DIVIS
fair-launch crowdsale opens in--d --:--:--get ready →
post-launch · designed senior layer
DIVIS stock preferred

DSPLEND YOUR STOCK.GET PAID IN STOCK.

Put in NVDA, get pNVDA one for one. It pays you NVDA every 8 hours. Leave whenever you want.

How it works, in 3 steps
Buy pNVDA
post-launch · designed
1 · pick your stock
next up: AMZN · GOOGL · MSTR · GLD · AMD · MU +5 more
NVDA
10
pNVDA you get
one for one
0.5
NVDA a year
≈ 0.00046 every 8 h
9.8
NVDA if you leave
0.98 · any time
3 · buy

Opens on the five pilot stocks about 90 days after the fair launch, once each pool shows 90 days of fees.

how it works

Lend your stock to the protocol. Get paid in that stock.

Three steps. No jargon. The numbers are the same ones the terminal shows, just fewer of them.

post-launch · designed
0101
Put in stock, get pStock

1 NVDA in → 1 pNVDA out. Your NVDA sits in a vault no key can move. Not the team, not a multisig, nobody.

0202
Get paid in the same stock

5% a year, paid in NVDA, dripped every 8 hours from the fees the DIVIS/NVDA pool earns. Never paid in DIVIS, never in USDG.

0303
Leave anytime. Or upgrade.

Hand back pNVDA and take 0.98 NVDA from the vault, any time. If DIVIS pumps, swap your pNVDA into DIVIS at a fixed price set above today's.

where it sits

Stock coupons have defined priority.

Participating stock receipts fund due coupons before their junior residual enters Reserve backing. Arrears restrict specified new issuance and spending; they do not cancel funded C2 credits, holder claims or supported staking exits. Principal remains segregated from junior backing.

the capital stack · top pays first
SENIOR · pSTOCK
DSP
coupon in the stock, claimed from that spoke's stock inflow before it becomes junior basket · principal 1:1 in PreferredVault · put 0.98 · junior to nothing
stopper: any arrears above → everything below freezes
DIVIS holders · stakers
junior
USDG from hub and pad fees · paid from the USDG side, which DSP never touches
Emissions
junior
esDIVIS from EmissionsEscrow · frozen while any series is in arrears
Bonds
junior
USDG Dutch auctions from inventory · frozen while any series is in arrears
Ecosystem · ops
junior
capped ecosystem bucket, 10% ops split · frozen; ops share diverted to the Reserve
what DSP draws from
  • › The stock side of one spoke's hook fees (today 70% of it becomes junior basket): up to the coupon, that ticker only.
  • › A coupon reserve of the same stock, 12 months at the 8% cap, funded by the protocol at issue.
  • › 40M inventory DIVIS, reserved from the 220M bond inventory for conversions at ≥ 1.1× the USDG floor.
what it never touches
  • › USDG: the floor that prices bonds and redemptions never funds a senior claim.
  • › Any other ticker's stock, WETH, or the USDG paid to holders and stakers.
  • › Supply: DIVIS cannot be minted. No payment in kind, ever.
Two backing numbers, both published. backingPerDivis() is the USDG floor, untouched by DSP. totalBackingPerDivis() adds the stock basket and nets every senior liability. No figure on this site ignores the senior layer.
The DSP page →
The catch
  • ✕Not a bank. Not insured. Not a promise. The coupon comes from pool fees; if the fees dry up, the reserve pays, then it stops and calls you back at par.
  • ✕The stock tokens are Robinhood-issued contracts that can be paused. If one is, that series closes to new buyers until it reopens.
  • ✕Zero is a possible number for DIVIS. Your pStock is backed by your stock, not by DIVIS.
want the whole machine?
Strike maths, coupon waterfall, invariants, the sim.

Terminal mode is the same instrument with every parameter on screen and a shell you can type into.

The fair launch first →
FIRST THE FAIR LAUNCH. THEN pSTOCK.

Opens on the five pilot stocks about 90 days after the fair launch, once each pool shows 90 days of fees. Until then this page is a design, not a deployment.

Get ready for the fair launchWhat backs DIVIS