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There is no referral program. Nothing is built, no referral relationship can be registered, and no rebate is accruing. This page exists to say what is actually settled, which is very little.

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What is settled

One thing: referral rebates are funded out of collected trading fees. The protocol fee account that receives every trading fee lists a referral rebate pool among its outflows, alongside the liquidity vault and the insurance fund. That has a real consequence, and it is the reason it is worth stating on its own. A rebate paid from collected fees is bounded by fees actually collected — the program cannot pay out more than the activity it rewarded generated. It is a redistribution of revenue rather than an emission against future revenue, so there is no schedule to run out and no dilution to price in.

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What is not settled

Everything else:
  • The rebate share to the referrer, and whether the referee also gets a discount
  • How a referral relationship is established and recorded
  • Whether attribution is permanent or time-limited
  • Eligibility rules, and how self-referral and circular referral are excluded
  • Whether rebates settle to balance or must be claimed
  • How and when attribution is computed
The last one is not a detail. Whether a rebate is computed on-chain per fill, or off-chain over a window and committed back, determines what an integrator can rely on and what a user can verify. It is not decided, so this page does not describe it.
If you are building against a referral flow, there is nothing here to build against yet. Do not infer a design from how fee tiers work — the resemblance is plausible, not planned.

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The standard this page will meet

When the program is defined, it will be documented here before it starts accruing — not backdated, and not revealed after a period of activity it was quietly measuring. The launch is announced in the protocol changelog. The specific thing worth insisting on is whether a rebate can be recomputed from public data. Everything the protocol charges today — rates, tiers, rebates — derives from committed blocks and can be checked by anyone. A referral balance that exists only in a database is a different kind of object, and it will be labelled as one rather than presented next to numbers that are verifiable.

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Where to go next

Trading fees

Where fees go, including the referral pool.

Fee tiers

The rate reduction that is live today.

Points

The other reward program, and its status.

Protocol changelog

Where a launch would be announced.