Yellow Paper: Project Technical Architecture GIFTY – NFT Gift Card with Token Bound Account (TBA)

This paper details the technical architecture of the Minimum Viable Product (MVP) of the GIFTY (Lift Lab) project, an innovative initiative that aims to revolutionize the Brazilian gift card market through Web3 technology. GIFTY proposes the issuance of gift cards as Non-Fungible Tokens (NFTs) with TokenBound Accounts (TBAs), addressing chronic inefficiencies in the traditional market, such as high issuance costs, fraud, and breakage. The architecture is explored in its Presentation (Frontend), Application (Backend), Blockchain, POS, and Privacy layers, interconnected by data flows and interactions. The paper delves into the technical components, including smart contracts for issuance and recharge, Zero-Knowledge Proofs (ZKPs) for privacy, and the use of stablecoins in Layer 2 (L2) for instant settlement. Software engineering formulas are presented to quantify performance and complexity metrics, while economic formulas illustrate the cost and value benefits. The paper concludes that the strategic application of these cutting-edge technologies enables GIFTY to build a robust, efficient, and private system, redefining value in digital commerce<br>