First Thoughts on the YapBay Trader Referral Program

We’re considering a trader referral program as our primary vector for rewarding community members who introduce new ad creators to YapBay. We’re soliciting your feedback on this.

How It Works

Refer traders and earn 50% of their fees.

Only the maker side of the transaction (ad creator) is elegible to provide referral rewards. You are still indirectly incentivized to bring takers as well, since if we have only traders then few trades will actually take place.

As the program evolves, we may reward both sides. Once we find a suitable program configuration, the program will move on-chain and payments will be immediate as part of escrow finalization for individual trades.

The program will likely also become multi-level in the future, perhaps to 3 levels deep.

Requirements

• An active YapBay account (maximum one). Active here means that you must make at least one trade of your own from your own ad per quarter totaling $500 USD or more in volume.
• You and your referred traders must maintain 95% or better feedback. Any referred traders that fall below 95% may not be elegible for you to receive rewards from. If you fall below 95%, you will receive no rewards for that period. This requirement will become active once we enable feedback and once there is a critical mass of feedback actions on the network.
• We will likely request Civic KYC.
• Referred traders must not have previously had a YapBay account in order to be included in your rewards. So, it’s important to get your traders into the system under you ASAP, once we launch the program.
• Referred traders must complete trades with at least 3 different counterparties per quarter to be eligible for referral rewards.

Terms

• All rewards are subject to local laws and regulations.
• Participants are responsible for their own tax obligations.
• Program terms can be modified with 30 days notice. Notice to be posted on x.com/YapBay_.
• Activity must comply with YapBay terms of service.
• No self-trading or wash trading allowed. When detected, the participating wallets will be banned from all referral programs.
• Payouts happen quarterly with 15-day delay (first working day on or after Jan 15, Apr 15, Jul 15, Oct 15) when you have accumulated 500 USD or more in rewards. (Sub-threshold earnings are rolled over.)
• Payouts are in USDC on Solana.
• Apply to participate. Only open in select countries.

Disqualification Criteria

• Fraudulent activity.
• Spamming of your referral link or any misuse of other platforms that involves your referral link.
• Gaming the system.
• False referrals.
• Violation of YapBay terms.

Revenue Scenarios

Small Network

Monthly volume: $10,000 Network fee (0.5%): $50/month Annual network revenue: $600 Referrer annual earnings: $300 (50% of $600) Note: Would take ~7 months to reach minimum $500 payout threshold

Medium Network

Monthly volume: $50,000 Network fee (0.5%): $250/month Annual network revenue: $3,000 Referrer annual earnings: $1,500 (50% of $3,000) Note: Reaches quarterly payout threshold in ~2.5 months

Large Network

Monthly volume: $200,000 Network fee (0.5%): $1,000/month Annual network revenue: $12,000 Referrer annual earnings: $6,000 (50% of $12,000) Note: Reaches quarterly payout threshold in ~3 weeks

Portfolio Example

If a referrer brings in:

• 2 small traders ($10k monthly each)
• 1 medium trader ($50k monthly)
• 1 large trader ($200k monthly)

Total monthly volume: $270,000 Monthly fee revenue: $1,350 Referrer monthly earnings: $675 Referrer annual earnings: $8,100