Read this before you buy.

A Tally receipt is a token that can be burned for one hour of compute on the reference A100 80GB (or the benchmark equivalent on another card), delivered by an approved provider. Unredeemed receipts settle in USDG at quarter end at the series reference price, from the providers' collateral.

It is not a deposit or an investment, and not a bank product. Nothing pays you for holding it. Nobody, including Tally, promises what a receipt will be worth later.

The contracts are open source and verified. They have not been externally audited. They have no upgrade path, so a bug cannot be patched in place. A bug can lock or lose funds, including collateral and settlement pools.

Providers are GPU operators approved by Tally. They can fail to start a job, stop it early, go offline or run out of collateral. The contracts limit the damage: receipts are backed by 130% at mint, a provider below 115% must top up or be liquidated, and a start missed by more than 30 minutes pays the holder the receipt's value plus 15% without anyone's approval.

Collateral is per provider. If one provider's collateral runs out, other providers do not cover the gap, and the quarter-end settlement per receipt is reduced equally for every holder of that series.

Disputes are resolved by the Tally team multisig in v1. If a provider says a job started but it did not, or stopped it early, the holder can open a dispute until 2 hours after the job was due to end. The outcome depends on the arbiter's judgement of the evidence. If the arbiter does not decide within 7 days, the holder receives the full reserve.

The market price of a receipt can go down as well as up, for example when GPU prices fall. Your hour stays an hour, and the collateral stays in USDG, but the price you could sell a receipt for may be lower than what you paid.

Providers can buy their own receipts to move the reference price. Limiters (±20% listing band, a risk price that moves at most 5% a day, a 40% cap per provider) reduce this but do not remove it.

Payments, collateral and settlement are in USDG on Robinhood Chain. The USDG issuer can freeze addresses and pause transfers, which can delay or block payouts. Network outages or congestion can delay transactions, including time-sensitive ones such as starting a job or claiming a missed-start payout.

You hold your own keys. Tally cannot recover lost keys or reverse transactions. Check the network, the amounts and the fees on every confirmation screen before you sign. See the docs for every formula and the terms for the rules of use.