Whales Market is excited to announce the launch of our on-chain Referral Program for pre-market and OTC traders. Users can now earn up to 50% of trading fees by inviting friends to trade on Whales Market.
The Referral Program is fully on-chain, transparent, and available to all Whales Market users, from regular traders to KOLs and strategic partners.
To participate, users can visit the Whales Market app, navigate to the Earn section on the top bar and select Referral to start generating unique referral links.
Referral Rewards Structure
The total referral share percentage you receive is calculated using the following formula:
Total Referral Share % (Maximum 50%) = Base Ref % + Tier Bonus % + Stake Boost %
Base Ref % (Base Commission): The default base commission is 20% of the referred user's trading fees. This rate may vary depending on specific campaigns.
Tier Bonus % (Tiered Bonus): You will earn an additional commission percentage based on the total qualified referral volume within a single campaign.
- The highest tier reached will apply to the entire campaign volume.
- Volume resets with each new campaign.
Examples:
User A: Referral volume of $40k
- Total Commission: 20% (base) + 0% (bonus) = 20%.
- Total fees: $1,000.
- Referral earnings: $200.
User B: Referral volume of $150k
- Total Commission: 20% (base) + 10% (bonus) = 30%.
- Total fees: $3,750.
- Referral earnings: $1,125.
User C: Referral volume of $800k
- Total Commission: 20% (base) + 20% (bonus) = 40%.
- Total fees: $20,000.
- Referral earnings: $8,000.
Stake Boost %: Coming Soon. Users who stake $WHALES will receive an additional commission boost (up to 10%) on top of Base Ref % and Tier Bonus %. More details on staking thresholds and boost levels will be announced when staking goes live.
Rules & Payout
Qualified volume:
- Counted: Only the filled and settled portion of Buy, Sell, and Resell orders. Claimed collateral is also counted.
- Not counted: Canceled offers or orders from a pre-market that the platform decides to cancel.
Payout:
- The payout process is handled automatically by the smart contract.
- Commissions are paid per campaign, at the moment orders are settled during the settlement phase.
- The payout asset is the campaign listing’s fee asset (i.e., the campaign's collateral asset).
How to Get Started
Follow these steps to begin earning commissions:
Step 1: Go to the Whales Market app: https://whales.market/
Step 2: On the menu bar, navigate to the Earn section and select Referral.
Step 3: Connect your wallet to activate your referral link.
Step 4: Copy your unique referral link.
Step 5: Share this link to the wider community. When new users access the platform via your link, they will be bound to you, and you will begin earning commissions from their qualified trades.
Important Notes
- The referral program applies to OTC trades on any supported chain on Whales Market.
- Your referral link is unique and can be used for all campaigns.
- The binding rule operates on a first-touch logic: A user is permanently bound to the first referral link they click and connect their wallet with.
- Whales Market reserves the right to adjust the rules, commission rates, or structure of the Referral Program at any time to ensure fairness and operational efficiency.
FAQs
Q: What is the Whales Market Referral Program?
Whales Market Referral Program is a program that allows you to earn commissions (up to 50% of trading fees) by inviting new users to trade on the platform. When someone joins and trades using your unique link, you earn a share of their fees.
Q: How do I join the program?
Simply go to the Whales Market app, navigate to the Earn section on the top bar and click on Referral, connect your wallet to activate your referral code, copy and share your referral link.
Q: What are the conditions for claiming rewards?
Both the referrer and the referee must connect a wallet and link additional wallets depending on campaigns. The rewards are calculated based on the "Qualified Volume" generated by referees:
- Qualified volume includes: The filled and settled portion of Buy, Sell, and Resell orders, as well as claimed collateral.
- Qualified volume excludes: Canceled offers or any orders from a pre-market that the platform decides to cancel.
Q: How are the rewards distributed?
The payout process is automatic and handled directly by the smart contract. Your commission is distributed to you at the exact moment a referred user's order is settled during the settlement phase. The reward is paid in the campaign’s fee asset (i.e., the collateral asset for that market).
Q: How are the referral tiers and rewards structured?
Total reward share is calculated by a formula: Base Ref % + Tier Bonus % + Stake Boost %.
- Base Commission: You receive a default 20% of fees.
- Tier Bonus: You earn an additional bonus (+10% or +20%) based on your total referral volume per campaign.
- Stake Boost: An additional bonus for staking $WHALES will be available soon.