Thales launches novel on-chain referral program
As Thales markets (UP and DOWN) and Ranged markets (IN and OUT) have matured as products, iterated with the Thales community, and reached over 2 millions USD in volume since their launch, it is now time to take things to the next level by starting the Thales referral campaign.
Let’s dive in.
Introducing Thales Referral Program
Thales Referral Program is an on-chain incentivized user acquisition and onboarding tool that allows anyone to generate a Referral Link and share it with potential traders they are trying to onboard.
If someone uses your Referral Link to start trading on Thales, you get a percentage from each trade of the person being referred, paid in sUSD (Synthetix USD) instantly and directly into your wallet (no need to claim, just share the link and accrue referral trading fees).
Yes, you read that right. No need to claim, making this referral program system a pretty novel and unique way of obtaining a benefit from others’ trading volume without having to wait for payouts to be delivered.
This way, everyone has a direct incentive to onboard as many new users to Thales as possible.
Sounds interesting, right?
Referral program details
As a person sharing your personal Referral Link, you’ll earn an equivalent of 50% of all the trading fees (or put into other words, 1% of the total volume) from each trade the new user you onboarded executes.
This percentage comes from the Minimal Skew Impact traders pay for AMM balancing purposes on the Thales marketplace.
It’s important to highlight that for a new user to count as such they must arrive to either Thales markets or Thales ranged markets via your Referral Link and for them to connect their wallet on these sites for the first time.
If someone who has already traded on Thales AMM clicks on any Referral Link, this users’ volume won’t count towards the Thales Referral Program.
Please make sure to understand this caveat if you are planning on sharing your Referral Link and participate into this program.
If you’ve already checked the Referral Program platform, you might’ve noticed there’s also a leaderboard.
At Thales, we love gamifying things and this case isn’t the exception, so we’ve introduced this leaderboard to both track the users who are most successful with this campaign and to have a way to add incentives on top of the earned fees.
To kick-start this Referral Program, in addition to the fees earned by the traders you refer to, there will be 20,000 OP tokens to be distributed, at Thales Council discretion, among those that make the top in the Affiliate Leaderboard.
So, when can I start referring people?
The moment you read this article it means this campaign is already live so you can start sharing your Referral Link, after obtaining it in the Thales Referral platform, right away. Please don’t forget to check the terms and conditions at the bottom of the page and abide by them.
If you have never used Thales before, this video walkthrough will get you up to speed in no time:
And if you still have questions, regarding Thales Referral Program or anything Thales-related, the best place to solve those doubts and get more information is the Thales Discord.
Thanks for your attention, happy referring!