The referral program aims to enhance the visibility of the platform and its user base. Incentives for both traders and those making referrals will create a snowball effect, bolstering Borabora's position in the field, while also increasing its usage. This will lead to wider participation and coverage across the platform, ultimately driving higher protocol revenue.
After connecting their wallet, each user will receive a unique referral link. You can send this exclusive link to your friends, and once they visit and bind through the link, your referral relationship will be successfully established. When inviting friends, please note the following:
Users cannot bind their own referral link.
Each user has only one unique referral link.
A user can only bind to one referral link.
Multiple users can bind to the same referral link without any limit on the number.
Once the referral relationship is successfully established, it cannot be undone.
Once the referral relationship is successfully established, both the referrer and the referred person will receive rewards when the referred person makes a transaction (whether in the aggregate pool or the isolated pool).
Referrer Reward: 8% commission rebate of the referred person's transaction fees.
Referred Person Reward: 2% rebate of their own transaction fees.
To ensure the certainty of user earnings, the final commission rewards will be distributed in the form of USDT. In the future, referral rewards may also be distributed in the form of ecological tokens within the Borabora protocol.
Rewards are distributed monthly, between the 1st and 2nd of each month for the previous month's referral rewards.
At 00:00:00 UTC on the last day of each month, users whose unredeemed commission total value is calculated to be >=100 USDT will enter the distribution list for that period. If the condition is not met, the total will continue to accumulate until the next distribution period.
Example of Distribution
If Tom has accumulated commission value of 78 USDT by January 31st, he will not receive rewards on February 1st-2nd;
If Tom's new commission value gained by February 28th is 28 USDT, making the cumulative commission value 106 USDT, then rewards of approximately 106 USDT will be distributed to Tom on March 1st-2nd;
If Tom does not claim the 106 USDT reward and gains a new commission value of 101 USDT by March 31st, then rewards will again be distributed to Tom on April 1st-2nd, totaling approximately 207 USDT for him to claim.
The actual amount of rewards received by users may deviate from the expected amount due to the following reasons:
Fluctuations in the price of the assets being rebated.
Attrition of various types of long-tail assets during acceptance.
This represents an inevitable risk exposure and transaction cost. Although it cannot be completely avoided, Borabora adopts the best strategies during asset exchange to minimize both risks and costs.