FAQs

Overview

What is Dinari?

Dinari is an infrastructure that allows users to trade traditional securities, like stocks and ETFs, on the blockchain. It uses smart contracts to represent these securities as tokens, called dShares, and automates the process of buying and selling them.

What are dShares?

dShares are tokenized representations of traditional equities that are backed 1:1 by the underlying securities. When you hold a dShare, you hold the same economic rights you would get by holding the underlying stock through a traditional broker, such as dividends and stock splits.

Do I own the actual shares?

No, the underlying stocks are held in custody by Dinari. When you purchase a dShare, you receive a separate security that is backed by the corresponding shares, but you are not a direct shareholder in the company.

Are dShares physically backed?

Yes, every dShare in circulation is backed 1:1 by a real share held in a custodial brokerage account. The underlying assets are held with a third-party custodial broker, and reserve audits are performed by an independent Big 4 accounting firm to confirm 1:1 backing

Getting Started: KYC & Wallets

How can I purchase dShares?

To purchase dShares, you need an EVM-compatible wallet, enough supported stablecoin for your purchase, and to complete the Know Your Customer (KYC) verification process.

What do I need for the KYC verification process?

You will need a government-issued identity document (like a driver's license or passport) and proof of residency (such as a current utility bill or bank statement).

Can I purchase dShares without performing a KYC check?

No, completing a KYC check is a requirement by the SEC.

Which countries does Dinari support?

dShares are offered in over 85 jurisdictions outside the United States under Regulation S. A list of unsupported countries is available in Dinari's documentation.

Can I connect an existing smart contract wallet?

Yes, Dinari supports self-custody smart contract wallets for proxied (EIP-155) orders. You must connect the wallet using its contract address and the appropriate chain ID (e.g., eip155:8453 for Base), and sign messages using ERC-1271.

Trading & Orders

What order types are supported?

Dinari supports two order types: MARKET and LIMIT. Stop, stop-limit, and trailing order types are not supported.

Can I trade outside of U.S. market hours?

Yes, Dinari operates across four distinct trading sessions, including extended, overnight, and weekend sessions. During extended, overnight, and weekend sessions, only limit orders are accepted directly; market orders are automatically converted to marketable limit orders.

How does settlement work?

Settlement occurs on-chain in a single step once an order is filled. A buy mints dShares to your wallet, and a sell burns dShares and releases the proceeds. Partially settled orders are not possible.

Does Dinari support short selling?

No, native short selling of dShares is not supported. The only way to get short exposure is through tokenized inverse ETFs that Dinari supports.

What is the maximum order size?

There is no single fixed maximum order size. Order sizes are governed by precision limits (e.g., 2 decimals for market buy notional) and partner-configurable caps. Orders above $5,000 USD may take 1–2 days to execute.

Dividends & Corporate Actions

How are dividends paid?

Cash dividends are the supported, fully automated dividend type. They are paid in stablecoins (like USD+) directly to your wallet on the same schedule as the underlying stock.

What corporate actions are supported?

Dinari processes dividends, stock splits (forward and reverse), ticker changes, and mergers. These are automatically reflected on the dShare token and your ledger.

Do I need to do anything for a stock split?

No, a stock split mirrors automatically on your dShare balance. For example, a 10-for-1 split means your 5 shares become 50, with the total value remaining unchanged.

Are there any fees on dividends?

Yes, dividend distributions are paid net of a 5% standard dividend fee.

Fees & Costs

How much does it cost to use Dinari?

Fees vary by network. Issuance orders bear a fee of $1 plus 0.25% to 0.50% on Ethereum, or $0.20 plus 0.25% to 0.50% on Layer 2 networks, plus network fees. A 5% fee applies to dividend distributions.

Can transaction fees be paid in stablecoins?

Yes, Dinari allows transaction fees to be paid in stablecoins rather than ETH, improving the user experience.

Supported Assets & Networks

Which stocks are supported?

Dinari supports over 724 tokenized U.S. stocks and ETFs, including all S&P 500 companies. A full list is available on the Dinari platform.

Which blockchains are supported?

Dinari currently supports Ethereum, Base, Arbitrum, Avalanche C-Chain, and Plume. Expansion to Sei and Solana is planned.

Can dShares be bridged between chains?

Yes, dShares can be bridged between supported blockchain networks using LayerZero V2 and the Omnichain Fungible Token (OFT) standard.

Technical Integration (For Developers)

What is the order lifecycle?

Every order moves through four stages: Validation, Preparation, Execution, and Settlement. A buy converts payment tokens into dShares, and a sell converts dShares back into payment tokens.

How do I place an order via the API?

Orders can be placed via three methods: Managed Orders (for Dinari-managed wallets), Proxied Orders (EIP-155, for self-custodied wallets), and direct smart-contract calls.

What is the difference between /permit and /permit_transaction?

The /permit endpoint generates an EIP-2612 permit for EOA wallets. The /permit_transaction endpoint prepares a transaction for smart contract wallets using ERC-1271 and Permit2.

What should I do if an order fails with a 423 error?

A 423 error ("Account is currently in use") means a concurrent request is already being processed for that account. You should serialize your requests per account and implement a request queue.

How should I handle a 404 "Account not found" error?

This typically means you are using an account ID from a different environment (sandbox vs. production). Verify your client's environment setting matches where the account was created.

Can I reuse a client_order_id after a failed order?

No, a 409 conflict indicates the client_order_id is already associated with an existing order. You must generate a new, unique ID for each retry attempt.