Referrals

Claim a code

ReferrerRegister claims a code of 3 to 24 characters: lowercase letters, digits and dashes. The program stores it twice, under ["referrer", wallet] and ["refcode", code], so a code resolves to one wallet and a wallet to one code. A code that breaks the rules fails with InvalidCode; a taken one fails with AlreadyExists.

Link a wallet

A trader links to a code once with ReferralLink. The link is stored at ["reflink", wallet] and can't be changed for 365 days. A wallet can't link to its own code (SelfReferral).

What a referrer earns

While a trader's link is live, every swap they make credits the referrer referral_bps of the swap's protocol cut from block fees, the minimum fee and the burn's quote part. Recapture's protocol part is excluded. The credit lands in the referrer's claim ledger in the same instruction, with the tokens moved to the claims vault, and lifetime[referral] counts it.

The trader pays exactly the same with or without a link: the referrer is paid out of reel's cut. The rate is set by the admin in the config, at most 50% of the cut, and applies to future swaps.

Funded campaigns

Funded referral campaigns, paid in epochs from a Merkle root, run in reel-vaults' programs module: Deployed in reel-vaults (the programs module); it opens Nov 12, once its mainnet check passes. Everything above runs in the reel program.