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updatedAt: 2025-09-22T21:40:20.000Z
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Fetch the complete documentation index at: https://docs.dinari.com/llms.txt. Use this file to discover all available pages before exploring further. Append .md to any documentation page URL to get its markdown version.

# What are dShares™?

A dShare™ is a token 1:1 backed by a [security](https://www.investopedia.com/terms/s/security.asp), commonly a U.S. equity.

# How is it backed?

To ensure a true 1:1 backing, a mint (aka issuance) or a burn (aka redemption) only occurs when a corresponding order is complete on a brokerage account:

```mermaid
sequenceDiagram
	actor A as Customer
	participant B as Blockchain
	participant C as Dinari
	participant D as Alpaca
	Note over A,D: Issuance
	A ->> B: Escrow funds and submit order
	B ->> C: Forward order
	C ->> D: Submit order
	D ->> D: Fill order
	D ->> C: Notify completion
	C ->> B: Fill order
	B ->> A: Mint dShares
	Note over A,D: Redemption
	A ->> B: Escrow dShares and submit order
	B ->> C: Forward order
	C ->> D: Submit order
	D ->> D: Fill order
	D ->> C: Notify completion
	C ->> B: Fill order
	B ->> B: Burn dShares
	B ->> A: Transfer funds
```