And they also make money in seignorage (profit in undredeemed tokens). The tokens cost 25 cents to buy but certainly don't cost 25 cents to make, so that delta

And they also make money in seignorage (profit in undredeemed tokens). The tokens cost 25 cents to buy but certainly don't cost 25 cents to make, so that delta is profit. A lot of tokens are "saved for next time" but next time never comes, and then you discover those tokens in a drawer somewhere a decade later long after they're no longer spendable.