Referrals
Refer someone to the Factory and you earn a slice of the Protocol fee on every bonding-curve trade they ever make. The trader pays the same 1.5% either way - referrals do not increase trading costs.
Referrals are recorded once per buyer, the first time they trade with a referral attached. The graph is two levels deep:
- Direct referrer - the address the buyer arrived through on their first qualifying trade.
- Indirect referrer - the direct referrer's own direct referrer, if any.
Each level earns a share of the buyer's future trading fees on every subsequent buy and sell, indefinitely. The buyer is tagged forever; the relationship cannot be transferred or replaced.
How the Split Works
The trading fee is 1.5%, fixed regardless of whether a referral is in play. What changes is where that 1.5% goes.
- No referrer - the full Protocol fee stays with the Protocol.
- Direct referrer - the direct referrer takes 10% of the Protocol fee.
- Direct + indirect - the direct referrer still takes 10% of the Protocol fee, and the indirect referrer takes 10% of the direct referrer's slice (so 1% of the Protocol fee).
The Protocol keeps whatever is left after the referral slices.
| Configuration | Direct gets | Indirect gets | Protocol keeps |
|---|---|---|---|
| No referrer | - | - | 100% |
| Direct only | 10% | - | 90% |
| Direct + indirect | 10% | 1% (10% of direct) | ~89% |
Claiming
Referrer balances accrue in WETH, on a per-token basis. So if you're earning across 30 tokens, that's 30 independent balances waiting to be claimed. Each can be claimed individually.
To keep dust manageable, each (token, referrer) pair can have a minimum-claim threshold set by the protocol admin. Claims below the threshold revert until they accumulate past it.
Reading Current State
The frontend at factory.cyphereth.com surfaces your referrer relationship, your pending rewards per token, and one-click claim. The AI tools surface the same info programmatically - "show my referral earnings", "claim my referral rewards on MOON".