Tremis Route Capital

The Toronto skyline and CN Tower at sunset over Lake Ontario

Own a share ofAmerican freight

Tremis DLS operates twelve FedEx Ground routes from two Midwest terminals. Series R-1 tokenizes the economic interest in that business and pays out settlement revenue every quarter.

Scroll to explore

Routes

8 P&D · 4 linehaul

Vehicles

step vans and tractors

TTM revenue

$6.4M

across the portfolio

Distributed to date

$433K

7 quarters, never missed

A new standard for owning route cashflow

One class of token, issued in rounds against a registry of real assets. Open a row to see what stands behind it.

The current round. $1.00 per token against a portfolio appraised at $5.90M, closing at target or 30 June 2027. Minimum subscription $500, funded by bank transfer, USDC or USDT.

Eligible investors only

Twelve linehaul and P&D contracts out of Fort Wayne and Toledo, 34 vehicles and an 18,000 sq ft facility. Every item is a registry record with its own valuation and documents.

Fort Wayne · Toledo

Settlement revenue less operating costs, debt service and the operator fee, split pro rata by balance at the record date. Seven quarters paid, none missed.

Paid every quarter

Where the money comes from

This is an operating business, not a yield promise. Parcels move, the contracts settle weekly, and what remains after running the fleet is split among token holders. Below: one quarter of settlement revenue, to scale.

Operating costs — drivers, fuel, maintenance, insurance, facility$1,186,00073.9%

Debt service on the fleet and facility$218,00013.6%

Operator fee$88,0005.5%

Distributable to token holders — $0.039437 per token$112,0007.0%

Tremis is building investor-grade ownership of the routes that already move the parcels.

0route contracts under operation

0trailing twelve-month revenue

0distributed to holders over seven quarters

Seven quarters, seven distributions

Every run is computed from token balances at the record date. NAV per token is re-derived from the appraisal and the ledger each quarter.

Quarter	Record date	Distributed	Per token	NAV after
Q3 2026	30 Sep 2026	$112,000	$0.039437	—
Q2 2026	30 Jun 2026	$112,000	$0.039437	$1.104
Q1 2026	31 Mar 2026	$109,200	$0.038451	$1.089
Q4 2025	31 Dec 2025	$104,800	$0.036901	$1.072
Q3 2025	30 Sep 2025	$101,500	$0.035739	$1.058

A real operating business, recorded line by line

Nothing here is a pool of unnamed assets. Each route, vehicle, contract and facility is a record with its own valuation, documents and status, and the token is issued against that set.

Route	Terminal	Type	Stops / day	TTM revenue
RT-FWA-114	FWAFort Wayne, IN	P&D	128	$412,000
RT-FWA-122	FWAFort Wayne, IN	Linehaul	—	$706,200
RT-TOL-207	TOLToledo, OH	P&D	117	$389,400
RT-TOL-211	TOLToledo, OH	Linehaul	—	$664,900
+ 8 more	—	—	—	$4,226,500

Four steps from sign-up to first distribution

Verify once

Identity, sanctions and eligibility checks run before any investment screen opens. Your wallet is whitelisted on the token contract, and nothing can be allocated to an address that is not on that list.

Document and liveness check through the KYC provider
Sanctions and PEP screening, re-run before every distribution
Jurisdiction and accreditation rules applied server-side
Wallet ownership proven by signature

Takes a few minutes. Minimum subscription $500.

Built for a regulated offering, not a token launch

Every claim on this page is backed by a document a verified investor can open, or by a rule enforced in code.

The portfolio was appraised by a third party in June 2026 and is re-appraised annually. Route-level revenue comes from settlement statements, not projections, and the same records feed the appraiser and the quarterly waterfall.

Only whitelisted, eligible investors can hold or receive the token. Jurisdiction and accreditation rules are applied server-side before any allocation and enforced again by the transfer restriction on-chain.

Token and distribution contracts were reviewed by an external security firm before mainnet. The report is public and linked from the data room, together with the deployed addresses.

