Introduction
Referral programs are an important way to attract new users to the product. Running a referral program on Tsunami Exchange motivates users to bring in new members, help them use the exchange, and get rewarded for it based on trading volume.
The Tsunami team aims to build long-term relationships with Waves ambassadors and content creators, helping each other to share experiences and expand the user base.
How does it work?
You've probably heard about the concept of referral system before, its principle is very simple and in Tsunami Exchange:
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The referrer, i.e. the inviting user must first register himself in the referral program.
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Referrer generates a unique referral link. The link is stored on the blockchain and is visible in the referrer's user interface.
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The link is transferred to the referral (invited user). It is stored in the referral's local vault.
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When the referrer performs the first transaction (`increasePosition`), with the link passed to the contract call, a link is formed between the referrer and the referrer.
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Then the referee starts to receive 20% of all the referral’s fees in $TSN tokens.
Contract
A separate contract is implemented for handling referral system. Contract implements the following methods:
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acceptPaymentWithLink - from AMM only - accepts payment with referral link;
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acceptPayment - from AMM only - accepts payment with referral only;
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createReferralLink - from anyone - creates new referral link and stores it on blockchain;
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claimRewards - user claims pending rewards from protocol in $TSN tokens.
UI
Referral link is passed in query parameters (parameter refLink=code).
Ref link is stored in subdomain cookie.
Ref code is passed to increasePosition contract method.
After the first call to `increasePosition` with the refLink parameter, the user is once by code bound to the referrer. After that, the user will not be able to change his referrer, regardless of the passed refLink parameter.
Conclusion
Let's summarize. As you can see, the principle of the referral program at Tsunami is very simple. All you have to do is register and start inviting referrals. By inviting new users, you help us develop, while earning income.