A dShare is Dinari's tokenized stock. Dinari states each one is backed one to one by a real share held at a US broker-dealer. As of this writing we track 20 dShares, all on Base.
Dinari sits apart from the other three issuers on this site in three ways, which makes it the most useful one to understand if you want to see how much room there is inside the phrase "tokenized stock".
First difference: the dividend arrives
Dinari states that cash dividends are paid to your wallet as a stablecoin.
Robinhood, Ondo Global Markets and Backed all use a multiplier mechanic: a number rises, nothing is paid, and no token moves. Dinari does the thing most people assume a dividend means. Money shows up.
In our piece on whether tokenized stocks pay dividends, this is the one entry where the answer is a payment. For splits, Dinari rebases.
Second difference: it is a US company
Dinari, Inc. is incorporated in the United States. Robinhood's issuing entity is in Jersey, Backed's is in Jersey, and Ondo's is in the British Virgin Islands.
Third difference: two rails, and two different rules
Dinari states: dShares™ have not been registered under the US Securities Act, and may not be offered or sold in the United States or to a U.S. person, absent registration or an applicable exemption from registration.
That is the rule for the on-chain dShares this site tracks, and it carries its own caveat on its face - "absent registration or an applicable exemption". An earlier version of this entry quoted a different rule, about accredited-investor verification under Rule 506(c); Dinari's documentation no longer says that, and the quote above replaced it on 14 Aug 2026.
Separately, Dinari's documentation describes brokerage services in the US through Dinari Securities LLC, which it states is an SEC registered broker-dealer (member SIPC), with tokens issued there described as non-transferable and restricted from use in DeFi protocols. That is a different rail from the on-chain dShares this site tracks. Read Dinari's own documentation for how the two relate; do not take our summary as the rule.
A data quirk worth knowing
dShares are mint and redeem instruments rather than tokens with a continuous secondary market on the venues we read. That has a visible consequence here: we can report holder counts for them from chain state, and we often have no price to report, because there is no pool being quoted.
When that happens we print no price. Not a zero, not a dash, not last week's number carried forward. A missing figure is omitted, because a fabricated one is worse than an absent one. If a dShare page looks like it is missing a column that Robinhood's tokens have, that is the reason, and it is on purpose.
Base, and only Base
All 20 listings are on Base, and Dinari is the only issuer we track using that chain, so /chains/base is effectively the Dinari page from the chain's side.
Where to look
The issuer page is at /issuers/dinari, with every contract address and the full eligibility statement. The glossary defines dShare, custodian and distribution. Dinari's own documentation is linked at the top, and it is the authority on all of this rather than us.
Every claim about Dinari above is Dinari's own published description.