Referrals
The referral program is an on-chain program that lets individuals, partners and integrations earn rewards for referring traders and generating trading fees. More specifically, an account that refers trades can earn a share of those trading fees as rewards.
Rewards are tiered based on the account's staked LYRA balance and their verification status. Partners who verify themselves and stake LYRA tokens to establish long-term alignment with the DAO can unlock higher reward tiers. This promotes collaboration and mutual growth between Lyra and its partners.
Tier | Conditions | Fee Rewards | Trader Boost |
|---|---|---|---|
I | 0 stkLYRA | 10% | 1.1x |
II | 0 stkLYRA, verified | 20% | 1.2x |
III | 500k stkLYRA, verified | 35% | 1.2x |
IV | 1m stkLYRA, verified | 50% | 1.2x |
V | 5m stkLYRA, verified | 60% | 1.2x |
Follow these steps to create your own referral link:
- 1.
- 2.Connect the wallet address you want to publicly attach to your referral code.
- 3.
- 4.Once you create your code, e.g.
foobar, you'll receive a unique link, e.g. https://app.lyra.finance?ref=foobar. Once you create a referral code for a wallet address you can't modify or delete the code. - 5.Copy your link and share it with other traders.
- 6.When a trader opens a link with your referral code, your wallet address will be attributed to trades they make and you'll earn rewards for those trades.
When you refer a trader, you continue to earn rewards from their trades as long as they are an active user. If a trader becomes an inactive user and has no open positions for more than 40 days, you lose that referral.
The wallet address you use to create your code will be publicly visible on-chain for all referred trades. Make sure the wallet address you use for referrals is one you're comfortable sharing publicly.
Integrations and apps that drive volume through the Lyra Protocol can earn rewards for generated trading fees in the same way an individual who refers other traders can.
When a trader is referred via a referral link such as https://app.lyra.finance?ref=foobar, the code foobar is mapped to its wallet address and inserted into
OptionMarket.TradeInputParamters for a given trade.Integrations can hardcode their referral account address into every trade they make to accrue rewards. Referral addresses are passed on-chain as inputs via
OptionMarket.TradeInputParameters and tracked using the OptionMarket.Trade event's referrer field.To become a verified partner to earn boosted referral rewards, join our Discord and follow instructions provided in the #partner-verification channel.
The Grants Council is responsible for verifying partners and implementing a strategy for approving partners that best serves the DAO. The Grants Council is a service provider to the DAO responsible for funding community-driven public goods.
- Referral addresses are passed on-chain as inputs via
OptionMarket.TradeInputParametersand tracked using theOptionMarket.Tradeevent'sreferrerfield. - Referral links hosted at https://app.lyra.finance?ref=foobar attribute referrer addresses to trades using short codes like "foobar" to abstract the complexity of on-chain referrals away from referrers and traders. The app uses Spindl for code creation and attribution.
- Referral rewards are calculated off-chain and distributed via reward distribution contracts.
- Partner verification is maintained by the Grants DAO.
- Rewards are distributed in fortnightly epochs.
Last modified 1mo ago