The Advanced Referral is an easy to setup, but powerful plugin that will encourage our users to bring in even more users and get them trading, and reward them all automatically
Available to Diy Boost, Crypto Pro and Fiat Ramp operators for a one-time cost of $2,500
The advanced referral plugin automates rewarding users for referring new users to your exchange, encouraging your current user base to help build your exchange.
Users who refer others can earn a percentage of the trading fees generated by the referred users they onboarded. The exact percentage amount is left to you as a user.
Operators who want to encourage users to help build their exchange's user base, making them feel rewarded and valued for their contributions to the community.
After installation, there are a handful of factors to decide in the configuration screen
Here referrer is the user who was on the exchange originally and sent their link to another person who signed up, the referee.
earning_rate: The percentage of Orderbook trading fees that the referee generates that will be sent to the referrer.
earning_period: How long after the referee signs up, that the referrer will receive the above percentage from fees. Setting this to 0 will mean that there is no expiry date.
earning_interval: This box allows defining when all the settled referee fees, will be sent to all the relevant referrers. Three valid entries are possible:
- Month: Fees are settled every first day of the month at midnight.
- Week: Fees are settled every Sunday at midnight.
- Day: Fees are settled every day at midnight.
distributor_id: This is the account in which every
earning_intervalwill have the total amount of calculated fees taken from it, and then distributed to all relevant referrers. In most cases, this account will match the exchange wallet in which exchange-wide fees are settled to. Ensure this is topped up such that referrers receive their rewards.
Consider a simple example with the settings above. On my exchange, I have two referrers who both referred a single referee:
- Homer - Who sent his invite link to:
- Bart - Who traded $10,000 USD worth in his first week
- Marge - Who sent her invite link to:
- Lisa - Who traded $20,000 USD worth in her first week
In all trades let's imagine a 0.1% trading fee in all trades.
This would mean Bart and Lisa generated $30 in fees this week. In the case of a Crypto Pro exchange, 25% of this would go to HollaEx as part of revenue sharing, leaving $22.50 on the exchange.
With the Earning Rate set at 25%, $7.50 would be split between Homer and Marge. Homer will receive $2 worth of relevant assets and Marge will receive $5 due to the difference in the volume of their referees.
The leftover $15 (+ all over fees on the exchange) can be settled at any time in the Earning tab of the operating controls to the chosen account, likely the admin account with ID 1, so that I can ensure my referrers always receive their rewards.
This will be paid out from Account ID 1's (the admin) wallet (in the relevant assets) due to the chosen Distributor ID, at midnight every Sunday (due to the Settlement Interval).
This process will repeat for whatever amount of assets Bart and Lisa trade for until 3 months after they have signed up, at which point Homer and Marge will no longer get a cut of Bart and Lisa's trading fees due to my set Earning Interval.