Referral program

The referral program pays the inviter (the referrer) a share of the fees of the traders they brought. The trader pays nothing extra: the referrer's share comes out of the fee the trader pays anyway.

How to join

1. Code. The referrer registers a code with MsgRegisterCode.
   • From 3 to 32 characters.
   • Case does not matter: the code is stored in upper case.
   • Up to 10 codes per address.
2. Link. The trader links to a code with MsgSetReferrer.
   • The link is set once and never changes.
   • A trader cannot link to their own code, nor to the code of a trader they invited themselves.
   • The link can be set later as well; only trades made after it count.

What the referrer earns

The share depends on the trading volume of all invited traders in the current window of 1,728,000 blocks (~17 days):

• Window. Windows run back to back and reset for everyone at once: in a new window the volume counts from zero and the share returns to the base level.
• Where it comes from. The share is computed from the referred trader's fee. It is paid out of the part left after the 20% insurance fund share.
• Limit. The referrer earns at most 10,000 USDC from one referred trader per window.
• Payout. Right when each trade settles, in USDC to the referrer's wallet.
• Referred trader discount. There is currently no discount for the invited trader.

When there is no payout

• Protocol subaccounts. Trades of subaccounts owned by the protocol (promo vouchers, the vault) produce no payouts.
• Module address. There is no payout if the referrer is a module address.
• The program is off by governance.