Threefold Referral Program
I thought about a way to use the solution provider program and the Proof-of-Utilization distribution to build a referral program for Threefold. Here’s the basic of what I have in mind. Please share your thoughts on this. Perhaps we can improve the basic idea with your help!
Table of Contents
The Proof-of-Utilization Potential
The following is the P-o-U current setup:
50% goes to solution providers and sales channels*
35% goes to TFT burning
10% goes to the Threefold Foundation
5% goes to the Validator Staking Pool
We thus have 50% available for solution providers and sales channels.
If the 50% isn’t used for solution providers and sales channels, it goes to the Threefold DAO owned Community Grant Wallet.
The Basic Concepts of a Referral Program
I will use the information available here to be quick.
Thus everyone understands the terms used.
Referral: The act or process of transferring something to another, of sending by reference, or referring.
Referrer (Brand Advocate/ Ambassador): a person who makes a referral/refers another (their friends, family and acquaintances).
Referee (Friend): a person who is invited to a referral/ referred by another.
Referral Programs: programs that are designed to specifically motivate the existing customers to help a business find new customers.
Viral Loop: a mechanism that has users refer others to a product or service and then turns those referees into referrers through the same mechanism.
Rewards: what participants in a referral program earn on successful completion of a referral.
Happy moment: the time when a referrer is most likely to make a referral due to a recent happy experience while using your product or service.
The Proposition for the Referral Program
We share the 50% of PoU to referee and referrer. This will encourage people to use the TF Grid and to talk about the TF Grid to their friends, etc.
The General Process
The referee uses the referrer’s link
The referee deploys on the TF Grid
At the end of the deployment, the TF DAO wallet sends half of the 50% to the referee and the other half to the referrer
The Basic Flow of the Referral Program
Someone uses the TF Grid and deploys a workload
This is the “happy moment”, as the TF user can see how amazing the Grid is
Threefold sends a message to invite the user to become a referrer.
Referral Message: “Did you enjoy deploying on TF Grid? If you want to, you can participe in our Threefold Referral Program, simply share this link [TF referral link, combined with the referrer’s 3bot ID] to your friends.”
The Referrer sends their link to a friend.
The friend is now a referee. The referee deploys on the TF Grid.
Once the deployment is done, the TF Grid knows the total amount of TFT used for this deployment
The TF DAO owned community Grant Wallet thus received 50% of the workload cost
The TF DAO wallet sends half of the “rewards” to the referee, and the other half to the referrer
The viral loop: the referee can easily become the referrer: they enjoyed deploying on the Grid, and they benefited from the referral program as a referee. They might want to also become a referrer.
Obviously this is a general draft of the proposition.
We can have variations.
For example, the referrer can easily be a Threefold farmer. It doesn’t have to be a user deploying on the TF Grid.
What do you guys think?
Would this be feasible?
How could this be coded into TF Grid’s smart contracts?
TF Referral Program Details
In order to avoid self-referral fraud, we could implement the following in the TF Referral Program:
- there is a limit on referral rewards
- e.g. 20$ worth of TFT maximum
- to become a referrer, you need to have a proven history of using the TF Grid
- users can become a referrer after they spent X amount of $ (or TFT) on the TF Grid