Referral Program

Table of Contents

Referral Program Community Discussion

The idea of a referral program has been widely discussed in this ThreeFold forum post.

While there is a consensus from the community on having a referral program, the questions remaining are mostly on how to implement it efficiently.

This document will evolve as we gather input from the community and find the best way to go forward.

Referral Program Basic Vocabulary

We present the basic vocabulary concerning the concept of a referral program. The information comes from this reference.

  • Referral:
    • The act or process of transferring something to another, of sending by reference, or referring.
  • Referrer (Brand Advocate/ Ambassador):
    • a person who makes a referral/refers another (their friends, family and acquaintances).
  • Referee (Friend):
    • a person who is invited to a referral/ referred by another.
  • Referral Programs:
    • programs that are designed to specifically motivate the existing customers to help a business find new customers.
  • Viral Loop:
    • a mechanism that has users refer others to a product or service and then turns those referees into referrers through the same mechanism.
  • Rewards:
    • what participants in a referral program earn on successful completion of a referral.
  • Happy moment:
    • the time when a referrer is most likely to make a referral due to a recent happy experience while using your product or service.

The Proposition for the Referral Program

We share parts of the Proof-of-Utilization beneficiaries and discount for workloads to the referee and the referrer. This will encourage people to use the TF Grid and to talk about the TF Grid to their friends, etc.

The Proof-of-Utilization Potential

The following is the P-o-U current setup:

  • 50% goes to solution providers and sales channels*

  • 35% goes to TFT burning

  • 10% goes to the Threefold Foundation

  • 5% goes to the Validator Staking Pool

We thus have 50% available for solution providers and sales channels.

If the 50% isn't used for solution providers and sales channels, it goes to the Threefold DAO owned Community Grant Wallet.

Note: We need to adjust the future referral program with the new TFGrid 3.50 parameters

The General Process

  • The referee uses the referrer's link

  • The referee deploys on the TF Grid

  • At the end of the deployment, the TF DAO wallet sends half of the 50% to the referee and the other half to the referrer

The Basic Flow of the Referral Program

This flow is based on the current PoU model. We would need to adjust it with the new parameters in TFGrid 3.50.

  • Someone uses the TF Grid and deploys a workload

  • This is the "happy moment", as the TF user can see how amazing the Grid is

  • Threefold sends a message to invite the user to become a referrer.

  • Referral Message: "Did you enjoy deploying on TF Grid? If you want to, you can participe in our Threefold Referral Program, simply share this link [TF referral link, combined with the referrer's 3bot ID] to your friends."

  • The Referrer sends their link to a friend.

  • The friend is now a referee. The referee deploys on the TF Grid.

  • Once the deployment is done, the TF Grid knows the total amount of TFT used for this deployment

  • The TF DAO owned community Grant Wallet thus received 50% of the workload cost

  • The TF DAO wallet sends half of the "rewards" to the referee, and the other half to the referrer

  • The viral loop: the referee can easily become the referrer: they enjoyed deploying on the Grid, and they benefited from the referral program as a referee. They might want to also become a referrer.

Preventing Fraud

In order to avoid self-referral fraud, we could implement the following in the TF Referral Program:

  • there is a limit on referral rewards
    • e.g. 20$ worth of TFT maximum
  • to become a referrer, you need to have a proven history of using the TF Grid
    • Users can become a referrer after they spent X amount of $ (or TFT) on the TF Grid
    • Only accounts of a certain age can refer

Program Implementation

Referral Rewards

It should be discussed what will the rewards be. For example, they could be discounts to deploy on the grid, much like the actual workload discounts for wallets with great amount of TFT, or the rewards could also be in the form of TFTs.

Implementing on Chain

The referral program could be implemented directly in TFChain.

Program Parameters and Components

We present different parameters that could be integrated into the ThreeFold referral program.

Educational Content

Equip referrers with educational content about the project so they can effectively communicate its value to potential new members.

This content would be available on the TF Manual for a start. Videos could be done and shared on Youtube and other platforms.

Tiered Rewards System

Offer increasing rewards for referring multiple people. For instance, for the first 5 referrals, give x reward; for the next 10, give Z reward, and so on.

If the rewards are in discount workloads, it could be as:

  • First 5 referrals
    • 15% off workload discount
  • Next 10 referrals
    • 25% off workload discounts
  • And so on

Both Sides Benefit

Ensure that both the referrer and the referred get a benefit. This could be in the form of tokens, discounts on services, or early access to new features.

Milestone Bonuses

Offer extra rewards when referrers hit certain milestones, like 10, 50, or 100 successful referrals.

Leaderboard and Competitions

Create a monthly or quarterly leaderboard showcasing top referrers. Offer significant rewards for top performers to foster a competitive spirit…

Customized Referral Links

Provide users with unique, customizable referral links so they can track their referrals and conversions.

Engage with Micro Influencers

Encourage micro influencers in the crypto and tech space to join the referral program. Their reach could be beneficial in bringing in a knowledgeable audience.

Referral Analytics

Allow users to track the status of their referrals, see who signed up, and check their reward status.

Clear Terms and Conditions

Ensure the rules are transparent, regarding how and when rewards are distributed. this helps build trust in the program.

Integration with Social Media

Allow easy sharing of referral links on social media platforms with pre made templates or messages highlighting the benefits of joining.

Special Badges or Recognition

Offer digital badges or some form of recognition that users can display on their profiles, showcasing their contribution to community growth.

Feedback Loop

Encourage participants to provide feedback on the referral program, allowing for continuous improvement.

Leverage Existing Community

Engage with our current community members and ask them to bring in people they believe would benefit from the project.

Affiliate Partnerships

Consider partnering with relevant platforms or services for an affiliate program, where these partners can earn a commission or benefit for every user they bring in.

Promotion and Launch

Consider having a launch event or promotional period for the referral program, offering extra benefits or bonuses for a limited time to kickstart participation.