Dinari earns revenue from transaction fees on dShare issuance and redemption, platform fees charged to partner integrators that consume its tokenization API, and the yield spread on the Treasury reserves backing USD+. Its go-to-market is B2B — third-party wallets, brokerages, and fintechs integrate Dinari as an infrastructure layer rather than end users interacting with Dinari directly.

Dinari issues dShares — ERC-20 tokens backed 1:1 by the underlying equity or ETF, held with licensed custodians. Each share is purchased on traditional markets before the corresponding token is minted, so token prices track real market pricing. The catalog covers 150+ tokenized stocks and ETFs (e.g. AAPL, NVDA, TSLA, SPY). Dinari also issues USD+, a Treasury-backed yield-bearing stablecoin. Products are available on Arbitrum, Base, Blast, Ethereum, Avalanche, and Plume.

Dinari is a US-based fintech that operates as an SEC-registered transfer agent, providing infrastructure for tokenizing publicly traded US equities and ETFs as onchain assets called dShares. Rather than serving end users directly, Dinari positions itself as a B2B infrastructure layer used by partner platforms (e.g. Gemini, Cadana, Fasset) to offer tokenized US securities across 80+ countries.

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Real-world asset (RWA) issuers

Dinari

# Active users (daily) Methodology

## Overview

Active users (daily) measures the number of unique addresses that make a revenue-generating transaction with a project, i.e. An application or a blockchain. Active users (daily) are measured over a fixed 24-hour window.

## Data sources

- Raw blockchain transaction records and metadata
- On-chain event logs and program instructions
- Token price feeds for USD conversion

## Common calculation approaches

### Network-wide transaction aggregation
Unique addresses are identified from raw transaction records to quantify daily network engagement. For blockchains such as Ethereum and BNB Chain, sender addresses are extracted from transaction metadata, while on Solana, transaction signers are captured from program instructions.

### Application-specific event monitoring
User activity is tracked through interactions with specific smart contracts associated with a project's core functionality. For example, on World Mobile Chain, unique recipient addresses are identified from ERC-20 `Transfer` events emitted by the telecom service subscription contract.

### Multi-action participant identification
Active users are identified across various transaction types, including standard executions and delegated actions. On NEAR Protocol, unique user addresses are extracted from both transaction signers and participants in delegate actions to capture the full scope of daily network activity.

**Note:** The calculation approaches and protocol examples above are representative patterns. Individual protocol implementations may vary.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Unique revenue-generating users over a fixed 24-hour window.

Dinari

Active users (daily)

Active users (daily)

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