Incentive Tiers and Rewards
Rewards calculations and referral tier benefits.
The Kwenta Referral Program is governed and tracked by Boost NFTs which are minted by traders. Traders are given the opportunity to mint Boost NFTs by Kwenta Affiliates through following a referral link.
Boost NFTs
Boost NFTs come in 3 types: Bronze, Silver, and Gold. The tier of Boost NFT minted by the trader depends on the Referral Score of the Affiliate at the time of minting.
Boost NFT Tiers
Boost NFT Contract: oeth:0xD3B8876073949D790AB718CAD21d9326a3adA60f
Boost NFTs come in bronze, silver, and gold, however tiered rewards have now been deprecated. Though these legacy tiers may show a different color NFT, everyone now earns the same rewards.
Minting a Boost NFT
Boost NFTs are minted by following a referral link. Real Kwenta referral links should look similar to this one:
https://kwenta.eth.limo/market/?ref=kwenta
When following a referral link, simply connect the wallet with which you intend to trade, and follow the onscreen instructions. A confirmation will appear when your Boost NFT is successfully minted. You may also view your Boost NFT in Optimistic Etherscan or Opensea. For security, please ensure the contract matches the address above before performing any interaction.
Important Notes on the Boost NFT
Boost NFTs are soulbound, and each wallet may only contain one Boost NFT. Boost NFTs may not be transferred or upgraded at this time.
Although the Boost NFT itself does not change, all rewards associated with the Boost NFT may change via the KwentaDAO governance process.
Rewards Calculations
Rewards for both Traders and Affiliates are now part of a new program supported by the Optimism DAO. Traders earn rewards for following a referral link and minting a Boost NFT, while Affiliates earn rewards for referring new traders who do the same.
Here's how the new rewards system works:
Network: Optimism
Action Required:
Follow a referral link and mint a Boost NFT.
Refer a trader who follows your referral link and mints a Boost NFT.
Potential Rewards:
200,000 $OP distributed on a first-come, first-serve basis.
Program Details:
Rewards are distributed based on the trading fees paid by referred traders. Both traders and affiliates benefit from this structure.
Reward Distribution:
For each trader who mints a Boost NFT and pays fees, 30% of the fees are rebated to the trader, and 30% to the affiliate who referred them.
Example Calculation:
In this example, Tom is an affiliate who has referred Ily. Ily follows Tom's referral link, mints a Boost NFT, and pays $100 in trading fees.
Ily's Fees Paid: $100
Trader Rebate (Ily): 30% of $100 = $30
Affiliate Rebate (Tom): 30% of $100 = $30
At the end of the weekly epoch, Ily will earn $30, and Tom will earn $30, both in $OP tokens. The value of the $OP tokens will be calculated based on the market value at the time of distribution.
Epochs:
Weekly rewards epochs are ongoing and will be announced at the start of the program.
Reward Distribution:
OP rewards are claimable from the Rewards Dashboard at the conclusion of each weekly epoch.
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