Docs
Defending a seat
Shares can be pledged behind a sitting CEO instead of against one.
How it works
Any wallet can pledge shares behind the current holder of a ticker. Defenders take 20% of that seat's dividends, split pro rata by pledge, while the holder keeps the crown. One standing pledge per wallet per ticker; a second pledge replaces the first.
A defense is bound to one holder. When the crown moves, by takeover or by a won proxy fight, the defense clears and the new regime starts with no defenders.
What it does not do
Defending does not change the takeover threshold and does not add to the holder's score. It is a dividend coalition. Defenders accrue no tenure of their own.