Payouts are derived from the registry and the token ledger and keyed by period and record date. A run executed twice pays once; remainders are carried to the next run rather than rounded away.

Every compliance, registry and treasury action is recorded with actor, target, result and timestamp. Records are versioned, never overwritten, so what the tokens were issued against stays reconstructable.

Our registry, your tokens

Four systems, one chain of custody from a parcel route to a payout in your wallet.

Assets as records

Routes, vehicles, contracts and facilities as versioned records. Editing one writes a new version — it never rewrites what tokens were issued against.

Record types4

Linked toSeries R-1

Change logappend-only

Permissioned token

ERC-20 compatible and transfer-restricted, with investor permissions and supply controls that change without redeploying.

NetworkBase

Supply4,000,000

Transferswhitelist only

Subscriptions & redemptions

Bank and stablecoin funding matched to allocations. Redemption pays the holder, burns the tokens and reduces supply in one sequence.

Fundingwire · USDC · USDT

Redemptionquarterly window

On failureexception, not drift

Pro-rata engine

Balances at the record date in, idempotent payouts and an audit entry out. Every holder's amount is derived, never typed.

Precision6 decimals

Remaindercarried over

Re-runpays once

Roadmap

Fiat rail

Opening the round to investors who do not hold stablecoins, without asking them to learn a wallet first.

USD bank subscriptions matched by reference
Embedded wallets for investors without one
Fourth redemption window, 31 December

Operators first, issuers second

The platform is run by the people who run the routes. Roles below are the ones accountable for what investors see.

Arkadiy Shpindler

President

Founded the contractor in 2018, signs the operating agreements and owns the relationship with the network.

Terminal operations

Fort Wayne & Toledo

Dispatch, fleet maintenance and driver staffing across both terminals. Feeds weekly settlement data into the registry.

Finance

Reporting & treasury

Prepares the quarterly waterfall, reconciles distributions and manages the redemption pool.

Compliance

Investor eligibility

Reviews verification results, approves whitelisting and maintains the jurisdiction rules applied on the contract.

From the operator

22 Sep 2026

Q2 2026 distribution paid to 212 holders

$112,000 distributed at $0.039437 per token. The reconciliation and the per-holder ledger are in the data room, together with the settlement statements the figures came from.

08 Sep 2026

June appraisal posted, NAV moves to $1.104

Bradley & Co. re-valued the fleet and the facility. NAV per token is up 10.4% since launch, driven by retained revenue and a firmer used-vehicle market.

27 Aug 2026

RT-TOL-211 enters contract renewal

The Toledo linehaul contract is up for renewal in 18 days. The revenue is flagged in the Q3 projection and the registry record carries the renewal status until it is signed.

What investors ask first

What exactly do I own?

A token representing an economic interest in the Series R-1 portfolio — the twelve route contracts, the vehicles, the facility and the operating agreements recorded in the asset registry. You do not own a specific truck; you own a defined share of the portfolio's economics.

How is the yield produced?

From settlement revenue on the route contracts, after operating costs, debt service and the operator fee. The waterfall is published with every quarterly run, and the figures come from the same records the appraiser reviews.

Can I sell whenever I want?

Not on an exchange — transfers are restricted to whitelisted investors. You can request redemption at NAV in the quarterly window, filled from the redemption pool in submission order. A regulated secondary venue is on the 2028 roadmap.

Who can invest?

Verified investors in permitted jurisdictions who pass identity, sanctions and eligibility checks. The rules are applied server-side and enforced on the token contract before any allocation.

What happens if a route contract is not renewed?

The record is flagged in the registry, the affected revenue is removed from the next quarter's projection, and the change is disclosed with the quarterly report. Portfolio concentration by terminal is published in the data room.

Series R-1 closes 30 June 2027

Verification takes a few minutes. Minimum subscription $500.

Offering

Documents

Platform

Tremis DLS Inc.

