# Referrals

Ion Protocol's referral program lets users benefit from referring users who become active with the protocol by lending or borrowing.

{% hint style="info" %}
Before reading on about referrals, check out the [points](/ion-protocol/ion-points.md) section of the docs.
{% endhint %}

## The rules are simple:

1. Anyone can mint a referral code after earning 240 Ion Points.
2. Anyone who uses a referral link gets a referral link after earning 120 points.

Once a user has a referral code they can start increasing their Ion Points earning potential by referring more users.

| Number of Referred | % Increase in Collateral |
| ------------------ | ------------------------ |
| 1                  | 1.5%                     |
| 5                  | 3%                       |
| 10                 | 8%                       |
| 15                 | 10%                      |
| 20                 | 12%                      |
| 25                 | 15%                      |
| 30                 | 20%                      |
| 50-100             | 25%                      |
| 100+               | 30%                      |

## Referral math for borrowers:

$$
hours Borrowing\*(debtValue\*exchangeRate(1 + (percentIncrease / 100)))
$$

## For lenders:

$$
hoursLending\*(depositValue\*exchangeRate \*(1 + (percentIncrease / 100)))
$$


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