01StartHow dvdnd works

Real businesses.Real profit.Paid in dollars.

The whole lifecycle on one page: raise, escrow, lock-up, dividends, trading.

dvdnd lets profitable small and mid-sized businesses raise money by selling a share of their future profit, and lets ordinary investors own that share and get paid in dollars. Everything that moves money or decides who may hold a token runs in Soroban contracts on Stellar. The legal agreement, the identity check and company due diligence happen off-chain, and each leaves a hash or a proof on-chain.

01ListA profitable company proves it owns the business and signs an agreement committing a share of yearly profit.
02RaiseIt opens a fixed-price, all-or-nothing raise in USDC under Reg S, Reg D 506(c) or both.
03EscrowEligible investors commit USDC. Full raise: the company is paid. Missed minimum: everyone is refunded.
04EarnTokens sit in the dividend vault during the lock-up. Each period the company pays its share of profit in USDC.
05TradeAfter the lock-up, holders trade on Stellar's order book, but only with other eligible holders.
A raise page: profit committed, target yield, the exemption it runs under, its lock-up and the escrow contract.
A raise page: profit committed, target yield, the exemption it runs under, its lock-up and the escrow contract.

What is different from a token launchpad

  • One price for everyone. There is no bonding curve, so the first buyer has no edge over the last.
  • Money goes to a business once. The company receives the raise when it closes, and pays dividends from real profit afterwards. There is no buyback.
  • Holding is restricted by the protocol. Share tokens are issued with Stellar's authorization flags, so a wallet the offering hasn't admitted can't hold one, on any venue.
  • Patience is paid. Only tokens locked for a full period share that period's dividend.
On-chain
  • registry holds companies and agreement hashes.
  • gate verifies zero-knowledge residence proofs.
  • offering runs escrow and admits holders.
  • vault pays dividends.
  • timelock delays every admin change.
Legal
  • dvdnd is built as compliance software, not a broker.
  • It charges a flat listing fee per raise and never holds investor money.
  • Each raise runs under a securities exemption, and its rules are enforced in the contract.
Recorded on Stellar testnet
The whole lifecycle on testnet, in six scenes: a company finds itself in the register, opens a ten-minute raise, an investor proves eligibility and invests, the company closes the full raise and is paid, and profits come back as a USDC dividend.

Read by topic

StartLegal modelSoftware, not a broker. Reg S, Reg D 506(c), lock-ups and the holder cap.InvestorsProving eligibilityA hosted identity check, then a zero-knowledge proof of residence verified on Stellar.InvestorsInvesting in a raiseFixed price, all-or-nothing escrow, refunds and the accredited route.InvestorsLock-up and dividendsTokens earn in the vault; only full periods are paid.InvestorsTrading between holdersStellar's order book, restricted to wallets the offering authorized.InvestorsMoney in and outUSDC from test XLM, and bank transfers through a Stellar anchor.CompaniesListing a companyOwnership checks, a verifiable agreement and the raise terms.CompaniesCompliance controlsPer-raise freeze, clawback and an audit log anyone can read.ProtocolContracts and governanceFive contracts, a 2-of-3 council and a timelock on every admin change.