Stake Referrals

Just as the WISE contract includes a referral program to incentivize users to help bring more ETH into the Liquidity Transformer, it also provides a referral program for staking.

When a user opens a new stake, the front-end interface checks whether the browser has a referral cookie, just as it does when making a token reservation in the LT Epoch. If such a cookie is present, AND the new stake is at least 365 days long, the contract tags this new stake with the referrer's address.

A referred stake generates 10% extra shares for the staker (beyond what it would have if not referred) as well an equal (but without the 10% bonus) amount of “critical mass shares” (a.k.a. “CM shares”) for the referrer. The system-wide pool of CM shares gets earmarked one quarter of the daily inflation WISE, but only for referrers that have qualified as CM referrers.

To qualify as a CM referrer, a user must have reached a total of $10,000 worth of referred stakes of 365+ days in length. If a user meets this condition, they are immediately and forever tagged as a CM referrer, and cannot ever lose that distinction, regardless of if their referees close all their stakes.

Another way to qualify as a CM referrer is to have referred 50 ETH of token reservations in the referral system of the LT Epoch. Users reaching that level are automatically pre-qualified as CM referrers forever.

Calculating a new stake's USD value is only done once, when the stake is opened. The WISE/USD exchange rate used for this calculation will be determined by querying the Uniswap WISE/ETH and ETH/DAI exchange pair contracts' price oracle interfaces.

Last updated