Referals on Chain
In the first iteration of the Libre wallet, a referral program was implemented tying every wallet to a “parent” wallet and rewarding users for spinning a wheel. This referral program was implemented as a multi-level plan, with the parent getting 50% of the reward, the grandparent 25% of the reward etc.. Libre chain has implemented this on chain, with a parent table which lists each account’s parent account (if one exists). This referral program can be used by Libre wallets to incentivize referrals (with grants from the DAO), but it also applies directly to staking When a user stakes X and earns a staking payment of X+Y, the parent gets y*20%, the grandparent, y*4% etc… This is in perpetuity and built into the chain.
Copy link