[RFC] Introduce a referral program to hashflow

Governance
1

Please use this template to structure your proposals for Hashflow.

Proposal Structure

  • Title: [DRAFT] Introduce a referral program
  • Author(s): moon998
  • Related Discussions:
  • Submission Date: 6 Jan 2023

Body paragraph:

  • Simple Summary: Introduce a referral program to increase the popularity of hashflow

  • Motivation: To increase the popularity of hashflow, there are still many people who have not heard of hashflow, it is time to do more marketing activities。

  • Specification & Rationale: The referrer can introduce other people to use hashflow then bind the referrer’s account, and the referrer can get an extra 20% of the HFT earned by the referee.

    -For example, the referee earned 1000HFT, then the referrer can get 200HFT.

    The monthly protocol incentive will increases by about 100,000HFT (extra 20% of trading reward+LP reward), this extra HFT is very cost-effective compared to the marketing effect brought by this plan.

  • Benefits (Advantages): It can increase the popularity of hashflow and bring more users

  • Disadvantage (disadvantage): Adds a negligible amount of selling pressure

  • Polls:
    -“yes” for implement it
    -“no” for reject

2 Likes
2

Good idea however the exact details and plans should be discussed to be able use it effectively

3

In general, this is an intriguing concept: I’m on board with this, but I’d also like to see you challenge yourself to think outside the box and propose new models and approaches to referral programmes (compare their advantages and disadvantages). Specify more information if possible.

4

I would personally like to see the vesting period for the rewards. For example, 6 months or 1 year but the reward would automatically give the extra voting power just like a normal locked token.
This is the solution implemented by Popcornado finance and everyone is OK with that.
It could also help with the additional selling pressure.

5

No I disagree with it you will add more selling pressure and giving free tokens to people join if you want people join foucs on the product and people will come

8

if you have any good ideas , feel free to share it

9

Effective referral programs are notoriously hard to implement in web3, due to Sybil attack surface. I’d love to hear more on the technical specs here.

10

@moon998 Hi would you be able to add more thoughts on potential technical specs here to prevent sybil attacks, before i close this topic?

11

I dont think we should worry about sybil atttacks.

for example:user A referred user B and then user B earned 1000 HFT, user A will get 200 HFT referral rewards.

then user B referred user C , then user C earned 1000 HFT ,only user B can get this 200 HFT referral rewards not user A.

but it possible that one user with 2 wallet,and he user wallet A to referral wallet B, and then only do trades on wallet B, so wallet A can earn 20% extra rewards, but maybe we can find something to prevent this.

12

This topic needs some full research before propose it here , I think you should close the topic for now while we continue to researching the idea!