2.2.5 - Staking Refer Bonus

Earn rewards for referring other users to stake.

Just as the SWAPP contract includes a referral program to incentivize users to help bring more ETH in during the auction phase, it also provides a referral program for staking.

When a user opens a new stake, the front-end interface checks whether the browser has a referral cookie, just as it does when making a token reservation in the Auction Phase Epoch. If such a cookie is present, AND the new stake is at least 365 days long, the contract tags this new stake with the referrer’s address.

A referred stake generates 10% extra shares for the staker (beyond what it would have if not referred) as well an equal (but without the 10% bonus) amount of “super INTR$T” (a.k.a. “Influencer Shares”) for the referrer. The system-wide pool of Influencer shares gets earmarked one quarter of the daily inflation SWAPP, but only for referrers that have qualified as Influencers.

To qualify as an Influencer, a user must have reached a total of $10,000 worth of referred stakes of 365+ days in length. If a user meets this condition, they are immediately and forever tagged as an Influencer, and cannot ever lose that distinction, regardless of if their referees close all their stakes.

Another way to qualify as an Influencer is to have referred 50 ETH of token reservations in the referral system of the auction phase. Users reaching that level are automatically pre-qualified as Influencers forever.

Calculating a new stake’s USD value is only done once, when the stake is opened. The SWAPP/USD exchange rate used for this calculation will be determined by querying the Uniswap SWAPP/ETH and ETH/DAI exchange pair contracts’ price oracle interfaces.