To bring new people on board xExchange who are still in their bubble with a very small daily volume,
perhaps create a referral program with the MultiversX team who can spend a little funds in $XMEX energized to reward people who bring new people onto the exchange.
it will be great and will give the motivation to bring people back
this will move up in the xExchange ranking those who bring in the most people, a kind of referral competition system.
I’m not sure how it would be possible to determine the referral, since you don’t need to create a separate account on xExchange, you just send a transaction to one of the smart contracts every time you interact with the DEX. For example, you can interact with the swap function directly from xPortal without even knowing how xExchange looks like.
Hi @caviareggs, very interesting idea! What would be more precisely the terms of the referral program? If I bring 1 person, how much XMEX do I get? If I bring more?
@martzos good concern! What about taking into account the amount of XMEX acquired by the person brought in? E.g. if I bring in a person who acquires $100 of XMEX, I get $10 of XMEX, if this person acquires $1000 of XMEX, I get $20 of XMEX.
Objectives of the xExchange Referral Program:
- Community Growth: Attract new users to xExchange by incentivizing them to sign up and engage in transactions through an enticing referral system.
- Rewarding Loyalty Recognize our existing users for their ongoing commitment to xExchange by offering rewards in XMEX.
- Promoting XMEX: Showcase XMEX as the primary reward crypto to encourage its use and holding on the platform.
How the Referral Program Works:
- Registration: Every xExchange user can sign up for the referral program and receive a unique referral link.
- Invitation: Registered members are encouraged to invite their friends, family, or network to join xExchange using their referral link.
- Rewards: Referrers will receive XMEX rewards based on the activity of their referrals. These rewards will be based on the trading fees generated by the referrals.
Referral Program Rewards:
- 10% of the trading fees generated by referrals during the first 6 months.
- 5% of the monthly trading fees of referrals after the initial 6 months, as long as referrals remain active.
- Maybe Referrals will also receive XMEX bonuses on their initial transactions ?
Transparency and Tracking:
A dedicated dashboard for the referral program will be available for each user, where they can track the number of referrals, earned rewards, and transaction details.
We strongly believe that this referral program will be a significant asset for xExchange’s growth and the adoption of XMEX. Therefore, we seek your support and feedback to finalize and implement this governance proposal.
Please feel free to ask questions or share your insights on this initiative. Your input is crucial in making xExchange a major player in the world of cryptocurrency.
Thank you for your attention and dedication
Additional Innovations and Suggestions:
Parrainage Level Program: Implement a referral level system where active referrers can unlock extra benefits based on the number of referrals they bring in or the trading volume they generate.
Monthly Referral Contests: Organize monthly referral contests with XMEX prizes for the top-performing referrers, encouraging ongoing participation.
Crypto Education: Provide educational resources on cryptocurrencies to help new users better understand the platform and the crypto world.
Very interesting! Thanks @caviareggs for sharing all this! Are you proposing all this in additional to the idea “if I bring something and he acquires XMEX, then I get rewarded some XMEX”? Or is it an alternative proposition?
Exactly it will be an amazing function !