Fort Wayne, Indiana. An independent route contractor operating FedEx Ground routes since 2018.

Series R-1 · open

Twelve FedEx Ground routes, held as one tokenized portfolio

Settlement revenue from the portfolio is distributed quarterly, pro rata, to token holders. Exit is a redemption at NAV in the quarterly window.

Committed

$2.84M

of $4.00M target

Token price

$1.00

TRMS-R1, this round

NAV per token

$1.104

as of 30 Jun 2026

Target yield

11.2%

quarterly, net of opex

71% subscribed · 212 investorsCloses at target or 30 Jun 2027

Your access

Identity

Verified

Sumsub · SB-88421

Eligibility

Accredited

US · IL

Wallet

0x7a3f…c419

whitelisted on contract

Investment limit

none

accredited status

Asset registry · investor view

What the token is issued against

Every line is a registry record with its own valuation, documents and status. Changing a record writes a new version and an audit entry — it never rewrites what tokens were issued against.

Routes

8 P&D · 4 linehaul

Vehicles

step vans and tractors

Facilities

Fort Wayne, IN

Appraised

$5.9M

third party, Jun 2026

Routes

Route	Terminal	Type	Stops / day	TTM revenue	Status
RT-FWA-114	FWAFort Wayne, IN	P&D	128	$412,000	active
RT-FWA-118	FWAFort Wayne, IN	P&D	141	$448,500	active
RT-FWA-122	FWAFort Wayne, IN	Linehaul	—	$706,200	active
RT-TOL-207	TOLToledo, OH	P&D	117	$389,400	active
RT-TOL-211	TOLToledo, OH	Linehaul	—	$664,900	contract renewal
+ 7 more	—	—	—	$3,778,000	in registry

TTM revenue is settlement revenue before opex. Opex, debt service and the operator fee come out before the investor split.

Token terms

TokenTRMS-R1 · ERC-20, permissioned

NetworkBase

Contract0x4d21…8be0

Supply4,000,000

Transfer rulewhitelisted holders only

Exitredemption at NAV, quarterly window

Valuation

NAV per token

There is no exchange price — the token does not trade on an open market. What moves is net asset value per token, recomputed each quarter from the registry valuation and retained revenue, and the issue price of each round.

NAV per token

$1.104

30 Jun 2026

Since launch

+10.4%

over 7 quarters

Your position

$27,600

25,000 tokens at NAV

Next revaluation

30 Sep

after Q3 appraisal

NAV history as a table

Funding rounds

Each round is priced at or above the NAV at the time it opens. Later rounds add capital against added assets.

Round	Opened	Issue price	Raised	Status
Series R-1	Jul 2026	$1.00	$2,840,000	open
Series R-2	Q3 2027	$1.12 indicative	—	planned
Series R-3	2028	$1.20 indicative	—	planned

How NAV is computed

Appraised portfolio value$5,900,000

Retained revenue, not yet distributed$218,000

Outstanding debt−$1,684,000

Accrued liabilities−$118,400

Net asset value$4,315,600

Tokens issued2,840,000 of 4,000,000

NAV per token$1.104

Every input comes from the registry and the token ledger. The operator posts the quarter's appraisal and financials once; nobody types the per-token figure by hand.

Account · Arkadiy S.

Portfolio

Invested

$25,000

1 series

Token balance

25,000

TRMS-R1

Value at NAV

$27,600

$1.104 per token

Distributions

$1,383

2 payments received

Holding

Series	Underlying	Tokens	Interest	Value at NAV	Status
TRMS-R1	12 routes · 34 vehicles · 1 facility	25,000	0.625%	$27,600	settled

Activity

Date	Event	Amount	Reference
15 Jul 2026	Distribution · Q2 2026	+$700.00	DST-2026Q2
15 Apr 2026	Distribution · Q1 2026	+$682.50	DST-2026Q3
04 Mar 2026	Allocation · 25,000 TRMS-R1	—	0x91c4…77aa
04 Mar 2026	Deposit · USDC	$25,000.00	0xa7b2…41de

Distributions

Quarterly payouts

Each run is computed from token balances at the record date and paid to whitelisted wallets. A run executed twice pays once.

