How it works
The Referrals page is located in the Rewards section on IDEX. Each wallet generates a unique referral code as soon as it is connected to IDEX.
You can refer a friend in two ways: With providing them with your unique referral URL or by providing them with your unique referral code which can be entered manually on the Referrals page
Both the referral URL and code can be found on the Referrals page.
Once a referred user begins trading, you will start to earn referral commission on the protocol fees generated by the user, which is set to 80% for a limited amount of time. The referred user will in exchange receive a 5% discount on trading fees.
Additionally, there is a 5% correction factor that accounts for slippage on fees collected in non-stable assets (this factor was calculated by analyzing historical trade and fee data). This 5% factor is applied to referral commission (i.e. an 80% commission rate will net 76% commission after the application of the correction factor). This ensures that the protocol does not suffer losses due to price movements of the underlying assets.
A referred user generates $10 worth of trading fees at a commission rate of 80%, the referred user generated $8 of referral fees as the referrer, you receive $7.60 ($8 * 0.95) paid in USDC.
Referral commissions can be claimed at any time using the Referrals page.
Please note that pool trades generate a 0.05% protocol fee. While the taker pays a 0.25% fee, 80% of that fee goes to the LPs of the pool. Referral rebates on pooled trades result in a 80% rebate on the 0.05% collected by the protocol. Please see the fee schedule for more information