👨👩👧👦Referral Program
Last updated
Last updated
Participants in our referral program who use a referral code will receive discounts on their trading fees. The discount percentage will be determined by their discount tier, which, in turn, is based on their accumulated Zeno Loyalty Credits ($ZLC) for the week.
Your Trading Discount tier is the highest between Weekly ZLC AND ZENO & esZENO Staked.
Below is a table that outlines the ZLC balance required for each tier and its associated discount rate:
The tier at which the referrer and the code user are placed in for rebates and discount respectively are determined based on the amount of ZLC accrued that week by the code users for rebates and by the user for trading fee discount.
Subsequently, the trading discount and rebate rates corresponding to these tiers are applied to the fees generated within that same week. This includes code users’ fees for rebates and the users’ own trading fees for discounts. The result of these calculations yields the total amount of m.USDC to be distributed to program participants. Payments are settled on a weekly basis, every Thursday at 00:00 UTC.
For a more detailed overview of the rebates and discount reimbursement schedule, please refer to the illustration below:
Example calculation 🧮
Let’s assume the case of Alice and calculate how much rebates and discount she should receive for week #1. Below are the statistics of Alice’s platform usage & her referral program details during week #1:
# of Active Users using her referral code: 20
Total trading volume on BTC & ETH from her code users (from opening trades only): $100,000,000
Alice’s total trading volume on BTC & ETH (from opening trades only): $2,000,000
Total weekly fees paid by Alice’s code users: $80,000
Total weekly fees paid by Alice: $1,600
Alice’s code users’ accrued ZLC: 4 * $100,000,000 = 400,000,000
Alice’s accrued ZLC: 4 * 2,000,000 = 8,000,000
For more information on ZLC is accrued, please visit here.
Based on the statistics above, Alice is placed in the following tiers for trading fee rebates & discount:
Rebates Tier: 2
Discount Tier: 3
Therefore, the total amount of rebates and discount claimable by Alice at the end of week #1 is:
Rebates: $80,000 * 10% = $8,000
Discount: $800 * 5% = $40
Total Claimable: $8,000 + $40 = $8,040
Please note that rebates and discounts are calculated based on the trading fees generated BEFORE any discount.
