Referral Codes allow users to earn rewards on trade volume from other traders that they introduce to trading on Yieldification!
Traders referring new users will earn a base reward of 0.05% of the collateral used for trading by the wallets that are using their referral code.
Up to an additional 0.05% of the collateral will also be earned based on the Leverage used by the trader using the referral code.
Reward amounts are calculated by taking the amount of collateral and leverage used by the traders that have entered a referral code and converting it into a $USD value. This $USD value is then summed up and converted into an amount of $YDF token to be claimed by the owner of the referral code when they perform a Sync.
Jane opens a Long Position with 1000 USDC collateral. The base referral reward of 0.05% will earn $0.50 USD in rewards.
Jane chooses to Leverage this position at the maximum of 100X. As this is the maximum leverage, the referrer will earn an addition 0.05% of the collateral, being another $0.50 USD.
Once Jane closes this position, the referrer will have $1 USD worth of rewards available. Given a $YDF token price of $0.025 , the referrer would be able to claim 40 $YDF tokens in rewards when they perform a Sync.