Deri Protocol is glad to introduce our Referral Program, meticulously designed to stimulate platform growth, boost liquidity, and foster partnerships within the DeFi ecosystem. By offering competitive rewards to contributors, we aim to expand our community, maintain competitiveness in the DeFi landscape, and create synergies with other DeFi platforms.
In this article, we’ll provide an overview of the Referral Program, illustrate its reward architecture, explain the roles and responsibilities of participants, and guide you on joining the program.
Tiered Reward Structure
As outlined in DIP-005, up to 40% of transaction fees will be allocated to contributors as rewards for their contribution efforts.
The Referral Program offers a tiered rewards system, encouraging participants to contribute more to Deri Protocol and earn higher rewards. The tiers are as follows:
- 1.Tier 1: ≥ 10 transaction fees, 20% commission rate
- 2.Tier 2: > 1,000 transaction fees, between 20% and 24% commission rate
- 3.Tier 3: > 2,000 transaction fees, between 24% and 28% commission rate
- 4.Tier 4: > 4,000 transaction fees, between 28% and 32% commission rate
- 5.Tier 5: > 6,000 transaction fees, between 32% and 40% commission rate
- 6.Tier 6: > 10,000 transaction fees, 40% commission rate
Roles and Responsibilities
The Referral Program primarily involves two participants: Brokers and Broker Recruiters. Brokers are responsible for attracting traders using their unique referral links, while Broker Recruiters identify and onboard suitable Brokers to Deri Protocol. Brokers receive 90% of all commission fees generated by their associated traders, while Broker Recruiters earn the remaining 10%.
To help illustrate how commission fees work, consider the following example:
Suppose Alice is Bob’s recruiter, and Bob is Charlie’s broker. If Charlie’s cumulative transaction fee is 1,500, Alice and Bob’s commissions are calculated as follows:
- 1.Tier 1 Commission rate is 20%, resulting in a total commission of 1,000*20%= 200.
- 2.Since Charle’s transaction fee falls between 1000 and 2000, the commission rate lies between 20% and 22% (Note: 20% + (1,500–1,000) * (24% — 20%) / (2,000–1,000) = 22%)
- 3.Therefore the total accumulative commission is 200+(1,500–1,000)*(20%+22%)/2= 305
- 4.In total, Alice’s commission is 30.5, and Bob’s commission is 274.5
Both Brokers and Broker Recruiters can view detailed reward information on their dashboards, which are updated every 24 hours.
How to join the program
Now that we’ve discussed how to join the Referral program. The Deri Protocol team aspires to create the ultimate decentralized derivatives trading protocol, which necessitates harmonizing incentives and values. To achieve this goal, we encourage you to contribute to Deri Protocol’s growth.
Become A Broker Recruiter
To apply, simply fill out the Broker Recruiter application form, which contains detailed information about the requirements. Our team will carefully review your application, and once it is approved, you will find your unique referral link on your dashboard, where your total referred transaction fees are tracked.
Step 2: Once your application is accepted, you can find your referral code on the dashboard. Click the code, and share it to your brokers.
Step 3: Check the reward details on your dashboard.
Become A Broker
All you have to do to become a Broker is to bind a Broker Recruiter with his/her referral link.
Step1 : Click the “Generate Code” to create your referral code
Step 2: Input your code and your associated Broker Recruiter Code, and click “Confirm” to bind you and your broker recruiter on chain
Step 3: Check your reward details on the dashboard.
Join the Deri Protocol Referral Program today and start earning rewards as you contribute to the platform’s growth and success!