Referral System: How It Works
The Forkast referral system is a powerful tool for community growth and user acquisition. It incentivizes existing users (referrers) to bring new users (referrals) to the platform by offering tangible rewards to both parties.
This system benefits referrers, referrals, and the Forkast ecosystem by encouraging active participation and retention. You can find your referral stats on the Quests page.
A referral occurs when an existing user (Person A) invites a new user (Person B) to join Forkast using a personal sign-up link.
However, to ensure that the referral aligns with Forkast growth goals, additional conditions must be met for the referrer to earn rewards.
For Person A to earn referral rewards, Person B must become a successful referral by meeting the following criteria:
- Spending on the Platform
- Person B must deposit a minimum of $5 USDC on Forkast (e.g., by converting USDC to Platform Credits). Credit codes redemtion does not qualify.
Once Person B becomes a successful referral, both parties benefit as follows:
- For Person A (Referrer):
- Earns 10% of the trading fees generated by Person B for the next 6 months.
- Rewards are paid out in Platform Credits, which can be used for trading on the platform.
- For Person B (Referral):
- Receives a 25% discount on trading fees for the first 3 months after signing up.
- Incentivized Growth
- Encourages active user acquisition by rewarding existing users for bringing in new participants who contribute value to the platform.
- Dual Benefits
- Both the referrer and referral gain rewards, making the system mutually beneficial.
- Sustainability
- Rewards are tied to meaningful platform engagement (e.g., spending or staking), ensuring that incentives align with Forkast growth objectives.
- Simple Tracking
- Referrers can monitor their referrals and rewards directly in their Forkast dashboard.
- Person A invites Person B to Forkast using their personal referral link.
- Person B signs up and:
- Deposits and converts $10 USDC on the platform, meeting the successful referral threshold.
- Rewards:
- Person A earns 10% of Person B’s trading fees for the next 6 months.
- Person B enjoys a 25% trading fee discount for the first 3 months.
The Forkast referral system is designed to drive meaningful engagement while rewarding users for their efforts in expanding the community. By ensuring rewards are tied to platform activity, the system fosters sustainable growth and user retention.
