How to ReferRefer a friend and earn extra ₳DA, the 3% of the variable fee is split between ambassadors.
Why do we have a referral program?
We love Cardano and want to see it grow. Thats why we’ve decided to incentivise spreading the word. Refer your friends, family distant relatives or colleagues and earn extra rewards. Every quarter, roughly 18 epochs, we will distribute 3% of the viable fee amongst all ambassadors.
The guide below explains how you can refer.
Step 1: Stake your ADA at the Referralpool
At first you’ll have to stake your ADA at the Referralpool. Check the extensive guide on how to do that here.
Step 2: Entice people you know to join the Referralpool
This will hold the copy why you should entice your network to stake at the Referralpool. Reach out to your network, talk to your friends, online buddies, distant relatives or a stranger at the supermarket. Share with them the possibilities of Cardano and ADA. Or easier talk to the ADA community. If and when they’re ready to stake their ADA at the Referralpool you’ll have to fill the REFER form.
Step 3: Fill the REFER form
The REFER form is the first step to earning your ambassador rewards, do this before* your referral stakes their ADA at the pool. (If you do this after their delegation, we will have to verify your relationship through a transaction going between you and your referral). We do this to keep things honest and secure.
This form consists of 4 questions:
- Your Stake amount
- The Epoch since you joined the Referralpool
- Your Stake Address
- The exact amount your referral will delegate
All the information necessary you’ll find on adapools.org on the delegation tab.
*The reason we want the form filled before your referral delegates is because we prevent fraud or people to take advantage of the situation. We log the date and time when somebody joins our pool, and we log the date and time of the form entry. Our automated system will verify this for us. If you fill the form afterwards, it could have been filled by anyone, that’s why we require a transaction between both parties (it can be just 1 ADA) to verify the relationship.
All the data is anonymous we don’t know who you are, we just want to verify a relationship between you and your referral to keep things fair.
Step 4: Earn rewards
The normal rewards for delegation will follow the normal time period.
1. You delegated your stake during epoch 244
2. Your stake is included in the snapshot in epoch 245
3. In epoch 246 your stake will produce blocks
4. In epoch 247 your rewards are calculated and paid out at the end of that epoch
5. Every epoch following you’ll receive the normal delegation rewards
Our system analyses all the referrals in the pool and the entries of the form. To reduce workload we distribute the extra rewards of our ambassadors equally at the end of every month.
Your extra reward or the normal 3% margin is divided by all the ambassadors and the percentage of ADA referred by them.
What criteria do I have to fill
The minimum amount staked for you and a referral has to be at least 1000 ADA. That’s the only criteria, make sure you fill the form before your referral joins the pool!