Fidelity Digital Interest Token

This is a tokenized share in the Fidelity Treasury Digital Fund (OnChain Class, ticker FYOXX) - a registered U.S. money market fund managed by Fidelity. The instrument belongs to the RWA (real-world assets on blockchain) category: each FDIT represents a share in the fund's off-chain assets (at least 99.5% - cash and short-term U.S. Treasury securities with maturities up to 93 days). Ownership records are duplicated on the public Ethereum network and reconciled daily with the official register held by the transfer agent. The fund aims to provide current income while preserving capital and liquidity, with a target net asset value (NAV) of $1.00 per token. The OnChain Class has a management fee of 0.25% per annum, with a contractual waiver to 0.20% at least until August 31, 2027; the minimum initial investment is $1,000,000, and access is limited to institutional investors after passing KYC/AML. The fund's base prospectus is dated June 29, 2026.

FDIT is a permissioned security token, not a freely circulating stablecoin. Transactions are allowed only between verified addresses on a whitelist; issuance and redemption occur exclusively through subscription/redemption of fund shares at NAV. The project launched in September 2025 after the OnChain Class was registered with the U.S. Securities and Exchange Commission (SEC) in March 2025 (CIK 0000917286). The fund operates under Rule 2a-7 of the Investment Company Act of 1940.

What Makes It Unique

Unlike BlackRock BUIDL (launched March 2024, transfer agent Securitize) and Franklin Templeton BENJI (multichain, minimum investment from $5,000 on some networks), FDIT uses Fidelity's own accounting infrastructure and focuses on Ethereum with a $1 million minimum investment, targeting large institutions. The smart contract (0x48aB4e39AC59F4E88974804B04A991b3a402717f) implements built-in regulatory compliance logic: whitelists, address freezing, transfer restrictions - all checks are reflected in the ABI as custom errors. Unlike many stablecoins, FDIT does not rebase or use oracles for pricing: the price is always $1.00 at NAV.

Features of Fidelity Digital Interest Token

Technical Information

Network - Ethereum mainnet (Proof-of-Stake, Gasper consensus: Casper FFG + LMD-GHOST). Block time - 12 seconds, epoch - 32 slots (~6.4 minutes), economic finality achieved after two confirmed epochs (~12.8 minutes). The token is implemented as an ERC-20 with a proxy architecture (Solidity compiler v0.8.22). The contract on Etherscan is labeled as "ERC20RevocableComplianceToken" - the administrator can freeze transfers, modify whitelists, and revoke tokens in accordance with regulatory requirements. As of July 2026, no public smart contract audit has been uploaded to Etherscan.

Tokenomics

There is no hard maximum supply: the amount of FDIT expands or contracts as fund shares are subscribed or redeemed. According to Etherscan data as of {{today}}, the total on-chain supply is approximately 78,072,684.19 FDIT (18 decimal places). Issuance and burning are performed by the transfer agent (Fidelity Investments Institutional Operations Company) and mirrored in on-chain records. Yield is generated from interest on Treasury securities and repurchase agreements; distributions are taxed as ordinary income or capital gains. The manager (Fidelity Management & Research Company LLC) temporarily bears Ethereum transaction fees for the OnChain Class, but these may be passed on to investors in the future.

FDIT Security

No public audit reports for the FDIT smart contract have been found - the Etherscan page states "No Contract Security Audit Submitted" (status as of {{today}}). The fund does not invest in crypto assets, holding only cash and Treasury securities, which reduces the risk of losses from blockchain vulnerabilities. The official shareholder register is maintained off-chain by the transfer agent; the blockchain record is secondary and reconciled daily. No documented incidents (exploits, halts, loss of funds) have been recorded since launch. Transfers are restricted by whitelists, preventing unauthorized movements. Recovery procedures for lost keys are not disclosed, but based on security token logic, recovery is available through the transfer agent.

Which Exchanges Trade It

FDIT is not traded on public centralized (Binance, Coinbase, Kraken) or decentralized (Uniswap, Curve) exchanges. All transfers occur directly between whitelisted addresses under the issuer's control. The all-time high is $1.00 (reached on September 17, 2025), and the all-time low is $1.00 (same date).

