@dev_vv3
We turn cashback into free purchases.
It's the same budget a card already spends on cashback, split differently: a real discount fairly often, and now and then the whole purchase back. How it works, and why we're building it now, below.View quoted post on X
A 2% cashback card spends 2% of every purchase on rewards. With Fade, the issuer decides what that 2% feels like.
It can give 1 purchase in 5 a 10% discount, so cardholders win often. Or it can give 1 purchase in 50 the whole purchase back, which happens less often but is the kind of win people tell their friends about.
Both cost about the same on average. The issuer sets the odds and can change them at any time, and our shared vault on @solana pays every win.View quoted post on X
Stablecoins moved $482B in payments between January and September, 45% more than a year earlier.
Payments went on-chain. Rewards are next. The odds are public before you pay, the draw happens on-chain, and if you win, the money is in your wallet a few seconds later.
We're building Fade so any card, wallet or app on @solana can plug that in.View quoted post on X
Quick math for card issuers.
2% cashback on a $50 dinner is $1. Your cardholder won't even notice it.
Put that 2% into Fade instead: 1 purchase in 10 gets 10% back, 1 in 100 gets the whole dinner back. It costs you about the same.
Nobody talks about getting $1 back. Everybody talks about the free dinner.
You pick the odds, the shared vault absorbs the variance, and wins land in seconds on @solana.View quoted post on X
