tAssets are receipt tokens that a Liquidity Provider receives when they deposit tokens into a Pair or Token Reactor. These tABC tokens represent your underlying claim to the assets you deposited into the token reactor, available to be redeemed 1:1 at any time (pending Cycle withdraw period).
tAssets are transferable, however, whichever wallet holds the tABC tokens can claim the underlying deposited assets.
Analogous to AAVE's "a" tokens, these assets are 1:1 representative of your stake and is subsequently burned when claiming the underlying asset.
Example: if you deposit 750 SUSHI into the SUSHI token reactor, you will receive 750 tSUSHI. In order to claim your underlying asset, you must call the withdraw function, wait for the current Cycle to end, and have your 750 tSUSHI in your wallet when they become claimable. This will in effect burn the tSUSHI tokens in order to receive the underlying asset (750 SUSHI).