Dinari - Stonks on a Chain!
Samuel L. Jackson: "I love these mfin Stonks on this mfin chain!"
What exactly is Dinari?
- Dinari is an on-chain protocol on Arbitrum that uses Dinari Securities Backed Tokens (dShares) to provide direct exposure to the world's most trusted assets such as Google and Apple shares.
Highlights:
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Transparent, programmable, and accessible around the world, Dinari tokens enable new ways of accruing value.
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Backed 1-to-1: Each token is backed at least 100% by Dinari's reserves.
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Dividends: Dinari token holders can receive dividends and distributions.
Order and Asset Flow
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The Dinari dShares protocol operates like a bridge
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Calls to contracts inheriting from OrderProcessor emit Orders. Orders emitted from official OrderProcessor deployments are picked up by Dinari’s fulfillment service
- The fulfillment service executes a brokerage order through a clearing service when necessary
- The clearing service then settles the order and notifies the fulfillment service
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The fulfillment service in turn submits a fill to the OrderProcessor and:
- dShares are minted or burned to the order recipient
- along with any payment token transfers for order payment or distribution of proceeds
Order LifeCycle
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The lifecycle of an order starts with the User submitting an order request. This gets emitted on-chain as a
OrderRequested
event. This escrows the input token( if the order is a Buy, the input is USDC; if Sell - the input is a dShare token) -
The emitted event is then picked up by the off-chain Operator who then submits the off-chain brokerage order as part of the Clearing Service
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If the brokerage order is fulfilled:
- An on-chain
OrderFill
event is emitted which withdraws the input token from the escrow along with the associated fee payments - Coressponding dShares are minted/burned as per the orderType
- An on-chain
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Orders can also be cancelled, which results in an
OrderCancelled
event on-chain
Source: Dinari Protocol Whitepaper