Introducing Invitation League
Top referrer shares 46.6% of the trading fees from the market they invite most friends and volume.
Our successful Referral Program launched two weeks ago saw existing community and new members earning rewards for every new user they invited to use OpenLeverage. More than 700 community members invited over 3,500 of their friends to check out OpenLeverage’s permissionless margin trading protocol. These new members contributed to the growth of our community, which is currently edging near $11 million in trading volume, with TVL surpassing $3.5 million in over 11,000 total trades.
Today, we introduce the Invitation League to emphasize our community-driven principle and drive the successful Referral Program even further.
The Invitation League will rank referrers within each market based on a referral score that represents their friends’ lending and trading volume. 46.6% of the trading fees will be distributed to the top referrer at the end of each epoch. Each epoch will last 21 calendar days. Award distribution will be in the tokens of the market pair.
For example, if the BNB/BUSD market accumulated fees of $5000 worth of tokens in an epoch, $2330 worth of BNB and BUSD will be distributed to the top referrer’s address.
*Please note that previous announcements about 20% transaction fees to be shared with the market creator will no longer be valid.
First Epoch
The first epoch will start on March 8th @ 12:00 UTC and end on March 29 @ 12:00 UTC.
Retroactive Rewards to Top Referrers
As of March 8, 12:00 UTC, OpenLeverage has accumulated $9,736,964.24 in trading volume on the BNB Chain and has generated $21,802 in fees.
We are distributing $6,000 worth of BNB to the top three referrers who have invited the highest trading and lending volume.
FAQ
1. How can I check my ranking?
On the “Margin Trade” and “Lend To Earn” pages of OpenLeverage, select any trading pair to see the Referral Ranking at the bottom for that trading pair.
2. Do all pairs have an Invitation League reward?
Yes, the Invitation League is independent of the trading pair and its corresponding lending pools.
3. How many addresses are rewarded for each epoch?
Only the highest referrer is awarded 46.6% of generated fees in each trading pair in the epoch.
4. Can one address receive Invitation League rewards from more than one market?
Yes. If that person is the top-ranking referrer for those trading pairs, they can receive rewards from multiple markets.
5. Will the Referral Program and Invitation League stack?
Participants can enroll in both programs simultaneously and receive awards if conditions are met.
