YFX offers a new referral program that allows invitees to enjoy a transaction fee discount and inviters to earn transaction fee rebates whenever invitees trade on YFX. The maximum rebate rate is 30%, while the maximum discount rate is 10%.
Once an inviter-invitee relationship is established, the transaction fee rebate is credited to the inviter’s wallet in real time after each invitee’s transaction is confirmed on the chain. The inviter can get 1 URP token (Referral proof) for every 1 USD traded by the invitees. There are five tiers of transaction fee rebates and discounts. When the inviter’s URP accumulates to a certain amount, users can burn URP tokens to move up a tier.
The invitation code is recorded on the blockchain and will never expire. Suppose an invitee wants to establish a new invitation relationship. In that case, they can go to "Referrals," click "My Transactions," and click "Link With Invitation Code" to link with a new invitation code. Alternatively, they can click on a new invitation link. The invitation relationship is updated when they successfully make a trade.
After creating the invitation code, the inviter can share the invitation link on any platform, like Twitter and Telegram. When a user clicks on the link and starts trading perpetual contracts, that user can enjoy a transaction fee discount, and the inviter will receive a transaction fee rebate.
For example, Alice invites Bob to trade on YFX (the rebate rate is 10%, and the discount rate is 5%). When ETH is priced at 2,000, Bob longs 10 ETH. The transaction fee before applying the transaction fee discount is 10 USDC (the transaction fee rate is 0.05%), so the transaction fee discount is 10 x 5% = 0.5 USDC, and Bob will pay 9.5 USDC as a transaction fee and increase his position size by 0.5 USDC. Alice will receive a transaction fee rebate of 10 x 10% = 1 USDC.
The invitation code is case-sensitive. For example, ALICE and Alice are two invitation codes.
The invitation code must be within 32 characters and contain numbers or letters.
A user can create multiple invitation codes. Every invitation code is unique on a public blockchain.
Invitees can create invitation codes and become inviters themselves.
Transaction fee rebates are settled in real time. When an invitee trades, the transaction fee rebate is distributed to the inviter's wallet address in real time.
Since there is no direct way to sync between multiple blockchains, the same invitation code may have different owners on different blockchains. The protocol will determine the ownership of the invitation code based on the oldest TimeStamp associated with the invitation code. The owner of the invitation code with the oldest TimeStamp owns the same invitation code on other blockchains.
For example, Alice creates an invitation code "Alice001" on Arbitrum. Later, another user creates an invitation code "Alice001" on another blockchain. Because Alice's invitation code has the oldest TimeStamp, the protocol will change the owner of the invitation code "Alice001" on the other blockchain to Alice.
You can upgrade your invitation code to get a higher transaction fee rebate and discount by burning URP tokens.
When an invitee trades perpetual contracts, for every $1 traded, YFX will send 1 UTP token to the invitee and 1 URP token to their inviter. UTP and URP tokens cannot be transferred or withdrawn. Users can only use UTP and URP tokens to stake and earn rewards.
For example, Alice invites Bob to trade on YFX. If Bob trades $2,000 worth of perpetual contracts, Bob will receive 2,000 UTP tokens, and Alice will receive 2,000 URP tokens.
UTP and URP will only be issued when an invitee trades linear and inverse contracts.
Users can claim UTP and URP on the "Referrals" page.
UTP and URP will not be issued if it is a liquidation order.
YFX provides an additional business affiliate program for KOLs, community leaders, media organizations, and data aggregation websites.