Get fee discounts and earn rebates through the GMX referral program.
To create a referral code:
- Click on the Affiliates tab
- Create a referral code using any combination of letters, numbers and underscores
Note that referral codes are case sensitive and that your code must be created on both Arbitrum as well as Avalanche to earn rebates on both networks.
Once you've created your code, click on the copy icon next to the code to get your referral link, it should look something like this: https://gmx.io/#/?ref=<your code>.
You can share this link on any platform, e.g. Twitter, Telegram. When a user clicks on your link, your referral code would be stored with the user's account. When the user makes a trade they would receive a discount and you would earn rebates from their trading fees. You will continue to earn rebates even if the user uses another device later on as the referral code is stored on the contract the first time the user makes a trade.
The discounts and rebates will be distributed as ETH on Arbitrum and AVAX on Avalanche every Wednesday, your rebates history will be viewable on https://app.gmx.io/#/referrals.
Note that the referral program is subject to change as it is determined by the token holders of GMX. Full referral terms at https://gmx.io/#/referral-terms.
The referral program has a tier system to prevent gaming through self-referrals, this helps to ensure that referrers receive the rebates for the users they brought onto the platform.
- Tier 1: 5% discount for traders, 5% rebates to referrer
- Tier 2: 10% discount for traders, 10% rebates to referrer
- Tier 3: 10% discount for traders, 15% rebates to referrer paid in ETH / AVAX, 5% rebates to referrer paid in esGMX
Anyone can create a Tier 1 code. To upgrade your code to Tier 2 or Tier 3:
- Tier 2: At least 15 active users using your referral codes per week and a combined weekly volume above $5 million
- Tier 3: At least 30 active users using your referral codes per week and a combined weekly volume above $25 million
Rebates and discounts apply on the opening and closing fees for leverage trading.
The opening and closing fees are 0.1% on GMX, there is no price impact for trades and zero spread for tokens like BTC and ETH, rebates are calculated before user discounts so referrers earn on the full maker fee and from what would otherwise be spread on other exchanges. As a result, referrers would earn equivalent amounts of rebates per volume on GMX when compared to other referral programs.
Note that there is a cap of 5000 esGMX distributed per week. If the price of GMX is $30 the full 5% bonus can be paid for total Tier 3 referral volumes up to $3 billion per week. esGMX tokens distributed for this program will not require GMX or GLP to vest, the vault to vest the tokens will be available towards the end of Q1 2023.
The price of esGMX will be based on the 7 day TWAP of GMX.
Wallet providers and other protocols will be eligible for Tier 2 and Tier 3 rewards as well.