👥Referrals

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

Before reading on about referrals, check out the points section of the docs.

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:

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