Q: How do I join the Cake DeFi referral program?
A: Joining the referral program is as easy as a piece of Cake! Everyone that has passed their KYC (Know Your Customer) on Cake DeFi and has a verified Cake DeFi account is eligible to participate in the referral program to earn additional rewards.
Just follow these easy steps:
- Simply click on the “Referral” tab from the main menu
- On the referral page, copy your referral invite link and / or referral code
- Share your copied personal referral link or referral code with your friends and ask them to include the link / code on the sign-up page
- Once they’ve registered for an account on Cake DeFi, and have made their first deposit, we will automatically send you the referral bonus, and you’ll start earning a percentage share of all the assets your friends hold on our platform.
Q: How much can I earn from my referees?
A: It’s quite simple. We calculate the Total Referred Assets and the total number of referees and unlocked badges to work out the referral bonus. The referral bonus itself has no limit.
Total Referred Assets
The maximum amount you can get as referral bonus (max. referral bonus) equates to 1% per annum on all the assets your friends hold on our platform. The current breakdown is as follows:
- Staking: 1% of all assets
- Lending: 1% of all assets
- Liquidity Mining: 1% of all assets
Four Referral Progress Badges
Depending on how many of your referrals have signed up to Cake DeFi, you’ll unlock a new referral progress badge.
- For 1 – 2 referees, you’ll earn 1 badge that will entitle you to 25% of the maximum referral bonus.
- For between 3 – 5 referees, you’ll earn 2 badges that will entitle you to 50% of the maximum referral bonus.
- For between 6 – 9 referees, you’ll earn 3 badges that will entitle you 75% of the maximum referral bonus.
- For 10 referees and above, you’ll earn all 4 badges that will entitle you to 100% of the maximum referral bonus.
Each category specifies how much of the 1% of the total referred assets you can get. Be aware that your friends need to have at least a balance of $50 on Cake DeFi to be counted as a referral that is eligible for the bonus calculation.
If you refer 10 friends that deposit 10 BTC into their Cake DeFi accounts and use a combination of products (Staking, Lending and Liquidity Mining), your maximum referral bonus would be 1% of 10 BTC — that’s 0.01 BTC.
Since you referred 10 people, you are eligible for 100% of the maximum referral bonus, which is 0.1 BTC.
If you had referred between 3 – 5 people, you would receive 50% of your maximum referral bonus, which would be 0.05 BTC.
You can find out more by clicking on https://blog.cakedefi.com/referral-program/
Q: How do I get paid and how often?
A: We pay out all accumulated referral bonuses on a weekly basis, which is usually transferred on Mondays.
The referral bonus will be paid to you in the same coins that your referee is earning from. E.G. If they have entered “BTC Lending” on Cake DeFi, your referee bonus will be paid to you in BTC.
Q: Is there a limit on how many referrals I can earn a bonus for?
A: No, we do not cap the total number of referees you bring to Cake DeFi. There is no limit to how many referrals you can do.
Q: What if my friend forgets to use the referral link / code — can I still get the bonus?
A: Unfortunately, if your friend doesn’t use the referral link / code you shared with him / her, we cannot credit a referral bonus to your account.
Please ensure when you share your referral code or link, you make it clear to your friend to input that link / code when they register for an account on Cake DeFi.
However, if you feel that a mistake has been made, please <send us a ticket - https://cake.zendesk.com/hc/en-us/requests/new >.
Q: Where can I find more information about the referral program?
A: Please visit our blog page or the dedicated <FAQ> to learn more about the referral program.
Q: How does Cake DeFi calculate my referral bonus?
A: Your referral bonus is calculated by:
- Checking the value of the assets your referee has deposited to their Cake DeFi account (also known as Total Referred Assets).
- Calculating the total number of referees that have used your link / code to sign up
The more people that sign up to Cake DeFi using your link / code, the more referral badges you will unlock.
<Learn more about Referral Badges here – https://blog.cakedefi.com/referral-program/ >
Q: What are Total Referred Assets?
A: Total Referred Assets are the total amount of digital assets that your referee has deposited into their Cake DeFi account. So if they have deposited 100 BTC, that would then be the Total Referred Assets.
Q: How can I keep track of my referrals?
A: Keeping track of your referees is simple. Just click “Referrals” on the main menu, and you’ll see all the referees that have used your link / code on the page.
Q: Can I upload my referral link / code onto my social media channels or on my website?
A: Yes, you can copy and paste your referral link and/or code and share directly with your network.
However, please note that Cake DeFi will void the qualification for any referral commissions of an account if any of below referral methods is used:
- Redirecting users from any third-party websites or social media accounts imitating Cake DeFi. This is includes, but is not limited to the following situations:
- Redirections from pages similar to Cakedefi.com or any other found to be impersonating Cake DeFi, or perceived to be an official domain with an excessive amount of Cake logos and / or other content
- Redirections from accounts attempting to imitate Cake DeFi’s social media accounts (Twitter, Facebook, Reddit, Instagram, etc)
- Redirections from URLs that are similar to the URL of Cake DeFi (www.cakedefi.com), such as www.cake.xxx.com
- Redirections from any unofficial third-party URLs
Posting your own Cake DeFi referral link as advertisements on search engines such as Google, Yahoo, Bing, Baidu, etc. will also constitute a breach and any referral will be voided.
Q: How long is a referral link valid for?
A: There is no expiration date for your referral link / code.
Q: Is there a minimum referral target?
A: No, there is no minimum referral target. You can bring on as many or as few friends as you’d like to Cake DeFi.
However, the more people you bring to Cake DeFi, the sweeter the bonus reward gets.
Q: Will my referees and I be eligible for the limited time promotion bonus?
A: For a limited time, Cake DeFi is running an additional sign-up promotion.
When your referee signs up for a Cake DeFi account using your referral link / code, and they make a minimum deposit of $50 or more (USD), you will receive a bonus of $10 worth of DFI and your referee will also receive an extra bonus of $30 worth of DFI.
These bonuses will be locked up for 180 days in the Cake DeFi Freezer program and will automatically yield staking returns during this time.
Please note in order to receive the bonus, you must:
- Make a single deposit bigger than $50.
- The deposit of $50 must be made in one transaction to receive the bonus.
- The amount must be $50 or more when it arrives at Cake DeFi. Please note and factor in the withdrawal fee of the exchange or wallet you are sending your coins from, as well as the price fluctuation of the coin.
- If the amount has arrived at Cake DeFi, and it is under $50 at that time, the bonus cannot be credited.
- If a referral is added after the bonus has already been credited, the bonus cannot be credited retrospectively.
Q: How long will Cake DeFi run this limited time promotion?
A: The promotion is expected to continue until July 2021, however this is a limited time only promotion and can be removed or extended by Cake DeFi at any time.