Referral Process

BetBTC's referral program is designed to incentivize user growth and active participation by rewarding existing users for successfully inviting new members to the platform. This program leverages a points-based system to allocate rewards from the Community Treasury, encouraging both the acquisition of new users and their active engagement in betting activities. Points System

Points System

1. Referral Points

• Successful Referral: A referral is deemed successful when the referred user completes their first transaction or places their first bet on the platform.

• Points Awarded: Each successful referral earns the referring user a predetermined number of points. For instance, 100 points might be awarded per successful referral.

2. Activity Points

• Betting Activity: Points are granted based on the total amount wagered by the referred user. For example, 1 point could be awarded for every $10 wagered in ckBTC.

• Liquidity Provision: Additional points are awarded based on the amount of ckBTC provided to liquidity pools by the referred users, enhancing the platform's financial ecosystem.

3. Bonus Points

• Milestone Referrals: Bonus points are awarded for reaching specific referral milestones, such as:

  • 2,500 points for the 50th referral.

  • 5,000 points for the 100th referral.

• High Activity Users: Extra points are granted to referred users who achieve certain activity thresholds, such as wagering or providing a total of $1000 ckBTC.

Rewards Distribution

Monthly Distribution

• Points Tally: Points are tallied at the end of each month, with rewards distributed accordingly.

• Reward Calculation: The total monthly reward pool from the Community Treasury is divided proportionally based on the points each user has accumulated.

• Transparency and Fairness: A public leaderboard will be available to display the top referrers and their points, ensuring transparency and fairness in the distribution process.

Example Breakdown

Assume a monthly reward pool of 1,000,000 Tokens and the following user activity:

• User A accumulates 1,650 points through referrals, betting activity, and milestones.

• User B gathers 650 points from referrals and liquidity provision.

• User C earns 140 points from minimal referrals and activity.

Rewards Calculation

• User A: (1,650 / 2,440 total points) * 1,000,000 Tokens = 676,229 Tokens

• User B: (650 / 2,440 total points) * 1,000,000 Tokens = 266,393 Tokens

• User C: (140 / 2,440 total points) * 1,000,000 Tokens = 57,377 Tokens

This comprehensive structure ensures that active and successful referrers are rewarded proportionately, fostering a vibrant and growing community on the BETBTC platform.