Starbucks carries roughly $1.8B in unredeemed gift card liabilities. Unlike bank deposits, these aren't insured. When they expire, they become company profit. Users have no way to verify this balance is safe.
TonPass fundamentally changes this structure.
Principal is 1:1 backed in the Master Wallet
When a user buys a card, the USDT is deposited into a published Master Wallet address. Anyone can check the balance on any block explorer at any time.
TonPass does not trade, lend, or re-hypothecate the principal. Until redemption, 100% of it is earmarked to that specific pass.
Fee-only business model
TonPass has two revenue streams only: issuance fee and redemption fee. Principal is never touched.
- Online issuance fee 3% β charged at purchase
- Offline issuance fee 7% β includes physical card production and shipping
- Redemption fee β none (TonPass covers TRC-20 gas)
Legal structure and quarterly audits
TonPass GC Ltd. (BVI) issues the cards; TonPass Pte. Ltd. (Singapore) operates the technology. Quarterly proof-of-reserves reports are published.
βTransparency isn't a feature. It's a precondition. If users can't verify the balance, it isn't a wallet.β
