Virtual Silver Wallet Policy
1. Nature and Definition of Virtual Silver
"Virtual Silver" (symbol: VS) is the proprietary, closed-loop loyalty reward and accounting unit of the Amountshop network. Virtual Silver is strictly pegged at a 1:1 fixed conversion rate with the legal tender of India:
2. Important Regulatory Disclaimers
- Virtual Silver is NOT actual physical silver bullion, jewelry, or an alloy product.
- Virtual Silver is NOT a security, commodity, cryptocurrency, or virtual digital asset (VDA) under Section 2(47A) of the Income Tax Act.
- Virtual Silver does NOT represent a bank deposit, interest-bearing instrument, or guaranteed return product.
- Virtual Silver carries zero speculative value and does not appreciate or fluctuate with financial commodity markets.
3. The 6-Bucket Accounting Ledger
To ensure strict mathematical clarity, every member's wallet maintains 6 distinct balances computed directly from immutable ledger rows:
- Pending Commission: Commissions awaiting the expiration of the merchant's 30-day return window.
- Confirmed Commission: Lifetime cumulative earnings verified by merchant postbacks.
- Available Virtual Silver: Liquid balance fully eligible for payout redemption (Min. ₹500).
- Reserved for Payout: Funds temporarily locked while a submitted withdrawal request undergoes maker-checker review.
- Total Paid: Lifetime cumulative funds disbursed to the affiliate's bank/UPI account with verified bank UTR references.
- Reversed Commission: Cumulative commission clawbacks triggered by customer returns or order cancellations.
4. Core Double-Entry Ledger Invariant
The platform guarantees that at all times, every member wallet satisfies the fundamental accounting invariant:
5. Immutability of Posted Financial Entries
In accordance with enterprise accounting standards, financial ledger entries are strictly immutable. Amountshop administrators cannot modify, overwrite, or delete historical ledger records. Any correction necessitated by merchant error or order reversal must be executed via an authorized compensating adjustment entry accompanied by mandatory audit justification notes.