Unraveling the PrivacySwap Referral System: Share, Refer, and Earn!
We know the joy of earning while you are just sitting on your couch, monitoring your PRVs, with a slice of pizza in your hand. But what if we tell you that you can add another layer of comfort to that? With the new PrivacySwap Referral System, the PRVArmy is incentivized whenever they bring in new mates aboard the trip to the moon!
After carefully crafting the whole program for the past couple of months, we finally launched the PrivacySwap Referral System last June. This article will give you the overview of what the system is all about, how you can participate, and how it can maximize your total gains.
How the Referral System works
The new referral system gives you an opportunity to maximize your rewards by giving you perpetual eligibility to get 1% harvest of your referees. Sounds cool right? Here’s the kicker- if your referee becomes a referrer, you will get an additional 0.5% from the harvest of that second-level referee. That’s 1.5% harvest rewards easy!
This referral or gained bonus is applicable to all PRV Farms and PRV Pools. Why don’t we include PrivacyVaults? Well, Vaults work differently from farms and pools. It’s very difficult to work on a referral around how the vaults are configured on the smart contract, without disrupting the fees in the current system. We may still explore this, but based on our research, it’s not feasible to inject a referral fee among the vaults.
What do we mean by “perpetual eligibility”?
This fancy word just means subsequent staking by your referee still adds to your potential earnings. Referrers will always earn 1% of whatever amount their referees harvest. For your further convenience, the 1% goes directly to your wallet. You don’t have to do anything. The smart contract does this automatically for you.
“But how about that 0.5% from the harvest of second-level referees? Does that mean I get a percentage harvest from their referrals too?” While that may be a ludicrous model, the reward is limited to 2 levels only. The maximum harvest reward is therefore, 1.5%. However, keep in mind that there is no limit on how many first-level referees you can bring onboard! That means, so long as you have numerous successful referrals, you can always maximize your rewards. And again, perpetual eligibility!
“Great! How do I start?”
Before you invite your friend for a cup of coffee to pitch this idea, it is important to know the Referral System steps. But trust us, it is so easy:
1. In your dashboard, under the main PrivacySwap page, you will see your referral link
2. Every PRVArmy (“referrer”) gets their own unique referral link
3. Simply copy the referral link and send it to your friends (“referee”)
4. Once the referee stakes via the referral link, you are officially entitled for the harvest rewards!
Keep in mind that referees must ensure they stake their tokens via the referral link you’ve sent. In the event that referees mistakenly stake outside of the referral link, you, as the referrer, will not get a reward.
To avoid this lost opportunity (and to save your friendship), make sure to guide your mate as they put on their first stake. In fact, that is one of the primary objectives of the Referral System: to make the onboarding of new stakers easy, secure, and meanwhile profitable to the referee. Everybody wins!
Addressing the elephant in the room: New stakers lose 1.5%?
One of the questions probably at the back of your mind is, how do we derive the 1.5% harvest rewards? Does this mean new stakers lose 1.5% of their harvest? Specifically, where will this referral cost come from, and will PRV be able to sustain the cost?
To answer these questions succinctly, we have to reiterate the source of the 1.5% harvest rewards. The percentage is derived from a user’s alone. This means that there’s no additional PRV being minted, hence it remains sustainable.
This does not mean that new stakers “lose” their 1.5% harvest per se. The referral system works on the idea that if referrers didn’t refer the referee, or didn’t introduce the project to them, they wouldn’t be on the platform and earning anything, anyway. Keep in mind that farms and pools have no deposit fee, so the return is still relatively high.
Plus, once your referee refers PRV to others, they are also entitled to perpetual eligibility to reap 1.5% harvest rewards too, so that offsets or at least mitigates everything. Therefore, 1.5% still makes perfect sense, right? Right!
With the PrivacySwap referral system, everybody wins!
Ultimately, we would like the PrivacySwap platform to grow and be the platform-of-choice for users to hold their tokens and earn while doing so. The ecosystem only thrives when new people realize the immense benefits and joyful rewards we have to offer.
People whom you refer through the referral system are more likely to refer others as well. Who doesn’t want an additional passive income, right? With their referral gains being reinvested, your referees’ investment portfolio grows, and thus, your harvest rewards grow as well.
In sum, the Referral System spells TEAM: Together, Everyone Achieves More!
P.S. If you’re curious to learn more, we are going live on Clubhouse on 14th July! Join us for the State of the PRV address here: https://bit.ly/2UuXFD0
We also meet monthly for an evening of learning through our DeFi class. Next one’s on 28th July. Join us by signing up here: https://mailchi.mp/20839881c4df/privacyswap