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Note: The referral system described below is not live yet. It is scheduled to go live in early January 2026. In addition to USDC rewards, referrers earn 1st points based on the trading activity of users they refer. Referral points are calculated automatically from settled trades and credited to the referrer’s account.

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How referral points are calculated

When a referred user earns points from trading:
  • For every 4 points earned by the referred user
  • The referrer earns 1 point
This applies to points earned from both buy and sell trades by the referred user. Season multipliers apply based on when the trade is executed. Referral points are calculated independently for each referrer–referred relationship.

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What referral points are not

  • Referral points do not affect USDC referral rewards
  • Referral points do not compound further
  • Referral points do not grant ownership, governance, or economic rights
They are tracked in the same points system as trading-earned points and follow the same seasonal structure.

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Important notes

  • Referral points are earned only from executed and settled trades
  • Liquidity provision and market making do not generate referral points
  • Points are credited automatically after settlement