ReferFi is the first on-chain referral protocol. It can let decentralized exchanges share a part of fees with promoters. Anyone can create a referral link of a DEX and earn commission.

Built at ETHDenver 2024
First Place

The problem ReferFi solves

DEX(Decentralized Exchanges) always needs more users. Actually 40% of CEX(Centralized Exchanges like Binance) users come from referral programs, but most DEX do not have this ability.
Therefore, with 0 code, DEX can use referFi to grow its user base, by sharing a percentage of its trading fee.

To Promoters:
Every user has some crypto friends and is willing to make more revenue. By generating a personal referral link from referFi in 10 seconds, user can earn thousands of USDT per month from the tradings made by their invitees.

To Invitees:
Invitees can also get a discount on DEX’s service fees when they use the referral link. So we can help them to save some money in on-chain transactions.

Challenges we ran into

  1. When dealing with token price fetching, the fluctuations of token prices was a challenge. By monitoring some large and stable pools, we are able to build our offline service of token price query.

  2. Cashback claiming might cause duplicated executions. We use a design pattern of asynchronous tasks where users only submit claiming requests and the system handles them using a task queue periodically.

  3. The end-to-end latency from transaction completion to cashback arrival. We leverage the goroutine for requesting GraphQL data. Normalizing data structure to speed up queries is useful as well.

Cheer Project

Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.