Period	Record date	Pool	Per token	Your payout	Status
Q3 2026	30 Sep 2026	$112,000	$0.039437	$985.93	scheduled
Q2 2026	30 Jun 2026	$112,000	$0.028000	$700.00	paid
Q1 2026	31 Mar 2026	$109,200	$0.027300	$682.50	paid

Q3 2026 waterfall

Settlement revenue$1,604,000

Operating expenses−$1,186,000

Debt service−$218,000

Operator fee−$88,000

Distributable$112,000

The operator enters the quarter's figures once. The per-token rate and every holder's payout are derived from the registry and the token ledger.

Registry

Assets

Routes, vehicles, contracts and facilities are separate record types linked to a series. Editing a record writes a new version and an audit entry.

Record	Type	Linked to	Valuation	Docs	Status
RT-FWA-114	Route	Series R-1	$680,000	4	active
VH-2211	Vehicle · step van	RT-FWA-114	$38,400	3	in service
VH-2212	Vehicle · step van	RT-FWA-114	$36,900	3	maintenance
CN-FWA-2024-7	Operating contract	RT-FWA-114, -118	—	2	current
FC-FWA-01	Facility · 18,000 sq ft	Series R-1	$1,240,000	6	leased

Investors

Verification queue

Approval whitelists the wallet on the token contract. Until then the investor cannot hold or receive TRMS-R1, whatever the interface shows them.

Investor	Jurisdiction	KYC	Accreditation	Wallet	Action
A. Shpindler	US · IL	passed	accredited	0x7a3f…c419	whitelisted
M. Ellery	US · OH	passed	accredited	0x2bd8…90f1
J. Okafor	UK	passed	ineligible	—	blocked by jurisdiction rule
S. Varga	US · TX	documents	pending	—	waiting on investor

Audit

Action log

Every compliance, registry, token and distribution action is recorded with actor, target and result. The log is append-only.

Time	Actor	Action	Target	Result
22 Sep 14:02	ops@tremis	Valuation updated	FC-FWA-01	v4
22 Sep 11:47	compliance@tremis	Wallet whitelisted	0x2bd8…90f1	on-chain
21 Sep 16:20	compliance@tremis	Accreditation rejected	J. Okafor	jurisdiction
20 Sep 09:15	system	Subscription unallocated	SUB-2026-0866	exception

A new standard for owning route cashflow

Where the money comes from

Seven quarters, seven distributions

A real operating business, recorded line by line

Four steps from sign-up to first distribution

Verify once

Fund your subscription

Hold a tracked interest

Take income, or exit

Built for a regulated offering, not a token launch

Our registry, your tokens

Assets as records

Permissioned token

Subscriptions & redemptions

Pro-rata engine

Roadmap

Fiat rail

Reporting & scale

Series R-1 close

Secondary liquidity

Operators first, issuers second

Arkadiy Shpindler

Terminal operations

Finance

Compliance

From the operator

Q2 2026 distribution paid to 212 holders

June appraisal posted, NAV moves to $1.104

RT-TOL-211 enters contract renewal

What investors ask first

Series R-1 closes 30 June 2027

Offering

Documents

Platform

Tremis DLS Inc.

Create your account

Verify your identity

Twelve FedEx Ground routes, held as one tokenized portfolio

Your access

What the token is issued against

Routes

Token terms

NAV per token

Funding rounds

How NAV is computed

Subscribe

Subscription confirmed

Portfolio

Holding

Activity

Quarterly payouts

Q3 2026 waterfall

Request an exit

Request EXR-2026-0142 submitted

Why not an order book

Series R-1 status

Needs attention

Assets

Verification queue

Prepare Q3 2026 run

Exit queue · window closing 31 Dec

Action log