Augmented Finance makes DeFi more accessible. Users are not only able to supply or borrow assets, but also become a referrer and earn great rewards by inviting new suppliers and borrowers to the Augmented Finance protocol!
A referrer receives a share of the referral incentives rewards based on the amount of assets supplied and borrowed by the new users attracted via his personal referral link.
How it works
The referral program will open on the day of the protocol launch.
A user registers as a referrer and claims a unique referral number.
A referrer distributes their unique referral link to invite new suppliers and borrowers to the protocol.
Referral rewards are accumulated and paid out periodically. The referral period length (N) is 100,000 blocks (~17 days).
Total referral value generated by all referrers in the referral period = Sum of the supplied and borrowed assets (dollar value) per block from the 1st to the 100,000th block of the referral period.
A referrer's reward = (Referral value generated by a referrer in the referral period / Total referral value generated by all referrers in the referral period) x Referral incentives for the referral period.
The referrer gets referral rewards for each newly registered supplier or borrower for up to 100,000 blocks (can be spread across two referral periods).
E.g. a referrer invited a new supplier on block 55,000 of the referral period 1 [blocks: 1-100,000]. The supplier is active from block 55,000 up until block 300,000. The referrer receives referral rewards for 45,000 blocks in the referral period 1 [1-100,000 blocks] and for 55,000 blocks in the referral period 2 [100,001-200,000 blocks]. I.e. the referrer gets rewards from block 55,000 till block 155,000. After that, the referral rewards for that referrer from that new supplier stop to be paid.
Let’s imagine that the new invited supplier provided an equivalent of $100,000 of assets from 55,000 to 155,000 blocks. The total amount of the referral value from 55,000 to 155,000 blocks was $1,000,000. So, the referrer will receive 10% ($100,000 / $1,000,000) of the 100,000 AGF tokens reserved for the referral incentives in the period from 55,000 to 155,000 blocks. The payout will occur in the following sequence: the first on block 100,000 and the second on block 200,000.
No Multi-Level Referral Incentives
A referrer receives the referral incentives only for the new suppliers and borrowers that came via his personal referral link. A referrer will not receive incentives for new suppliers and borrowers that came via referral links generated for his referrals.
There are 3,000,000 AGF tokens reserved for the referrers (including 1,000,000 for the token burners), out of the 100,000,000 AGF total supply. You can see the token distribution here.