With Bake’s referral program, everyone's a winner: You, as the referrer, your referred friends, who are benefiting from cash flow on their cryptocurrencies and Bake, which is also taking a small piece of the pie as commission.
How does it work?
Your referral reward is calculated by:
The commission Bake receive from your referral (Total Referred Commission)
The total number of friends you've referred to Bake (Referral Badges)
Your $10 bonus per successful referral (*T&Cs apply). For more information about this, please check this article.
*In some regions, bonus awards are currently not available since those bonuses have already been fully redeemed. Click here for more information.
Four Referral Progress Badges
Depending on how many friends you refer to Bake, you’ll unlock a new referral progress badge. Each category specifies how much of the Bake commission you are eligible to get. Please note, your friends need to have at least $50 allocated into eligible Bake products to be counted as a referral that is eligible for the reward calculation.
Payout
The reward is paid out every Monday, based on your referrals’ allocated assets and your referral progress badges. Reward payouts are in coins earned by your referred friend.
Example
Suppose you refer 10 friends who allocate a total of 100,000 DFI into staking. Based on 20% APY blockchain rewards and 15% commission, Bake receives 3,000 DFI in commission a year (100,000 * 20% * 15%). As a result, you receive 750 DFI in referral rewards every year (3,000 * 25%).
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Related article:Is the referral program open to anyone?