Referrals
Vela Exchange offers a competitive referral program whereby users receive up to 10% of all their referred users generated fees that sign up using your referral ID. The referral fees are taken from the top, meaning before the users generated fees are divided based upon the Reward Flow Distribution. A user's Referral ID can be easily shared via Twitter, Telegram or simply copied and pasted anywhere you would like.
Fee Share
Refer your friends, family and followers in order to receive a percentage of their total fees paid on Vela Exchange! Standard user rebates start at 5%, which are paid out automatically as they accumulate in USD which can be withdrawn to USDC at any time, therefore no claiming process is necessary.
Referee Rebate
In addition to a standard referral kickback, Vela Exchange offers rebates, which are a percentage of the fees that a user generates. The starting rebate is 5%, which is determined by the referral code used to start a new account. Supporting your favorite influencers by using their referral codes will often increase the base rebate, making for a more rewarding and community building choice.
Rewards Modifiers
There are various way to increase rewards within the Vela ecosystem. Gaining a large following of active traders can lead to boosted rebates for referrals and an increased fee share for the user. If you believe that you might qualify for an advancement, please open a improvement ticket here.
Further, upcoming NFTs have been rumored to include referral modifying traits, but we'll have to wait and see...
New Account Setup
When the person a user refers first connects their wallet to the exchange they will see the following pop-up (if not using the referral link provided) which is where they can manually enter a referral ID.
Traders connecting their wallets for the first time that have clicked on a referral link are not required to enter a referral ID, as the platform should automatically grant referral credit.
The Referral page can be accessed from the top navigation bar by clicking the top right profile icon. On this page you will see a detailed breakdown of all earned referral fees along with the list of all users that have connected using the user ID.
Referral fees may change over time due to promotional periods, although it is on the roadmap to create a tiered system of referrals that is static.
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