Proposal for K9 Referral Program
Objective: To create a referral program that incentivizes current users to bring new stakers to the K9 platform, fostering community growth and increasing the total value locked (TVL).
Overview:
Referral programs have been successfully implemented in various DeFi projects, significantly boosting user acquisition and engagement. For example, platforms like PancakeSwap and Aave have effectively used referral rewards to enhance their ecosystems, leading to increased liquidity and user participation.
Program Structure:
1. Referral Rewards:
• Current stakers will receive a reward (e.g., a percentage of the referred staker’s first stake) when they successfully refer new users to the platform.
• New stakers will also receive an incentive for joining through a referral link, such as a bonus in KNINE tokens or reduced staking fees for a limited period.
2. Tracking Mechanism:
• Implement a unique referral link for each user that tracks the number of successful referrals.
• Use smart contracts to automate the distribution of rewards, ensuring transparency and security.
3. Promotion:
• Launch the program with a marketing campaign highlighting the benefits of staking on K9 and the additional rewards from the referral program.
• Engage existing users through social media, newsletters, and community forums to promote their referral links.
4. Duration:
• Introduce the program for an initial period (e.g., 3 months) to evaluate its effectiveness. Based on results, adjustments can be made to optimize participation.
5. Evaluation:
• Monitor the number of new stakers, total locked value, and user engagement throughout the program.
• Collect feedback from participants to improve future iterations of the referral program.