Traditionally, exchanges give you a one-time referral bonus in terms of tokens or fiat when your invitee makes their first minimum trade, another method would be a commission on your invitee’s trading.
What is the common trait between these current methods of exchange reward systems? They are single-tiered reward systems. However, benefits of single-tiered reward systems are often restricted to a single individual’s resources or reach. This also indicates that there will be a cap to the rewards a referrer could be receiving.
Above is a research showing the amount of transaction fees being generated in the top 10 exchanges. Binance generates as much as USD$3 million in fees a day, reaching more than USD$1 billion per year.
Amplifying the Network Effect
Here at WOWX, we engineered a new rewarding system that allows a network of traders to benefit from each other’s trades. Firstly, WOWX will commit a percentage of revenue taken from trading fees to incentivise users to invite other traders to trade on the platform.
Registered WOWX users will receive an invitation bonus for every new user they invited through their personal unique referral code. This invitation bonus includes a portion of the trading fee accrued by the invitee.
In addition to the single tier referrals, we have included a second tier of referrals which will include a smaller bonus from invitee’s own pool of invitations. Putting that into perspective, if you have invited 50 people onto the platform and they each invited another 50, you potentially have a total of 2500 referral bonuses. Thus, creating a ripple network effect which could lead to huge bonuses without much effort. In a billion dollar market, the potential is exponential.
Referral bonus will be paid out in the same cryptocurrency in which the transaction fee was paid in, in proportion to a user account level ranging from 50% to 100% of the intended bonus.
At different card levels, your referral fees are given out at different percentages.
Referral bonus will be applicable to all transaction fees paid for 6 months from the date of the user account creation, paid out on a monthly basis.
With our distributed transaction rewards, WOWX makes sure to place you and your fellow friends at heart. Boundless opportunities for you to earn more tokens by trading on WOWX!
