The missing corporate-actions layer for tokenized stocks. On-chain dividends, stock splits, and record-date semantics — for the tokens that already exist.
Parvalon is the missing corporate-actions layer for tokenized stocks — on-chain dividends, splits, and record-date semantics for the tokens that already exist. It is a permissionless overlay: it works on tokenized stocks we do not control, with no token changes and no issuer integration.
The problem. Tokenization solved issuance and trading for ~2,000 tokenized stocks, but not what happens after a share is minted — dividends, splits, record dates. A holder of a tokenized share has no on-chain rail to receive a dividend; DeFi has no trustworthy signal when a stock splits or goes ex-dividend (a systemic risk once RWAs are used as collateral); and AI agents have no machine-readable feed to react to.
How it works.
Announce a corporate action on-chain with correct record-date semantics.
Snapshot every holder's balance at the record block from public Transfer logs, build a Merkle tree, and publish the root — anyone can independently reproduce it.
Fund & claim pro-rata dividends in USDG against that root: O(1) gas per claim, claim-on-behalf (relayable / gasless), funds always settle to the holder.
Consume a standardized event stream (our draft CAE-1 EIP) plus a REST feed, so lending markets, AMMs and agents can finally react.
Why it's different. Paying dividends on-chain normally requires owning the token (transfer hooks, rebasing, issuer integration). Parvalon inverts that: it reconstructs holders of any standard ERC-20 via eth_getLogs, so it runs on the real Robinhood TSLA / AMZN / PLTR / NFLX / AMD tokens today with nothing required from the issuer. Two immutable, non-upgradeable contracts — a registry that governs state and a distributor that custodies and settles value; record dates are enforced on the true L2 block via the Arbitrum ArbSys precompile.
Proven live on Robinhood Chain testnet: all five real tokenized stocks have a funded, CLAIMABLE dividend on-chain — ~917,000 holders snapshotted, ≈13.6M USDG funded, with real claims settled on-chain. Engineering: 84 Foundry tests (fuzz + invariants), Slither 0 high / 0 medium, a parallel snapshot scanner over ~3M Transfer logs, and a server-side proofs API that serves per-holder proofs at 184k-holder scale.
Built for the buildathon as a Solidity + Next.js/TypeScript monorepo. What we shipped:
Protocol (2 immutable contracts). CorporateActionRegistry + DividendDistributor: the announce → publish-root → fund → claim lifecycle, Merkle verification + a claim bitmap, per-action solvency isolation, and claim-on-behalf. 84 Foundry tests (unit + fuzz + invariants), Slither 0 high / 0 medium.
Arbitrum/Orbit record-date fix. Record dates are enforced on the L2 block via the ArbSys precompile (raw block.number on Orbit is the L1 height), so the on-chain guard and the off-chain snapshot share one clock.
Live on Robinhood Chain (46630). Deployed the registry, distributor and oracle source, then gave all 5 real stocks a funded, CLAIMABLE dividend — ~917,000 holders snapshotted, ≈13.6M USDG funded — with real on-chain claims settled.
Snapshot at scale. A parallel eth_getLogs scanner that reconstructs ~184k holders per token from ~3M Transfer logs in ~10 minutes, producing deterministic, independently re-derivable Merkle roots.
Proofs API. A server-side per-holder proof lookup (sharded store) so a 264 MB / 184k-holder proof set never ships to the browser — claiming works at full scale.
dApp (Next.js). /claim (a table showing each holder's snapshot balance → claimable dividend, claim-on-behalf, explorer-linked receipts), plus /issuer console, /feed, /faucet, and in-app /docs.
Ecosystem tooling. A typed TypeScript SDK, a deterministic snapshot CLI, a solvency monitor, a draft CAE-1 EIP (Corporate Action Events standard) + a /api/actions feed, and a runnable example agent that claims-on-behalf from CAE-1 events.
Docs. Architecture, threat model, a frozen integration contract, an honest limitations doc, and a P0/P1/P2 production-readiness roadmap.
Pre-seed / bootstrapped — no external funding raised to date. Parvalon was built independently for the Arbitrum Open House London Buildathon. We have taken no investment and have no token.
Seeking: the Arbitrum Foundation milestone grant and Robinhood Chain ecosystem support to fund the production path — an external security audit, governance hardening (Timelock + multisig handover, already coded), a payout-token allowlist, and a pilot with a tokenization platform / issuer.