Skip to main content

​
1. Overview

Orderly adds a brand new affiliate programme that allows DEXs and their affiliates to configure the percentage of referral commission share to foster the growth of their trading platform. The core model is a funneled and multilevel referral system:
  • Brokers work with their direct affiliates to grow their trading platform, with attractive referral commissions for the direct affiliates to build their own multilevel referral networks.
  • Affiliates higher up the hierarchy have the flexibility to set higher commission sharing ratios. This allows affiliates to distribute a portion of their commissions to referees, based on their commission sharing ratio, thus creating a multilevel chain of referrals.

​
2. Prerequisites

Only DEXs with valid broker ID can enable the affiliate program. This applies to all DEXs built with SDK, API and Orderly One. For Orderly One DEXs specifically, they must first graduate to obtain a broker ID before they are eligible to enable the affiliate program.

​
3. New vs. legacy affiliate programs

The key differences between the legacy and new affiliate programs are summarized below:
DetailsLegacyNew
Referral networkSingle-level, only direct referralsMultilevel (up to 15 levels), direct and indirect referrals
Referral commissionAffiliates earn commissions from direct referees onlyAffiliates earn commissions from both direct and indirect referees down the referral chain, with additional 10% bonus from direct referees
L1L_1 affiliate’s commission rateUp to 100%, decided by brokerUp to 90%, decided by broker
Referral code creationCreated primarily by the broker or qualified affiliates upon meeting the applicable trading volume requirements.Qualified affiliates can create codes after meeting the required trading volume (where applicable). Affiliates may only create one unique referral code.

​
4. Coexistence of legacy affiliate program

This new affiliate program is a multilevel referral system which supersedes the legacy affiliate program. Existing brokers who have enabled the legacy affiliate program could choose to keep the legacy system or upgrade to the new one.
  1. For new brokers or existing brokers who did not enable the legacy affiliate program:
    • The new system will take place when the brokers enable the affiliate program.
    • The legacy system is not available.
  2. For existing brokers who enabled the legacy affiliate program, they can either:
    • Keep the legacy affiliate program; or
    • Upgrade to the new affiliate program which incorporates a multilevel referral structure. Please note that the upgrade is irreversible. All legacy referral codes remain valid and functional after the upgrade, but no legacy referral codes can be further created.

​
5. Referral commission structure

Brokers have the flexibility to determine the referral commission rate allocated to L1L_1 affiliates. These L1L_1 affiliates are the initial referrers who establish a multilevel network and do not report to any referrer above them.

​
5.1 Broker’s margin

Affiliates receive their referral commissions from the broker fees shared by brokers. This commission is paid out for every trade executed on the DEX. (Fee)Broker=(Trading fee)N−(Base fee)Broker\text{(Fee)}_\text{Broker} = \text{(Trading fee)}_N - \text{(Base fee)}_\text{Broker} The broker’s margin from each trade within the multilevel referral network is determined after allocating a referral commission rate X1X_1 to the L1L_1 affiliates. (Margin)Broker=(Fee)Broker×(0.9−X1)=[(Trading fee)N−(Base fee)Broker]×(0.9−X1)\text{(Margin)}_\text{Broker} = \text{(Fee)}_\text{Broker} \times (0.9 - X_1) = \big[\text{(Trading fee)}_N - \text{(Base fee)}_\text{Broker}\big] \times (0.9 - X_1) where (Base fee)Broker\text{(Base fee)}_\text{Broker} depends on the broker fee tier.

​
5.2 Affiliate commission

L1L_1 affiliates may distribute a portion of their commission to their direct referees (L2L_2). This process can be extended further, as L2L_2 affiliates can further sub-divide their allocation to their direct referees (L3L_3), establishing a multilevel structure. This multilevel referral network can extend up to a total of 15 levels. For every trade executed by a user (LN)(L_N) on the DEX, the affiliates within the multilevel referral network can earn the following commission:
RoleAffiliate commission rateAffiliate commission
L1L_1 affiliate(X1−X2)(X_1 - X_2) where X2∈[0,X1]X_2 \in [0, X_1](X1−X2)×(Fee)Broker(X_1 - X_2) \times \text{(Fee)}_\text{Broker}
L2L_2 affiliate(X2−X3)(X_2 - X_3) where X3∈[0,X2]X_3 \in [0, X_2](X2−X3)×(Fee)Broker(X_2 - X_3) \times \text{(Fee)}_\text{Broker}
L3L_3 affiliate(X3−X4)(X_3 - X_4) where X4∈[0,X3]X_4 \in [0, X_3](X3−X4)×(Fee)Broker(X_3 - X_4) \times \text{(Fee)}_\text{Broker}
………
LN−1L_{N-1} user(XN−1−XN)(X_{N-1} - X_N) where XN∈[0,XN−1]X_N \in [0, X_{N-1}][(XN−1−XN)+10%]×(Fee)Broker[(X_{N-1} - X_N) + 10\%] \times \text{(Fee)}_\text{Broker}
LN−1L_{N-1} user earns a 10% bonus as the direct referrer.
LNL_N userEarn referee’s commission: XN×(Fee)BrokerX_N \times \text{(Fee)}_\text{Broker}
Note: Direct referrers earn a 10% bonus referral commission rate from trades executed by their direct referees.

​
5.3 Referee’s commission

For every trade executed by a user (LN)(L_N) on the DEX, the user can earn the following referee’s commission within the multilevel referral network: XN×(Fee)BrokerX_N \times \text{(Fee)}_\text{Broker} where XNX_N is the commission rate allocated by the direct referrer (LN−1)(L_{N-1}).
Note: L1L_1 users have no referrers above them and earn no referee’s commissions from their own trades.

​
5.4 L1L_1 affiliate commission rate adjustments

Admin console: https://admin.orderly.network/referral

​
5.4.1 Default affiliate commission rate

Brokers can configure a default L1L_1 commission rate that serves as the default for users claiming referral codes as L1L_1 affiliates. The brokers can customize the commission rate of these L1L_1 affiliates, subject to the following rules:
  • If no referral codes have been claimed, the broker can freely adjust the default commission rate up or down.
  • Once referral codes are claimed, the broker may only increase the default commission rate, applying changes to all direct referees on that rate. This restriction protects existing referrals and prevents unfavourable downstream changes.

​
5.4.2 Custom affiliate commission rate

Brokers may customize a higher affiliate commission rate to overwrite the default rate for any L1L_1 affiliates, but cannot decrease it.