Program Overview
The Primex Referral Program is designed to attract Lenders, Farmers, and Traders to the protocol, enhancing trading volume and Total Value Locked (TVL). This program is integrated with the Incentivized Liquidity Mining Program and uses Points to measure the activity of referees.
The referrer-referee relationship is stored on-chain via smart contracts, ensuring transparency and immutability. Referrers earn rewards proportional to the Points their referees generate, while referees enjoy bonuses on their earned Points. The system incentivizes active participation and provides substantial benefits for both parties.
Benefits for Referrers
Referrers can enjoy several advantages by participating in the Referral Program:
Earnings: Referrers receive up to 30% of the protocol fees generated by their referees, distributed proportionally to the Points earned by those referees.
Transparency: All referral data is accessible via the Referral Page, where referrers can monitor the Points their referees earn and track their rewards.
Legacy Connections: Existing referrer-referee connections from the previous Referral Program remain valid, ensuring continuity.
Rewards are distributed monthly through Sablier, a token distribution platform. This enables referrers to easily view their earnings and claim them directly to their wallets.
To learn how to become a Referral, please, see How to become a Referrer.
Benefits for Referees
Referees are incentivized to engage actively with Primex through:
Bonus Points: A 10% bonus on all Primex Points they earn during their activities on the platform.
Integration with Liquidity Mining: Their activities directly contribute to the overall Points calculation, enhance the reward pool size with protocol fees, providing benefits for the entire protocol.
How the Program Works
Each month, a reward pool is formed from 30% of the protocol fees collected during that period. The size of the reward pool is calculated as follows:
rewardPool = 30% × protocolFee × (refereePoints / allPoints)
Where:
protocolFee: The total protocol fees accumulated in a month.
refereePoints: The Points earned by all referees during the month.
allPoints: The Points earned by all Primex users during the month.
This reward pool is then distributed among referrers in proportion to the Points earned by their referees. To invite referees, referrers must use their unique referral links, which can be generated and managed via the Referral Page.
Example Calculation
Consider the following scenario:
A referrer invites five new referees, who collectively earn 50,000 Points during the month.
Referees from other users earn a total of 1,000,000 Points.
All users in the protocol generate 5,000,000 Points.
The protocol accumulates $100,000 in fees during the month.
The reward pool is calculated as:
rewardPool = 30% × $100,000 × (1,000,000 / 5,000,000) = $6,000
The referrer’s reward is:
referrerReward = $6,000 × (50,000 / 1,000,000) = $300
Important Notes
Legacy Connections: Referrer-referee connections from the previous Referral Program are preserved and will continue to generate rewards. However, new referral links must be obtained via the Referral dashboard.
How to Get Started
To participate in the Primex Referral Program:
Get a unique referral link on the Referral Page.
Share the link with potential referees and encourage them to sign the connection message and earn points in Primex reward programs.
Monitor referee activity and rewards through the Referral Page.
To become someone’s Referee and earn 10% bonus to all Primex Points you earn, you have to open the referral link you received as an invitation, connect your wallet and confirm your referral connection by signing a quick, cost-free message.
By leveraging the new Referral Program, you can contribute to Primex’s growth while earning attractive rewards.