Referral Program

Earn 20% of referred users’ taker fees for 90 days

How It Works

When someone signs up and trades using your referral link, you earn 20% of their taker fees for 90 days from the date they register the referral.

• Earnings are credited in USDC directly to your engine balance
• There is no cap on the number of users you can refer
• The 90-day window starts when the referred user calls POST /referral/register

Getting Your Referral Link

In the Vela dashboard, navigate to the Referrals section. Your referral URL is:

https://vela.monolithsystematic.com?ref={your_wallet_address}

Share this link. When a new user connects their wallet via this URL, the referral code is pre-filled in their registration flow.

Registering a Referral

A referred user registers the relationship by calling:

POST /referral/register

Request:

{
  "referred": "0xNewUserAddress",
  "referrer": "0xYourAddress",
  "nonce": 1713000000001,
  "signature": "0x..."
}

The signature message is vela:referral:{referred}:{referrer}:{nonce}, signed by the referred user.

Response:

{
  "ok": true,
  "data": {
    "referred": "0xNewUserAddress",
    "referrer": "0xYourAddress",
    "active_until": "2026-07-15T00:00:00Z"
  }
}

Viewing Your Earnings

GET /referral/:address

Response:

{
  "ok": true,
  "data": {
    "address": "0xYourAddress",
    "referral_code": "0xYourAddress",
    "referred_users": 3,
    "total_earnings_usdc": "142000",
    "active_referrals": [
      {
        "address": "0xReferredUser1",
        "active_until": "2026-07-15T00:00:00Z",
        "earned_usdc": "98000"
      }
    ]
  }
}

total_earnings_usdc is in fixed-point (divide by 1,000,000 for display).

Leaderboard

The trading leaderboard at /leaderboard ranks all traders by 30-day volume. High-volume referrals may drive significant leaderboard movement.

GET /leaderboard

{
  "ok": true,
  "data": [
    {
      "rank": 1,
      "address": "0x...",
      "volume_usdc": "4820000000",
      "pnl_usdc": "198000",
      "trades": 842
    }
  ]
}

Rules

• One referrer per user. A user can only have one referrer, and it cannot be changed after registration.
• Immutable once set. The referral relationship is recorded in the engine state and cannot be overridden.
• Self-referral not allowed. You cannot refer yourself.
• 90-day window. Earnings stop after 90 days from the referral registration date. The referred user remains a valid user; only the fee-sharing stops.
• Taker fees only. Rebates earned by the referred user as a maker do not affect your referral earnings. The split applies only to taker fees they pay.

Signing Referral Registration (Python)

from eth_account.messages import encode_defunct
from web3 import Web3

w3 = Web3()
account = w3.eth.account.from_key(REFERRED_USER_PRIVATE_KEY)

def sign_referral(referred: str, referrer: str, nonce: int) -> str:
    msg = f"vela:referral:{referred}:{referrer}:{nonce}"
    message = encode_defunct(text=msg)
    signed = account.sign_message(message)
    return signed.signature.hex()