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Eligible referred traders receive a 4% fee discount, and you receive 10% of their eligible fees after discount. Both amounts are calculated on-chain for each fill, subject to separate volume caps.

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How it works

The code must be available to register. Registration and new bindings reject codes containing an active reserved substring, regardless of case. Spaces and punctuation are invalid. Later reserved-code changes leave existing bindings and accrued rewards intact. Your main account holds the link. Its sub-accounts share the link, registration threshold, and volume caps.

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What each side gets

Commission goes to the direct referrer only. There are no multi-level payouts.

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Volume and amount calculations

The registration and binding threshold uses cumulative trading volume across your main account and sub-accounts. It has no rolling time window. Referral caps measure eligible traded notional since binding, not fees paid or rewards received. Ordinary fills with zero fees or negative maker fees still use the caps. Referral exclusions do not remove trades from your cumulative platform volume. The discount and commission caps apply independently. If a fill crosses either cap, only its eligible portion receives that benefit. Amounts use increments of 0.000001 USDC. The post-discount fee is rounded first; commission is then calculated from the eligible share of that rounded fee. Exact half increments round up. A positive post-discount fee has a minimum of one increment; an exact zero remains zero. Small discounts or commissions can be zero after rounding.

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What does not count

  • Self-referral and loops. You cannot bind to your own code or create a referral cycle.
  • Trades between your own accounts. Neither side receives commission or uses referral volume caps. Eligible positive fees can still receive a discount.
  • Liquidations and auto-deleveraging. Liquidation- or ADL-generated order sides receive no commission and do not use referral volume caps. An ordinary counterparty’s order side follows the normal referral rules. Liquidation fees can still receive an eligible discount.
  • Vaults and protocol accounts. These accounts receive no discount or commission.
  • Zero fees and maker rebates. These fees remain unchanged and generate no referral commission.

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Claiming

Once your unclaimed referral balance reaches 1 USDC, a successful claim pays the full amount to your main account. An authorized agent can submit it for you. The destination remains your main account. The fee collector funds claims. If its balance cannot cover the claim, the operation is rejected without transferring rewards or advancing your claimed amount. You can try again later. Discounts reduce the trading fee collected on each fill. Referral commissions accrue separately until claimed.

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For developers

The C++ SDK’s referral client provides register_code, bind_referrer, and claim. Query balances with get_overview, invitees with get_invitees, claims with get_claims, and fills with get_fills. Each fill side with a nonzero discount or commission emits a DexReferralFeeEvent. To reconstruct a referrer’s unclaimed balance, combine commission events with referral bindings and claim history.