Aggregator Listings

Project ranking by market capitalization:

• CoinGecko rank: 351
• Finkonkurs rank: 225

Investors and Funds

No primary offering was conducted (no ICO/IDO/IEO/airdrop). The sole anchor investor and largest holder of FDIT is the real-world asset tokenization platform Ondo Finance, which invested approximately $202 million at launch in September 2025 to back its own tokenized fund OUSG. At launch, Ondo controlled over 99% of the circulating supply; by mid-2026, Ondo's share of FYOXX was about 30.3% of the fund's total volume (~$407 million TVL). No other venture investors, rounds, or SAFTs are mentioned in public sources.

Key Partnerships and Ecosystem

The main partnership is with Ondo Finance, which served as a strategic partner at launch and integrated FDIT into its OUSG product. Custody of the underlying securities is handled by Bank of New York Mellon (BNY Mellon). The transfer agent is Fidelity Investments Institutional Operations Company, responsible for maintaining the official register and daily reconciliation. The fund also follows reserve standards for stablecoin issuers as outlined in the GENIUS Act, positioning FDIT as a tool compliant with potential stablecoin reserve requirements. No other integrations with dApps or ecosystem projects are documented.

Potential

FDIT sits at the intersection of the tokenized Treasury asset (RWA) market and institutional stablecoin infrastructure. The RWA market is estimated by analysts to grow into trillions of dollars in the coming years, and FDIT, as a product of the largest asset manager (Fidelity with over $5 trillion in assets under management), benefits from brand recognition and trust. The low fee (0.20% with the waiver) and compliance with Rule 2a-7 make it attractive for corporate treasuries, stablecoin issuers, and DAOs seeking secure on-chain yield. The connection with Ondo Finance, a major player in the RWA segment, provides initial liquidity and DeFi ecosystem integration. Potential expansion to other networks (as Franklin Templeton has done) could increase reach. However, FDIT is currently concentrated on Ethereum and has minimal visible on-chain activity.

Risks [Identified by Finkonkurs AI Analytics System]

Regulatory Risks: As a security token, FDIT falls under SEC jurisdiction; any changes to Rule 2a-7 or stricter requirements for tokenized funds could impact the product. The fund is registered in the U.S. but is not intended for retail investors outside the U.S.; distribution in the EU (MiCA), UK (FCA), Japan (JFSA), Singapore (MAS), Hong Kong (SFC), and South Korea (FSC) is possible only through private placements. Technical Risks: The lack of a public smart contract audit increases the likelihood of undetected vulnerabilities, though the permissioned architecture and issuer control mitigate the threat. Competitive Pressure: BlackRock BUIDL and Franklin BENJI have already captured significant market share, with broader distribution and multichain support. Holder Concentration: Nearly all FDIT supply is held by a single investor (Ondo Finance), creating risks of manipulation and liquidity issues if the large holder exits. Operational Risks: Dependence on daily manual reconciliation with the transfer agent; potential delays in redemption during non-business days of the stock market.

Related Individuals

• Cynthia Lo Bessette (Head of Fidelity Digital Asset Management) - publicly discussed Fidelity's tokenization strategy, including the distribution of tokenized products and integration of traditional and on-chain systems. Under her leadership, FDIT was developed and launched.
• Stephanie Merritt - co-manager of the Fidelity Treasury Digital Fund OnChain Class (FYOXX) since March 4, 2025, also manages other Fidelity money market funds.
• Nicole Macarchuk - Secretary and Chief Legal Officer of the fund, listed in the prospectus.
• Issuing legal entity: Fidelity Distributors Company LLC (distributor), management company - Fidelity Management & Research Company LLC (FMR). Custodian - Bank of New York Mellon. Transfer agent - Fidelity Investments Institutional Operations Company.

Contests, Activities, and Hackathons on Our Platform

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WhitePaper

There is no traditional whitepaper; the fund's prospectus (Summary Prospectus) dated June 29, 2026, serves this function, describing investment objectives, fee structure, blockchain use, risks, and purchase/redemption procedures. Link: not publicly available.