Vela Exchange offers a competitive referral program whereby you receive up to 10% of all your 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. Your Referral ID can be easily shared via Twitter, Telegram or simply copied and pasted anywhere you would like.
When the person you refer 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 your 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. On this page you will see a detailed breakdown of all your earned referral fees along with the list of all users that have connected using your ID.
The referral fees are paid out automatically as they accumulate in USD which can be withdrawn to USDC at any time, therefore no claiming process is necessary.
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.