Referral Program

A referral mechanism is a system that incentivizes current users of a platform or service to invite new users to join. Typically, the current user is rewarded in some way for every new user they refer. The reward can be in the form of discounts, credits, or coins.

CrestsX also has a referral mechanism that rewards current users for inviting new users to join the platform. When a new user connects their wallet and completes their first trade, the current user who referred them will receive a reward token. The reward token is generated from the platform fee collected by CrestsX from the new user's trade. The type of token used in that trade will determine the reward token received by the current user.

The CrestsX referral program offers weekly rewards to users who refer new traders to the platform. There is no minimum trade amount required for the current user to receive their reward. However, if the referral reward exceeds 100 USD, the current user is obligated to trade to meet the minimum amount. The step-up calculating method is employed to determine this minimum amount. It should be noted that if the reward is less than 100 USD, no trade is required, and the current user still receives the reward in full.

If the referral reward exceeds 100 USD, the current user must trade an amount equal to or greater than the minimum to receive the full reward. If the minimum amount is not met, the current user will receive a reward proportionate to their trading amount and the required minimum amount.

In the CrestsX referral program, the maximum number of referral layers in which the current user may participate is three. The current user is designated as the first layer or layer 0. A newly referred user is classified as layer 1. If the newly referred user subsequently refers another user, that user will be designated as layer 2, and so on, up to a maximum of layer 3.

To help clarify the referral program, let's consider an example. When a new user trades USDT for BTC on CrestsX, they will be charged a platform fee in USDT, which will then be distributed to the current user who referred them as a reward. The amount of the reward depends on the total referral reward for that specific case, which can vary.

For instance, if the total referral reward is 80 USDT, the current user will receive the full amount without any requirements to trade. However, if the total referral reward is 100 USDT, the current user would need to trade at least 1/10 of that amount, which is 10 USDT, to receive the full reward.

If the current user trades 10 USDT or more, they will receive the full referral reward of 100 USDT. However, if they trade for less than 10 USDT, they will receive a proportionate reward based on their trading amount and a tenth of the total reward. For example, if the current user trades 5 USDT, they will receive a reward of 50 USDT, which is half of the total reward.

Please note that the referral program details outlined in this whitepaper are subject to change before the platform's launch. We are committed to creating a fair and competitive referral program for our users, and as such, we reserve the right to adjust the program's parameters as necessary. We will inform you of any changes and ensure that any modifications to the referral program are communicated clearly and transparently.