed Toto Finance's compliance identity checks for the relevant product and jurisdiction are allowed to send or receive. Rails also enforces product rules, for example that COPTTY is held only by eligible investors.
3. Toto Clear (settlement)The settlement engine. A purchase on the portal is an atomic swap: stablecoins move from the buyer and tokens move to the buyer in one transaction that either completes entirely or not at all, so neither side delivers without receiving. Clear also executes the conversion of COPTTR into COPTT at maturity, again atomically, and distributes COPTTY payments to holders on schedule.
4. Toto Logistics (physical link)The bridge between the warehouse and the chain. COPTT is minted only when a warehouse receipt for LME Grade A cathode is confirmed in the US warehouse, and burned when a redemption is completed. Logistics carries the receipt reference, mine of origin and status into the token record and publishes the reconciliation of token supply against inventory.
5. Redemption moduleA holder of at least one tonne equivalent of COPTT submits a request in the portal. The tokens are locked, identity and delivery checks are completed, the warehouse releases the cathode against the receipt, and the tokens are burned in the same operation that confirms release.
6. Maturity and conversionWhen a COPTTR issue reaches maturity and the producer's cathode has been received into the US warehouse (minting the corresponding COPTT), the COPTTR contract unlocks and holders swap COPTTR for COPTT one to one through Toto Clear. If metal is late, the terms coded into the issue govern the outcome.
7. Audits and upgradesEvery contract is audited by an independent security firm before deployment; the existing Toto token contract was audited by Hacken in January 2025. Administrative functions (minting against receipts, pausing in an emergency, updating the eligibility registry) are controlled by multi-signature keys with published policies.

The Toto token (TOTO)

The utility token that pays for the ecosystem.

TOTO is the utility token of the Toto Finance ecosystem, live on Ethereum; its contract was audited by Hacken, with the audit completed on January 27, 2025. It is not a commodity token and does not represent copper. Its job is to pay for services inside the ecosystem.

• Storage and insurance for Copper Now. Every fee connected with owning COPTT is paid exclusively in TOTO. The storage fee that keeps the cathodes insured and secured in the US LME-approved warehouse is the first and most concrete of these: a recurring cost of holding physical metal, settled in the ecosystem's own token. Rates per ounce and billing periods are published in the product documentation.
• Other ecosystem fees. Redemption handling, conversion of Copper in Future into Copper Now at maturity, portal services and further utilities within the ecosystem are designed to be paid in TOTO as they launch. Storage is one of many utility functions.
• How it works. Holders keep TOTO alongside their copper tokens. Fees are collected through the portal and the smart contracts on the published schedule; the portal shows the running balance, the fee history and the amount due.

TOTO is a utility token for paying fees within the Toto Finance ecosystem. It is not an investment product and confers no ownership of copper, Toto Finance Inc. or its revenue. Token documentation, supply information and the audit report are provided in the Transparency section as the copper products launch.

Compliance at sale and redemption

Toto Finance's compliance identity system applies at both ends of every position. Before a client can buy on the portal, and before a holder can redeem or receive a payment, identity is verified (know-your-customer and know-your-business), sanctions and politically exposed person screening is completed, and eligibility for the specific product and jurisdiction is confirmed. The result is written to the Toto Rails registry, which is why a COPTT, COPTTR or COPTTY can only ever sit in a wallet whose owner is known. Tokens listed on external exchanges trade within that exchange's own compliance perimeter and return to the Rails registry when withdrawn. Toto Finance does not hold financial services licenses in its own name and works with licensed partners where a licensed activity is required.

Who they are for

• US industrial buyers (cable and wire makers, utilities, automakers, data center developers) secure copper for delivery now with Copper Now, or years ahead with Copper in Future.
• Producers with verified reserves raise pre-production capital with Copper in Future and monetize royalty streams with Copper Yield. See solutions for producers.
• Institutions, traders and treasuries hold physically linked copper exposure, forward claims or fixed-rate copper income, with transparent backing and fast settlement. See solutions for institutions.

Risks

All three categories carry copper price risk, custody and counterparty risk, smart contract and blockchain risk, liquidity risk and legal and regulatory risk. Copper in Future additionally depends on the mine producing on schedule; Copper Yield additionally depends on the royalty or streaming contract performing. Nothing is guaranteed. See risk disclosures.