Referrals
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 75%, while the maximum discount rate is 20%.
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 (USD Referral Points) for every 1 USD traded by the invitees. There are eight 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.
Higer Tier Rebate Code Application Form
Tier | Transaction Fee Rebate % (For Inviters) | Transaction Fee Discount % (For Invitees) | URP Requirement For Moving Up A Tier Level |
1 | 10% | 5% | None |
2 | 20% | 7% | 2,000,000 |
3 | 30% | 9% | 6,000,000 |
4 | 40% | 11% | 10,000,000 |
5 | 50% | 13% | 30,000,000 |
6 | 60% | 15% | 50,000,000 |
7 | 70% | 20% | 70,000,000 |
8 | 75% | 20% | 80,000,000 |
The referral 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 "Traders," and click "Active Referral Code" to link with a new referral code. Alternatively, they can click on a new invitation link. The invitation relationship is updated when they successfully make a trade.
After creating the referral 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.
Example
For example, Alice invites Bob to trade on YFX (the rebate rate is 10%, and the discount rate is 5%).
When Bob is charged with a $100 USDC transaction fee, Bob will only need to pay $95 USDC in fees, and Alice will receive a $9.5 USDC referral rebate.
Notes
Notes:
The referral code is case-sensitive. For example, ALICE and Alice are two referral codes.
A user can create multiple referral codes. Every referral code is unique on a public blockchain.
Unique invite code on each blockchain
Since there is no direct way to sync between multiple blockchains, the same referral code may have different owners on different blockchains. The protocol will determine the ownership of the referral code based on the oldest TimeStamp associated with the referral code. The owner of the referral code with the oldest TimeStamp owns the same referral code on other blockchains.
For example, Alice creates an referral code "Alice001" on Arbitrum. Later, another user creates an referral code "Alice001" on another blockchain. Because Alice's referral code has the oldest TimeStamp, the protocol can change the owner of the referral code "Alice001" on the other blockchain to Alice.
UTP & URP
UTP: USD Trade Points
URP: USD Referral Points
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. You can contact us to directly set an invite code with a rebate of over 50% as an advanced invite code. Let's work together to build a fair trading community.
If you are interested, please fill in the Application Form. Our team will get in touch with you soon.
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