The upside of spending. Some purchases come back free, enter the jackpot and earn rewards. Build your Cero Score to unlock credit.
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Who cares about points?
@cerotoone sat down with @drewrogers on Stableminded.
2:30 How Cero started
14:33 Why people chose upside
22:06 Who cares about points?
24:40 What 5% yield on $10K buys
35:14 Building consumer in an infrastructure market
39:18 Teasing part two on credit
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Cero retweeted
"You can potentially get the chance to win a million dollars."
In April, @cerotoone got an email saying he and his co-founders had nine days to get to New York for the start of the Nitro accelerator.
Despite having no registered company, no website and no visas in place, they packed their bags and flew to New York to begin building @joinCero
Rather than becoming just another neobank, Cero has built a spending card for customers who expect more from their everyday spending than 1% cashback and a handful of points.
It pools the yield and card fees that its users generate and gives them back as bigger upside, such as free purchases and entries into a weekly prize draw worth up to $1 million.
Over time, each cardholder's spending builds a Cero Score, which grows with account activity and unlocks access to credit.
MJ's conversation with @drewrogers:
2:30 - Nine days' notice to join Nitro Accelerator
3:42 - The first pitch: an onchain credit card
5:04 - Electric Capital's advice to go loud
6:40 - What 150 crypto users told the team
9:21 - Uncollateralized lending, explained
14:33 - Why users chose upside over credit
16:41 - How Cero's onchain rewards protocol works
18:12 - The UK's Premium Bonds as a model
20:34 - The Cero Score and building reputation
22:06 - Why points don't change how people spend
24:40 - What 5% yield on $10K buys
28:13 - Pooling everyone's rewards into one pot
29:54 - Buy now, pay never and the coin flip
31:16 - Megapot draws, Pokémon packs and partner rewards
35:14 - An industry over-indexed on infrastructure
37:06 - Why Cero is launching in Mexico first
39:18 - Teasing part two: onchain credit
Episode 0062
Presented to you by Latitude / @rtp
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The upside of spending.
Full episode with @stabledash on Thursday.
We've hosted plenty of neobanks on the live show.
Cero is one that stood out. They never set out to be another neobank competing on cashback.
"People don't really care about 1% cashback, 5% yield, earned programs, random points. All they care about is the upside."
@cerotoone, who co-founded @joinCero, built the card around that idea. Instead of points or cashback, Cero offers their users chances for free purchases, weekly jackpot entries worth up to $1M and a uncollateralized credit line that you grow from zero.
In this episode we cover:
> The nine-day sprint to launch Cero
> How it fixes the crypto over-collateralization problem
> Why users ignore standard credit card points
> Government lotteries the inspiration behind Cero's jackpots
> How digital coin flips gamify the checkout experience
> Why Mexico is their strategic first launch market
Stableminded Ep. 0062 out this Thursday
Presented by @rtp / Latitude
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