- Migration from Polygon to Cardano Enables Atómico3 to Utilize Advanced Tokenization Technology, Backed by Lithium Reserves.
- Strategic Collaboration with ZenGate Global Bolsters Atómico3’s Position, Offering Innovative Funding Mechanisms for Asset Mining.
- Atómico3 Promises Significant Investment Value Increase Through Token Sale on Cardano, Aligning with Compliance Standards.
Cardano has announced a strategic partnership with Paraguayan startup Atómico3, which specializes in lithium mining tokenization. Atómico3 plans to transition its current contract from Polygon to the Cardano blockchain. This move aims to tokenize lithium mining assets to facilitate the transition to clean energy sources.
Previously, the Latin American Chamber of Lithium (Calbamerica) and the Paraguayan government signed an agreement to enhance transparency in lithium mining transactions. The agreement seeks to prevent underreporting by major companies during mineral extraction and to foster the development of the lithium industry and its energy applications.
“This smart contract has been designed to tokenize mining assets effectively, ensuring that the issuance of the token is backed by these assets while operating on a highly secure and transparent network that safeguards the interests of the industry. In the next two months, we will share more details about this transition, which will significantly improve investment valuation,” explained Pablo Rutigliano, founder of Atomic3.
By migrating from Polygon to Cardano, Atómico3 will utilize advanced capabilities to introduce a financing mechanism for mining assets through algorithmic token technology, backed by lithium reserves. Holders of Atómico3 tokens will maintain their stake in the new smart contract based on Cardano.
“We urge current holders to continue to hold onto the token during this process as a token exchange for the new Atomico3 token is on the horizon. The future is bright for Atomico3 at Cardano and working with industry leaders like ZenGate Global will only continue to create value for token holders. Together, let’s embrace this transformative journey towards a sustainable and highly valuable future,” delved Pablo Rutigliano.
Pablo Rutigliano, founder of Atómico3 and Calbamerica, explained that this smart contract is designed to tokenize mining assets effectively.
Imagine a Lithium industry in LATAM where transparency and sustainability are guaranteed!
Cardano can change the mining industry forever in the Lithium triangle where 50% of global reserves are held.
Together, we can shape the future for a better tomorrow. pic.twitter.com/fztQ1vLja2
— zenGate Global (@ZengateGlobal) November 27, 2024
It ensures that the issuance of tokens is backed by these assets while operating on a highly secure and transparent network. Over the next two months, further details about this transition will be shared, aiming to significantly enhance investment valuation.
Holders will also obtain fractional ownership in Atómico3’s operations. Rutigliano highlighted that this collaboration with Cardano would make their operations sustainable in the electromobility and lithium reserve sectors. Future tokens will initially be sold on the Cardano network, adhering to international compliance standards.
Continuing with reports from Paraguay on CNF, Calbamerica, also a partner of Cardano, has praised the blockchain for its commitment to sustainable development in the Latin American lithium industry. Rutigliano’s two decades of capital market experience have significantly propelled Atómico3 and its lithium-backed token.
@ZengateGlobal @Cardano_CF @IOHK_Charles @Atomico3oficial
We are thrilled to announce a pivotal step forward for the Atomico3 ecosystem. In collaboration with our technology partner, ZenGate Global, we have decided to migrate the current Atomico3 contract from the Polygon… pic.twitter.com/jIYDdS5dV6— PABLO RUTIGLIANO (@PabloRutiglian4) November 22, 2024
The announcement follows a notable rally for Cardano, which saw its value return to the $1 mark after remaining below it for over two years. Market experts had been predicting a bullish trend for ADA, anticipating it would eventually surpass the $1 threshold.
“In collaboration with our technology partner, ZenGate Global, we have decided to migrate the existing Atomico3 contract from the Polygon network to the Cardano network. ZenGate Global is at the forefront of innovation in Cardano, and this move allows us to leverage their advanced capabilities to introduce a funding mechanism for asset mining using algorithmic token technology, backed by lithium reserves,” Atomico3 noted on its website.
This strategic move by Atómico3 to utilize Cardano’s blockchain reflects a growing trend of leveraging advanced blockchain technology for environmental and sustainable development in critical industries like lithium mining.
The current price of Cardano (ADA) is $0.989, reflecting a decrease of 1.79%. Cardano has recently seen increased trading activity, with a 24-hour volume of $3.49 billion and a market cap of $34.82 billion. Key support lies at $1.10, while resistance is observed around $1.33, signaling potential volatility ahead. Despite the short-term price drop, ADA has shown significant growth over the past month, with a 99.60% increase.
