With Buffer now live on the Mainnet, we’re excited to roll out another key feature from our community growth roadmap — The Buffer Referral Program.
What is the Buffer Referral Program?
The Referral Program is an on-chain incentivized user onboarding tool that allows anyone to generate a referral link and share it with potential traders trying to onboard on the Buffer Platform.
Besides providing liquidity to the USDC vault, staking $BFR, or compounding your esBFR & MP, the referral program is a major avenue for earning #RealYield on Buffer by leveraging your network of traders.
The program is meant to incentivize the community to leverage their network to increase the number of Buffer users. Additionally, it adds inclusivity to the platform since you don’t have to be a pro-trader or a whale LP to benefit from being a part of the community. We have established a well-thought tier-based system to reward the most active members of the program.
When you enter the referral program, you automatically create a Tier 1 referral code. This code can be made by anyone entering the program.
Here are the parameters which once reached, level you up from tier 1 to tier 2, and subsequently to tier 3:
- To reach Tier 2: at least 15 active traders using your referral/week along with a combined volume of more than $5 Million.
- To reach Tier 3: at least 30 active traders using your referral/week and a combined volume of more than $15 Million.
Once your account fulfills the criteria for tier 2 and tier 3, you can fill out the form here, to request an upgrade: https://forms.gle/dF5tntoLBFUEk8WKA
Once filled, please open a ticket on the:
One of the main questions we expect you to ask is — where does the yield come from?
Staying true to the cash flow thesis, every bit of revenue shared with Buffer users is real yield, and the referral program rewards are no exception. Let’s see how?
- Trader Rewards:
For referrers of the program, the yield comes from the trades made by their referral network. If someone, a user uses your Referral Link to start trading on Buffer, you (the referer) receive a % from each trade of the referred person. Your referral tier determines the % of trader rebates you receive on each trade your referees make.
It’s important to highlight that for a new user to count as part of your referral tree, they must onboard the Buffer platform via your Referral Link and must connect their wallet on the dApp for the first time. If a user who has already traded on Buffer clicks on any Referral Link, this user’s volume will not count towards the Buffer Referral Program. Referral rewards have nothing to do with how good your traders are at trading (how much they win or lose) and are purely calculated based on the open position sizes from everyone (referees) that uses your link.
- Payout boosts:
On the other hand, traders (the referee) who onboard the platform via a referral link to start trading on Buffer, will receive boosts on their payouts as rewards. Similar to referrer rewards, payout boosts received by the referees depend on their referral tier.
How to start referring?
Now that we’ve discussed the referral program’s earning potential let’s talk about how to get started. To participate in the referral program, first, you need to create a referral code. To do that, navigate to the Referral page.
Click on the Affiliates tab and enter any combination of letters, numbers, and underscores to create a referral code. Hit on “Create” and confirm the transaction.
Please note: Referral code is case sensitive
Once you’ve created your code, click on the ‘Copy’ icon next to it to get your referral link:
Once copied, you can share your referral link on any social media or communication platform. When a user clicks on your link, your referral code will be connected to their account.
When the user makes a trade, they would receive a boost on their payout based on their tier. And you will earn a % of the referee’s trade size based on your referral tier.
The referrer rewards will be distributed in USDC. You can view your rebates history in “Total Trading Volume” and “Total Referred Traders” on the Affiliate page.
If you want to execute a Trade using any Referral Code that you have been referred to, this is accessible through the following interface:
And if you still have questions regarding participation or referral yields or anything Buffer-related, the best place to solve those doubts and get more information is Buffer Discord — — the team is available 24/7 for support.