# MDEX Referral Program Rules

In order to make more users to enjoy MDEX platform rewards and achieve lower cost of decentralized transaction experience, MDEX launched its Referrals with Commission and Rebate System. All users can invite friends to join MDEX and earn rewards together in the process!

**Referral conditions**

1\. All MDEX users are eligible to refer friends through a personal and exclusive invitation link.

2\. MDEX new and old users can all become referees. Users who have already traded on MDEX can also be invited by others.

3\. Fill in the application form to become a MDEX influencer for a higher commission percentage and also increase the rebate rate for your friends.

[KOL Application Form ](https://forms.gle/U3KobZFyZ5Au4zRZ9)

4.Users can now apply to become KOL according to the number of MDX held in the wallet address instead of applying to MDEX team on the referral program page. The rebate ratio will automatically increase accordingly if the number of MDX in the wallet address increases. For more details, please check the rules on official website.

The relationship between the number of MDX held and rebate ratio is as follows:

| Number of MDX held | Percentage of rebates |
| ------------------ | --------------------- |
| 0 to 20000         | 15%                   |
| 20000 to 60000     | 20%                   |
| 60000 and above    | 25%                   |



How to apply to be an influencer with your MDX holdings?

&#x20;(1) Users can apply on MDEX’s Referral with Rewards page to become an influencer through MDX holdings. After the application is completed, the system will take a random snapshot of MDX holdings (the sum of wallet MDX balance and board lock pool pledged MDX) in the user's address in the next natural week.

(2) MDEX will take each natural week (Monday to Sunday) as a cycle and take a random snapshot of the address with MDX tokens. If the user's 7-day average daily position: a. meets the requirement, the user will automatically receive the corresponding commission.

b. does not meet the requirement, the user’s status will be automatically downgraded to the corresponding level (Note: downgrading will not affect the commission reward percentage given to the invitee).

(3) Users who have already obtained the referral commission before November 19, 2021 will not be affected.

(4) Users can receive the commission in 2 ways:

* fill out the influencer application form and wait for the official approval.
* if the applicant holds MDX in their wallet, they will receive the commission automatically. Influencers who are approved by the MDEX team cannot become influencers again by virtue of their positions.

**Referral Rebate Rules for Inviters**

Users can get a personal invitation link on the referral system page, and invite their friends by sharing this link. When your friends complete a specific transaction on MDEX and generate real transaction fees, the platform will reward the inviter with commissions.

The total amount of the commission reward = the transaction fee \* commission percentage of the inviter.

The default commission rate set by the platform is 15%.

The transaction fee = the transaction volume \* MDEX transaction commission rate (0.3%)

For example:

A invites B to join MDEX, A's commission rate is 15%, and the rebate rate set by A for B is 10%.

B completed a transaction, the fee for that transaction is $10, then

A gets a rebate reward = 10 \* (15% - 10%) = $0.5

Rebate reward received by B = 10\*10% = $1.

The following table shows the percentage of rebates for different inviter types and the range of rebate percentages they can set for the invitee:

| **Type**           | **Inviter's commission rate** | **Invitee's rebate rate** |
| ------------------ | ----------------------------- | ------------------------- |
| MDEX Ordinary User | 15%                           | 0%, 5%, 10%               |
| MDEX Influencer    | 20%                           | 0%, 5%, 10%, 15%          |
|                    | 25%                           | 0%, 5%, 10%, 15%, 20%     |

Note: After an influencer fills out the application form, the rebate ratio will be set by MDEX after reviewing their comprehensive situation.

**Referral Rewards Rules for Invitees**

Invitees that complete a specific transaction generate commission fees for the inviters, can obtain a certain percentage of rewards at the same time. The default rewards rate set by the platform is 0%. However the inviter can customize a percentage, keeping in mind the following rules:

1. The maximum rewards rate percentage should be at least 5% lower than the inviter's commission percentage. For example, if the inviter's commission rate is 20%, then the invitee's rewards rate can be set up to 15%.
2. The maximum rewards rate percentage for the invitee is 20%.

**Other details**

1.Not every transaction leads to rewards. The screening rules are as follows:

Mainstream token pairs with TVL of at least $1,000,000, or pairs with average daily trading volume of at least $100,000 in the previous month. These token pairs will be considered eligible for the referral system for this month.

