Damate has released digital financial assets (DFA)
Damate Group, the largest turkey producer in Russia, has launched the debut issue of digital financial assets (DFA). The total amount of the DFA issue is 500 million rubles. The cost of one unit is 1000 rubles. The collection of applications for the DFA issue was completed ahead of schedule. The partner of the issue was Alfa-Bank operator, on whose electronic platform the corresponding investment proposal was posted.
The DFA's circulation period, in accordance with the terms of the investment offer, is 9 months, the rate is 17.75% per annum, interest is paid monthly.
«For Damate, this is a new financial instrument that allows shortening the time for obtaining financing, diversify sources of financing, and enter the public borrowing market. I am sure that consumers of our products will appreciate the opportunity to invest together with their favorite manufacturer,» said Stanislav Varich, First Deputy General Director for Economics and Finance at Damate.
Digital financial assets (DFAs) are digital rights to an asset that are issued, accounted for and traded as a record token in an information system based on blockchain technology. They assume that their holders have digital rights. It can be said that DFAs are digital analogues of existing financial instruments: stocks, bonds, promissory notes, loans and other assets. These analogues are digital rights or certificates (tokens) with a certain value, working on the basis of a blockchain or other decentralized network and stored in an information system.
The level of accrued interest on the Central Federal District exceeds the average interest on bank deposits in Russian banks, so this tool is a very attractive way for short-term investment.
Any individual or legal entity – a client registered on the A-token platform of the Alfa-Bank operator can purchase an asset for any desired amount. To invest in DFA, it is enough to perform four actions: register on the website or in the application from the operator of the information system, download the mobile application of the operator of the information system or use its web version. Next, select the asset you like in the application. Sign the transaction with your private key. Transactions take place in a mobile or web application in a few clicks. This allows you to automate the execution of transactions thanks to smart contracts, as well as eliminate intermediaries when interacting with such assets. A smart contract can be considered a digital contract.
It should be recalled that the development of the DFA is supported and regulated by the Russian Central Bank, which provides full legal protection of investors' rights. The DFA received the legislative framework in Russia in July 2020 against the background of the rapid development of digitalization and cryptocurrencies in the world. Then Law No. 259-FZ “On Digital Financial Assets, Digital Currency and Amendments to Certain Legislative Acts of the Russian Federation” was adopted. It regulates the issuance and circulation of digital assets in Russian information systems, the operation of which is the responsibility of operators. They can only be Russian legal entities included by the Central Bank in a special register. The Central Bank oversees the activities of all information system operators. The first operator was registered in February 2022.
