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Overview

The 1st DEX uses a referrer-based fee system. Trading fees are collected by the protocol’s feeRecipient address, and a portion of these fees can be shared with referrers who bring traders to the platform. Every order (both maker and taker) can optionally specify a referrer address. If specified, the referrer receives a configurable percentage of the trading fees generated by that order.

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Fee distribution

When a trade occurs, fees are split between:
  1. Protocol fee recipient - The main protocol treasury (set at the BookManager level)
  2. Referrer - Optional address that receives a share of the fees (configurable per book/currency)
The referrer fee rate can be set by the protocol owner for each book and currency combination using setReferrerFeeRate on the BookManager.

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Using referrers

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Specifying a referrer

All order structs include a referrer parameter: 
// MAKE order with referrer
Controller.make(MakeOrderParams({
    id: bookId,
    tick: tick,
    quoteAmount: amount,
    referrer: referrerAddress  // Your referrer address
}), deadline);

// TAKE order with referrer
Controller.take(TakeOrderParams({
    id: bookId,
    limitPrice: price,
    quoteAmount: amount,
    maxBaseAmount: maxBase,
    referrer: referrerAddress  // Your referrer address
}), deadline);

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No referrer

If you don’t have a referrer, use address(0): 
referrer: address(0)  // or 0x0000000000000000000000000000000000000000
In this case, all fees go to the protocol fee recipient.

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Default referrer

The BookManager has a default referrer that is used when address(0) is passed as the referrer parameter. This ensures fees are always distributed appropriately even when no specific referrer is provided.

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Querying fee information

You can query referrer fee information using the subgraph: 
query ReferrerFees {
  referrers(orderBy: totalFeesCollectedUSD, orderDirection: desc) {
    id
    totalFeesCollectedUSD
    referralCount
    feesByToken {
      token {
        symbol
      }
      totalFees
      totalFeesUSD
    }
  }
}
See the Query subgraph guide for more examples.

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Becoming a referrer

To become a referrer, simply provide your address to traders. When they include your address in their orders’ referrer field, you’ll automatically receive a share of the fees generated by their trades. Track your earnings through the subgraph or by monitoring the ReferrerFeePaid events emitted by the BookManager.