Introducing Referral Program For Bonded Stablecoins
To increase awareness of the recently launched Bonded Stablecoins, we are introducing a referral program. The program rewards people for introducing new participants to try and use these stablecoins, that are some of the most technologically innovative in the cryptocurrency space.
It works like any other referral program: you get a referral link and share it over the various channels that are available to you:
- blogs;
- tweets;
- posts;
- newsletters;
- videos;
- public profiles;
- etc.
New users who click your link become your referrals. If they buy and hold stablecoins or other tokens, both you and your referral get rewarded every week:
- you get up to 10% of the referral’s balance;
- the referral gets up to 5% of their balance.
The rewards are paid once a week, on Sundays, based on the referral’s balance on that day. For the balance, we look at their balances in all tokens issued on Bonded Stablecoins website, as well as balances in other tokens based on them: shares in oswap liquidity pools and shares in arbitrage bots. Tokens deposited on governance Autonomous Agents, ODEX, bank AA, and liquidity mining are also accounted for. The idea is that the money should stay in the ecosystem in order to qualify for rewards. Redeeming or selling the tokens would decrease the balance and accordingly the rewards, buying new tokens would increase the rewards.
The total reward amount across all participants is capped by $3,000 per week. As long as it is below the cap, referrers and referrals get 10% and 5% respectively of the referral’s balance every week. If the total calculated from 10%/5% rewards exceeds the cap, all rewards are scaled down accordingly so that the total matches the cap. For example, if the total calculated based on 10% and 5% percentages is $6,000, all rewards are scaled down by a factor of 2, and the referrer gets 5% while the referral gets 2.5%.
All rewards are paid in IUSD — a stable+ coin that is pegged to USD + 16% interest. We’ll buy the necessary amount of IUSD using undistributed GBYTEs. According to bonding curve mechanics, this purchase would make room for buying GRD for the same amount by independent market participants, which would remove this amount of GBYTEs from free float.
The referral program is initially planned for 1 year. To protect the program from abuse, its parameters might be changed. If any user is found spamming their referral links thus making a bad name for us, that user will be removed from the program.
Note again two factors that make this referral program special:
- The rewards for each new referral are paid not once but repeatedly, every week, as long as the program runs. As a referrer, you are interested in your referrals staying in the ecosystem and even increasing their holdings.
- The referred is also rewarded along with the referrer. Make it clear to your potential referrals that by clicking your link they get a better deal.
To get your referral link, head to the referrals page on the updated Bonded Stablecoins website.
