Terms of use

02Who runs it, and our payment partner’s role

ZeroLoss is run by [legal name, address and contact of the operator - to be added before launch].
ZeroLoss’s payment partner runs your login, the checkout where you pay, your Store Vault where money comes back, and the file storage. Its own terms apply to your account, your Store Vault and your payments at checkout.
Our payment partner holds each pool’s money in the pool’s own account, which nobody can spend. ZeroLoss tells our payment partner where the money goes, by these terms. Our payment partner makes the bonds the pools are invested in.

Pressing Join makes an order and holds your spots (and any numbers you chose) for 20 minutes while you pay at checkout: with your Store Vault balance, a card, UPI in India, or crypto outside India.
The spots are yours once our payment partner confirms the payment. If you don’t pay within the 20 minutes, the hold ends, the spots are free again, and nothing is charged.
If your payment arrives after the hold has ended, you still get the spots when they still fit. When they don’t (the pool is full or closed to new members), the whole payment goes back to your Store Vault.
Each pool is in INR or USD, the currency of its bond. ZeroLoss charges no fee on spots. A fee your bank, card or payment method charges you is between you and them, and is not part of the money paid back.

At the lock-up (when the pool is full, or on its lock-up date) the whole pool is invested in the bond shown on the pool, at its fixed rate, until the time the pool shows. Every pool shows its bond, its rate, its pick time and its money-back date before you join.
For most pools the bond runs from the lock-up until the pick time the founder set: the live pick is then, and the money back and the rewards are paid an hour later, once our payment partner says the bond has paid its interest and the pool’s money back into the pool. Some older pools have a bond with a fixed term instead: their money-back time and pick are the end of that term plus 24 hours, once the bond has paid. If the bond pays late, the money back waits for it, and the pool says “Waiting for the bond to pay out”.
Your money back and the interest depend on the bond paying. The bond is an investment, not a bank deposit. Neither ZeroLoss nor the founder can pay back more than the bond pays: if it pays late, you get your money late, and if it does not pay in full, you may get less back, or nothing.
Once the pool is invested it cannot be cashed early. Spots cannot be cancelled after the lock-up.
What the picked members get comes only from the bond’s interest, never from anyone’s money paid in. The interest is shown as a flat rate rounded down to 0.01%, so the pick’s public proof can work out each share exactly. The few paise or cents under that go to the founder with the founder’s share.

If the founder allows it, you can cancel spots before the lock-up. Their money goes back to your Store Vault.
If a pool does not fill up by its lock-up date, or too few people join, it is called off: every spot is refunded in full to its owner’s Store Vault, and the bond is given back.
A founder can call off a pool only before its lock-up. Every spot is then refunded in full to its owner’s Store Vault.
Refunds, money back and interest are sent through our payment partner and can take a few minutes to show in your Store Vault. On ZeroLoss you can add money to your Store Vault by moving your own money in from your vault in another office or by a crypto deposit, and withdraw from it: these screens are ours, but the move, the deposit and the payout are done by our payment partner, under its terms. Your card, bank and crypto details go to the partner, never to ZeroLoss.

The bond’s interest is split between the picked member and the founder of the office, as each pool shows before you join. Our payment partner takes no cut.
Each pool picks one member, who gets the whole of the picked member’s part.
The founder may share part of the founder’s share up every member’s network, through the office’s comp plan, split by what each member put in. Commission comes only out of the founder’s share, never out of money paid in or the picked members’ share.
At the money-back time our payment partner pays, in this order: everyone’s money back, the picked member’s interest, the commission, then the rest to the founder. All of it goes to Store Vaults.

Every pick is set before it happens. Before the first spot is taken the pool posts a lock code (the fingerprint of a secret). At the lock-up the spot list is sealed into one code, and the public drand random number the pick will use is fixed. Both codes are stamped on Bitcoin through OpenTimestamps.
After the pick the secret is revealed, and anyone can redo the maths in their own browser from the public pick history (Check a pick) and get the same picked members.
If drand can’t be reached in time, the pick uses the locked secret and the sealed spots alone, and the pool says so on its page and in its pick history.

You must be 18 or older and a member of the office whose pools you join.
Pools like these are not allowed everywhere. You may take part only where they are allowed, and it is up to you to check the law where you live.
Interest and commission may be taxed where you live. Declaring and paying that tax is up to you. ZeroLoss does not give legal, tax or investment advice.
One account per person, with your own money. Don’t try to break, slow down or trick the app, its payments or its picks.