Nornickel to launch pilot rewarding employees with DFAs

Employees of Nornickel will begin receiving rewards in the form of tokens tied in value to the company’s shares. Interfax reports.

Nornickel will provide the funds for the emission of the DFA named minetoken. The mechanism will be implemented through the Atomyze blockchain platform.

Participation in the pilot program “Digital Investor” will be open to employees who have worked for the company for at least one year as of January 1, 2023. The amount of payments will depend on their tenure. No additional share issuances or buybacks are envisaged.

“The token will form part of the social package, which expresses recognition of the employee’s merits and his contribution to the success of the business over the years at Nornickel,” the company representatives noted.

Due to the small scale of the program, Nornickel does not expect any impact on the stock market.

After a year of holding minetoken, holders will be able to sell it on the Atomyze platform or acquire additional digital assets from their own funds.

In the future, the instrument could be scaled to the retail investor market.

As reported in February 2022, the issuer of Nornickel’s tokens — the tokenization platform Atomyze — received a license from the Bank of Russia to issue DFAs.

In addition to it, the registry of operators of the information system includes LightHouse, Sberbank, Alfa-Bank and Masterchain.

To date, the aggregate volume of DFA issuance in Russia has reached 2 billion rubles, according to Atomyze.