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▶ Referral Program rules

Support Staff
  • Updated on

WOO X is excited to announce the Referral Program for all the users and new joiners. The Referral Program was designed using a new calculation method based on the trading volume from your referees and staking tier with more benefits. All users on WOO X can be a referrer, with referral code & link, there will be no referee number limitation for one referral code.

 

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  • Basic Rules

    1. Users will have a default referral code in the referral program and can create up to 19 additional referral codes. 
    2. When generating a new code users can customize referral codes or by clicking on the "Generate" button system will give the user a random code.
    3. When generating a new code, the referrer can set different ratios to split referee’s trading volume with each other:
          • Referrer: 100% / Referee: 0%
          • Referrer: 85% / Referee: 15%
          • Referrer: 75% / Referee: 25%
          • Referrer: 65% / Referee: 35%
          • Referrer: 50% / Referee: 50%
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    4. The relationship between referrer and referee will last for 1 year from the referee registration date. ( The relationship will be calculated from 2021/08/20 and last 1 year for the previous Referral Campaign )

  • Referral Rewards

    1. Commission calculation:
      • Referrer Rewards = referee's trading volume * split trading volume ratio * commission rate of referrer’s tier
      • Referee Rewards = referee's trading volume * split trading volume ratio * commission rate of referee’s tier
      • Calculation example: Jay referred to Morpheus, Jay is tier 5 and Morpheus is tier 3. Jay’s referral code for Morpheus is 50% vs 50% and Morpheus’ trading volume is 10,000 USDT. Then rewards for them will be:
        • Jay’s reward = 10,000 * 50% * 0.15 bps = 0.75
        • Morpheus’ reward = 10,000 * 50% * 0.1 bps = 0.5
          ( One basis point is equivalent to 0.01% )
    2. Commission rate is based on the referrer's staking tier.
      1. User’s tier will be calculated at 00:00 UTC every day.
      2. After 00:00 UTC, the referrer's commission rate will stay unchanged for the following day, even if the referrer's staking tier changes.
        (eg. Jay’s staking tier is tier 3 at 00:00 UTC, so he has the tier 3 commission rate. Then he unstake to tier 1 at 10:00 UTC, he still has tier 3 commission rate the following day, but at next day’s 00:00 UTC, his commission rate will renew to tier 1.)
    3. Commission Rules:
      1. All commissions will be distributed  to the user's spot wallet daily at 00:00 UTC, and this is the user's total commission from yesterday.
      2. Commission will be calculated by USDT and converted to WOO Token at the average market price per minute yesterday.
      3. Commissions come from WOO ecosystem reward.
    4. The referral commission rate for each tier:

Tier

Referral commission rate (bps)

Referral commission rate (%)

0

0

0

1

0.1

0.001%

2

0.1

0.001%

3

0.1

0.001%

4

0.15

0.0015%

5

0.15

0.0015%

6

0.2

 0.002%
  • Referee Benefits
      1. Conditions
        1. Only registering with a referral code can enjoy the benefits.
        2. A single deposit with >= 100 USDT valued assets on WOO X. (Price calculated with current market price on WOO X.)
      2. Benefit
        1. Enjoy 14 days 0 trading fee. (Both manual and API)
        2. Have split referral commission with referrer.

  • Other rules

    1. Referring to yourself will be banned from the referral campaign.
    2. Wash trades (i.e. trading against your own orders) and trades between stablecoin pairs will not count toward the trading volume.
    3. If the referee violates the Terms of Service or risk control rules of WOO X, the commission will not be distributed to the referrer.

For any changes, please refer to updates on WOO X. WOO X reserves all the rights of final interpretation.

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