The HECO transaction pairs that will participate in the referral system currently are as follows:

{% file src="https://2077148690-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MZ2IxeCguco8dlwzLo6-1068634537%2Fuploads%2FYq0TRC9OD3UpCMwBpEuL%2FMDEX%20HECO%20Referral%20System%20Trading%20Pairs.xls?alt=media&token=0ca13cd5-a1c5-48f7-8b5e-3153bfdc4f8f" %}

The BSC transaction pairs that will participate in the referral system currently are as follows:

{% file src="https://2077148690-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MZ2IxeCguco8dlwzLo6-1068634537%2Fuploads%2FyfoMoZhayMEmQcwnmnFN%2FMDEX%20BSC%20Referral%20System%20Trading%20Pairs.xlsx?alt=media&token=f1ac506a-a9ca-4247-8b7f-e7560eb0e60b" %}

2.The rewards are paid in the form of MDX and is converted using the MDX 72-hour average price. Rebate/ reward (MDX) = {actual transaction volume ($) \* paid transaction fee rate \* rebate/ reward ratio} / MDX 72h average price.

3.All rewards are counted and settled at 24:00 (UTC+8) everyday.

4.The withdrawal is open before the 10th of each month, and the withdrawal amount is all the rewards of the previous calendar month.

**Note: MDEX's Referral Program aims to provide users with a lower-cost trading experience, and encourages users to conduct legitimate transactions and create referrals, so that users and their friends can earn rewards. The following violations include but are not limited to: wash trades or trades that display attributes of self-dealing, generating multiple addresses, inviting multiple identical IP addresses and other unethical behaviors will be subject to cancellation of users referral and rebates rewards.**

**MDEX reserves all rights to adjust the rules and proportion of the invitation rebate at any time according to market conditions.**

**The final interpretation of the referral system belongs to MDEX.**



**Q\&A**

1\. Referral system:

MDEX referrals system will be launched. On completion of a referral, the inviter and the invitee can get rewards respectively (the inviter and the invitee jointly enjoy at least 15% of the transaction fee as their rewards; the inviter can also apply to the platform for a higher rewards percentage).

2\. Can the rebate rate be adjusted?

You are welcome to apply for a MDEX referral commission by being an MDEX influencer position to enjoy higher commission rewards. Fill out the application form and MDEX will increase your commission percentage after review and approval. Correspondingly, you can also increase the rewards percentage for your invitees.

3.Can the rewards rate be adjusted?

No, you cannot. Once the referral link is set up, it is permanent and the percentage of rewards cannot be changed. If the invitee wants a higher percentage, he/she can use a new address to trade, and the inviter will create a new invitation link (with a higher rewards percentage) to complete a new referral.

4\. Where do the funds for rewards come from?

All rewards will be provided from the MDEX fund pool (platform transaction fee income) and will not affect existing expenses in the Boardroom, repurchase and burning, etc.

5\. Are there any restrictions on referral campaign?

Yes. Not every transaction leads to rewards. The screening rules are as follows:

Mainstream token pairs with TVL of at least $1,000,000, or pairs with average daily trading volume of at least $100,000 in the previous month. These token pairs will be considered eligible for the referral system for this month.

6\. Is there a limit to the number of referees?

The referral link set by the inviter can be open to everyone, and there is no limit to the number of referees.

7\. What are the requirements for the withdrawal of commission and rebate rewards?

Rebate/ reward = {actual transaction volume ($) \* paid transaction fee rate \* rebate/ reward ratio}

The rewards are calculated at 0:00 (UTC+8 time) everyday.

Rewards are open for withdrawal before the 10th of each month, and the withdrawal amount is all the rewards of the previous calendar month.

8\. How to check your referees' information?

Check the number of invited users and rewards on your referral page - "referee details, rewards details". In the details column, the commission amount corresponds to the referrer’s rewards and the rewards amount corresponds to the referee’s rewards.

9\. How to calculate the rewards amount?

Since the referee's transaction volume is measured in USDT and the referral reward is MDX, the actual reward amount for the user will be calculated based on the MDX’s 72-hour average price.

Risks Warning:

Cryptocurrency is a high-risk investment product with high price fluctuations, so please bear the risks of transaction in your mind. As a decentralized exchange, the MDEX shall not undertake any guarantee or compensation liability for your transactions. Please fully understand digital assets and make rational investment decisions.

In addition, it is essential to carefully study DEFI and its platform operation instructions before participating in transactions such as token swaps, liquidity mining, Boardroom staking and other operations on MDEX. Also, please carefully check the operation instructions before you click “approve”, and understand the possible risks of DEFI and the possibility of potential asset losses. Keep an eye on the private key of your wallet at all times.
