1. Event time
Start date: October 31, 2021
2. Referral rewards
1) After your referral completes the registration on WhaleFin with your invite code/link and meets certain criteria, you will start to earn commission. When your referral completes a trade, subscribes to WhaleFin Earn/Yield Boost, or gets a loan in a limited time, you will receive rewards according to your referral level and commission tier.
a. You will receive 8 USDⓢ for every qualified referral. A Qualified Referral is a user who completes the following: From June 30, 2022, and within 30 days of registering, the user 1) makes (or has already made before) a deposit of USDⓢ ≥ 50 via crypto purchase, blockchain transfer, or bank transfer; and 2) holds a total net asset of USDⓢ ≥ 50 for a total of (consecutive or not) ≥ 10 days after the USDⓢ ≥ 50 deposit.
b. You are able to earn commission on your referral's interest from any Earn (excluding Flexible Earn) or Yield Boost. 1st tier (direct referral); 2nd tier (second degree referral); 3rd tier (third degree referral). Earn products include Flexible Earn, Fixed Earn, Customizable Product, and Dual Currency.
c. You are able to earn commission on your referral's trading fees (Swap/Spot/Margin). 1st tier (direct referral); 2nd tier (second degree referral); 3rd tier (third degree referral). Trade products include Margin, Spot, and Execution trading.
d. You are able to earn commission on your referral's interest from any Loan. 1st tier (direct referral); 2nd tier (second degree referral); 3rd tier (third degree referral).
2) Point rules are as follows:
a. You will get 2,000 points for every referral who completes basic identity verification.
b. You will earn 1 point for 1 USD-equivalent trading fee from your direct referral. The points will be calculated daily (Note: Points for margin trading are calculated based on the margin trading volume). Trade products include Margin, Spot, and Execution trading.
c. You will get 1 point every time your direct referral earns 4 USD-equivalent interest from any Earn/Loan. The points will be calculated daily. Earn products include Flexible Earn, Fixed Earn, Customizable Product, and Dual Currency.
d. Newly and previously invited referrals are eligible.
3) Benefits are as follows:
a. Level 1 is eligible for 1st tier commission (10% from Earn + 10% from Loan + 30% from Trade);
b. Level 2 is eligible for 1st tier (11% from Earn + 11% from Loan + 32% from Trade) and 2nd tier commission (2.2% from Earn + 2.2% from Loan + 6.4% from Trade);
c. Level 3 is eligible for 1st tier (12% from Earn + 12% from Loan + 34% from Trade), 2nd tier (2.4% from Earn + 2.4% from Loan + 6.8% from Trade) and 3rd tier commission (0.48% from Earn + 0.48% from Loan + 1.36% from Trade).
3. Commission calculation
Commissions from referral's subscription to Flexible Earn, Fixed Earn, and Customizable Product are subject to the actual interest settled daily. Commissions from referral's transactions in Dual Currency are subject to the actual interest of redemption on maturity.
Commissions from referral's transactions in Loan are subject to the actual interest settled.
Commissions from referral's transactions in Trade are subject to the actual trading fee charged when the order is executed.
4. Commission settlement and collection
The USDⓢ reward will be distributed to your Wallet upon every qualified referral. Loan and Trade commissions will be distributed in real time, and Earn commissions will be calculated once daily. Your commission will start accruing the following day at 00:00 (UTC+8). WhaleFin will distribute the commission to your Wallet at 16:00 (UTC+8) the following day.
Commissions are distributed in corresponding currencies of Earn/Investment/Trade/Loan orders.
5. Commission validity
The effective period of second and third tier commission is based on that of their first tier commission. Each referral commission is effective for a period of 90 days, starting from the day your referral registers for a WhaleFin account. The bonus interest for your referred user will expire 30 days following the registration date.
a. If a user registers for a WhaleFin account through a referral code/link on 09/01/2020, the referrer will be eligible for the following rewards for 90 days from 09/01 to 11/29：
- 10% of the referral’s interest on WhaleFin Earn (except Flexible Earn) and Yield Boost
- 30% of the referral’s commission from their trading fees (Swap/Spot/Margin).
b. If a user registers for a WhaleFin account through a referral code/link on 09/01/2020, the referred user will be eligible to receive extra 10% of interest rewards for 30 days. For example, if a referred user subscribes to a 90-day BTC WhaleFin Earn:
- on 09/01, the user will receive extra 10% of interest rewards from 09/01 to 09/30
- on 09/05, the user will receive extra 10% of interest rewards from 09/5 to 09/30
- on 10/01, the user will not be eligible to receive extra 10% of interest rewards
1) Once the event is launched, the commission rules are only applicable for activities made by newly registered users. Previous activities are calculated based on previous commission rules. You can check your reward details under [Invite history] – [Reward history] on WhaleFin Web, or click [Today’s Commission] or [Invite History] on WhaleFin App.
2) If the user violates the risk management rules in the Referral Program, WhaleFin reserves the right to invalidate any and all referral commissions.
3) WhaleFin reserves the right to interpret the Terms and Conditions and to decide on any questions or disputes arising under these Terms and Conditions.