Referral Program

Introduction

CVI's Referral Program is a feature introduced in V4, designed to incentivize and reward users for introducing new traders to the platform. This program is a strategic component of CVI's user engagement and growth strategy, encouraging wider participation and network expansion.

Mechanics of the Referral Program

Users can invite friends and acquaintances to trade on the CVI platform. Upon successful registration and commencement of trading by the referred individuals, the referrer begins to accrue rewards.

New users joining through a referral link receive rebates on their trading fees, providing an immediate benefit for opting into the platform through the referral system.

Referral Tiers and Rewards

The Referral Program is structured into multiple tiers, with each tier offering different levels of rewards based on the trading volume generated by the referees (referred users). The reward mechanism is tied to the total fees generated by the referees' trading activities.

• Tier System: The program is designed with several tiers, each with a threshold of trading volume generated by the referees. Higher tiers offer greater rewards.

• Reward Calculation: A percentage of the trading fees generated by the referees is allocated as rewards to the referrer. This percentage varies depending on the tier.

Tiers

Tier 1: This tier provides a 5% discount for traders and rewards referrers with a 5% rebate.

Tier 2: Affords traders a 10% discount and offers referrers a 10% rebate.

Tier 3: At this level, traders enjoy a 15% discount, and referrers receive a 15% rebate.

Example of Reward Distribution

• Scenario: Suppose a referrer is at Tier 2, and their referees have generated 1 million USDC in trading volume. Assuming the total fees generated for the protocol are 0.14%, this results in 1400 USDC in fees.

• Referral Reward: Based on the tier system, the referrer earns a certain percentage of these fees. For instance, the reward at Tier 2 is 10%, the referrer would earn 140 USDC.

Advantages of the Referral Program

• Community Building: This program fosters a sense of community and encourages existing users to contribute actively to the platform's growth.

• Incentivized Participation: By offering tangible rewards, the program incentivizes users to promote CVI, increasing platform visibility and user base.

• Mutual Benefits: Both referrers and referees benefit from the program, with referrers earning rewards and referees receiving fee rebates.