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πŸ’Œ YSL.IO Referral Program
YSL.IO platform users that share or connect to YSL.IO via a Referral Link will be rewarded!
The YSL.IO referral program is a single-tier program that will come into effect once the platform launches. Any new user that connects through a Referral Link will benefit from an extra 5% on the Compounded Returns generated from their position.
The YSL.IO Referral Program is also beneficial for existing users that decide to share their Referral Link, with a referrer capable of earning Referral Rewards (sYSL tokens).
The YSL.IO Referral Program excludes the sYSL, xYSL, YSL-BUSD, sYSL-BUSD and xYSL-BUSD vaults. These vaults are not able to be optimised and are excluded as a result. In other words, a referrer will not receive referral rewards if the TVL of the user(s) that they refer are solely held within either the sYSL, xYSL, sYSL-BUSD and/or xYSL-BUSD vaults.
The YSL.IO Referral Program will utilise smart contract logic, whereby a user's Referral Link to the platform will have the additional parameter of a signature. The signature will be created when the user creates a referral link after connecting their wallet to the platform.
This signature will be sent to the contract whenever a new individual connects to YSL.IO via the user's unique referral link. The contract will validate the correctness of the signature on-chain and save the wallet address of the new individual to the contract against the address of the referrer. This ensures that an individual is not capable of being referred by more than one user, as their address will be checked and validated on the contract. Furthermore, the signing system will enable a Referral Link (signature) to be shared with another user at any time.

Benefits of the YSL.IO Referral Program

Share a Referral Link
Connect via a Referral Link

βœ… 10% Referral Rewards (sYSL tokens)

  • The referrer will receive Referral Rewards whenever the new user(s) they have referred performs a harvest.
  • The amount of Referral Rewards received by the referrer will vary in accordance with the sYSL rewards harvested by the new user(s) that connected via their Referral Link.
  • The Referral Rewards will be received in the vault(s) of the existing user, in accordance with the vault(s) being harvested by the user(s) that connected using their Referral Link.
  • The existing user is then able to harvest these rewards as sYSL tokens which will then be sent to the vesting contract, and the user will receive their sYSL tokens linearly over 180 days.

βœ… Extra 5% sYSL Rewards

  • When a new user connects to YSL.IO via a Referral Link, they will benefit from an n extra 5% on the Compounded Returns generated from their position.
  • Upon depositing LP tokens into any active vault on YSL.IO (excluding the sYSL and YSL-BUSD vault), the protocol will activate the referral program.
  • As a result, when the user harvests their position they will obtain sYSL Rewards equivalent to 305% of the Compounded Returns generated from their position.

How does this work?

  • The referral program is activated by the protocol when a new user connects to YSL.IO via a Referral Link.
  • Upon doing so, the protocol will increase the new users return by an additional 5%.
  • The new user will then benefit sYSL Rewards equivalent to 305% of their Compounded Returns (LP tokens) when they decide to harvest their position.
  • By sharing a Referral Link, a referrer (existing user) will benefit from Referral Rewards (sYSL tokens).
  • The protocol will distribute Referral Rewards (sYSL tokens) to the referrer whenever the new user(s) they have referred harvest their position.
  • The referrer will receive their Referral Rewards in the corresponding vaults that are being optimised by the new user(s) they have referred.
  • If a new user connects via a Referral Link but doesn't deposit LP tokens, the referrer will not receive any Referral Rewards.
  • The amount of sYSL tokens that are received by the referrer is dependent upon the sYSL Rewards harvested by the new user(s) they referred (excluding the sYSL, xYSL, sYSL-BUSD and xYSL-BUSD vaults), with the referrer obtaining sYSL tokens equivalent to 10% of the new user(s) harvested sYSL Rewards.
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The process is outlined below:
Connect via a Referral Link
Generate and Share a Referral Link
βœ… Step 1 – New user visits YSL.IO via a Referral Link
  • The new user will first need to access YSL.IO via a Referral Link.
βœ… Step 2 – Connect Wallet
  • The new user will then need to connect their wallet to YSL.IO.
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βœ… Step 3 – Address Validation
  • When a new user connects to YSL.IO via a Referral Link, their address will be checked and validated on the contract to ensure they have not been previously referred.
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βœ… Step 4 – Deposit LP token(s)
  • Once the new user performs a deposit into any active vault on YSL.IO (excluding the sYSL vault), the contract will validate the new user's address
  • The protocol will then save the wallet address of the new user on the contract against the address of the referrer (existing user).
  • Please note: the new user will need to make a vault deposit to finalise the process.
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βœ… Step 5 - sYSL Rewards and Referral Rewards
  • When the new user harvests their position, they will now benefit from an additional 5% to the Optimisation Multiplier (305%). This means they are now benefiting from an additional 5% in sYSL Rewards.
  • When the new user harvests their position, the referrer (existing user) will earn Referral Rewards. These Referral rewards will be equivalent to 10% of the sYSL Rewards harvested by the new user.

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Please note: A 180-Day Vesting Period is applicable for harvested sYSL Rewards and harvested Referral Rewards.

Harvested rewards are subject to a 180-day vesting period, whereby they are sent to the vesting contract and will be unlocked linearly on each block over a period of 180 days.
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    Step 1 – Connect Wallet
    • The user will first need to connect their wallet to YSL.IO.
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    Step 2 – Generate a Referral Link
    • The protocol will generate a Referral Link for the user.
    • This Referral Link will be unique to the user and will be linked to their wallet address.
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    Step 3 – Share Referral Link
    • The user is now able to share their Referral Link.
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πŸ‘‰ Read our BIG (Busy Investor Guide) to learn more about the YSL.IO Referral Program!

Last modified 10d ago