The TAPLY Token Litepaper.

Executive summary

TAPLY is a closed-loop digital-voucher payment infrastructure for local commerce, engineered around the PSD2 Article 3(k) Limited Network Exclusion. The platform brings merchant transaction cost below 1% — versus 1.5–3% on card schemes — across three distinct tiers: single-merchant gift cards (Tier 1 · Spot), shopping-centre cards (Tier 2 · Plaza), and territorial/association vouchers (Tier 3 · Local).

• Closed-loop architecture: digital vouchers redeemable inside a licensed network of merchants. No card scheme. No PSP markup. No chargeback layer.
• PSD2 Art. 3(k) LNE: the network operates outside the payment-services perimeter, avoiding €5M+ EMI licensing costs and 12-24 month authorisation timelines.
• Deflationary utility token: 1% on-chain burn on every utility event. Hard-coded. Irreversible.
• Stripe Connect as the regulated money-movement layer — TAPLY itself never holds user funds.

Three broken markets · One €1.2T drag

The European local-commerce payment market is structurally inefficient. Three distinct categories — gift cards, shopping-centre cards, and territorial vouchers — each carry costs and frictions that scale poorly. Together they represent a €1.2 trillion annual transaction volume bleeding 1.5–3% to intermediaries.

• Tier 1 · Spot: single-merchant gift cards. Fragmented, paper-based, no interoperability.
• Tier 2 · Plaza: shopping-centre cards. Centre-locked, expensive POS hardware, weak digital UX.
• Tier 3 · Local: territorial/association vouchers. Issued by chambers and municipalities to drive local spend. Manual, paper-heavy, no analytics.
• Single closed-loop rail unifying all three — same merchant, same app, same NFC tap.

The TAPLY architecture

TAPLY is a three-tier closed-loop digital-voucher platform with native iOS / Android apps and an Android POS SDK. The platform is licence-free under PSD2 Art. 3(k) LNE and uses Stripe Connect as the regulated money-movement layer — TAPLY itself never holds funds.

• Mobile app (iOS + Android) — top up, vouchers, NFC tap, cashback ledger.
• POS SDK — embeddable in any Android terminal; accept tap-to-pay in under 800ms.
• Issuer console — merchant dashboard, branding, KYC/KYB workflow, payout requests.
• Settlement layer — Stripe Connect to merchant bank, T+1, SEPA / SWIFT / ACH.

What the token does

The TAPLY Token is a pure utility token outside MiCA scope. Its value derives from four hard-coded smart-contract functions inside the platform. It is not a security, not a payment instrument, and confers no rights against the issuer beyond the Token Terms.

• Merchant activation gate · stake to onboard.
• 1% burn per use · supply contracts as GMV grows.
• Referral pool · 0.15% direct + 0.10% indirect, paid in TAPLY.
• User cashback · 0.25% baseline. Boostable by merchants.

How the burn works

The TAPLY Token economic model is a discrete, deterministic system. Every input has a measurable on-chain output. The model is built on three primitives: stake (locked supply), velocity (utility events per period), and burn (irreversible supply removal).

Three scenarios · One direction

Illustrative scenarios model circulating supply contraction over 60 months under three GMV assumptions. These are mechanical projections of the burn formula applied to forecast platform volume — not price forecasts, not return promises.

Allocation · Vesting · Schedule

Total supply is fixed at 1,000,000,000 TAPLY, fully pre-minted at TGE. No mint authority remains. The allocation is split across seven pools, each with a documented vesting schedule enforced on-chain.

Governance · Multi-sig · Transparent

Governance is intentionally conservative. The Token confers no on-chain voting right against the issuer in the current phase. Treasury and protocol parameters are controlled by a 5-of-7 multi-signature wallet, with public addresses and a published treasury policy.

Europe-first · Going global

The roadmap is sequenced to prove the closed-loop architecture in the densest, most regulated payment market in the world — Europe — and then replicate the local-loop pattern jurisdiction by jurisdiction. Same token. Same rail. Local compliance.

Legal architecture · License-free · Audit-ready

The platform's legal architecture is the single most important moat in the product. It is the result of a 47-page legal feasibility analysis and a 20-constraint technical blueprint engineered around the PSD2 Article 3(k) Limited Network Exclusion (LNE).

Material risks · Read carefully

Material risks associated with the TAPLY Token include capital loss, regulatory reclassification, smart-contract vulnerability, blockchain network failure, custody risk, issuer-specific risk, adoption risk, and tax uncertainty.