Phenix Referral Program
Learn all about the Phenix Referral Program.
The Phenix Referral Program (PRP), is a unique offering on the CRONOS chain that allows users and investors alike to support our community and ecosystem by referring other investors to purchase PHNX Token. Unlike other referral systems or programs in DeFi, the PRP offers high-level rewards for your effort which are ever-evolving and scaling depending on your commitment.
The Phenix Referral Program will be accessible via the Phenix Dashboard DApp under the Referrals page. Here, you'll be able to track statistics on your referrals made and the overall performance of the referral program. To join the PRP, you must be a holder of PHNX token which can be purchased via MMF Dex or the Buy PHNX page on the Dashboard. The amount of PHNX required to join the referral program will be stated on the Referrals page.
Once joining the Referral Program, you're not entitled to keep holding your PHNX tokens. So you may choose to sell, hold, or even buy more! The choice is yours.
When joining the Phenix Referral Program, it will NOT cost you any of your PHNX tokens. There is simply an amount you need to hold to gain access to the PRP.
After meeting the requirements to join the Phenix Referral Program, joining is simple. You will just need to connect your wallet to the dashboard and click the "Join Referral Program" button. You will need to pay a very small gas fee to approve the transaction on the CRONOS blockchain.
Once joined, you'll see the page update with a new set of statistics and a new "Referral Link" section which allows you to copy your very unique referral link and start making referrals. Send your unique referral code to other investors or friends who are interested in finding a new project.
Rewards for the Phenix Referral Program will be paid/claimed directly in CRO (Cronos) which is the payment coin of the Cronos Chain. The number of rewards you receive in CRO is dependent on the following factors:
- The number of referrals made via your Referral Link.
- The amount being spent via your Referral Link.
- Your current Referral Rank.
The general idea is that the more referrals you make, the more rewards you stand to gain. On top of this basis, the more referrals you make the higher your rank increases. Here are the following referral ranks in place:
- Starting Rank
- 1% direct commission in CRO
- Rank 1: Phenix Pro
- 2% direct commission in CRO
- Unlocked after referring 15,000 CRO worth of PHNX tokens
- Rank 2: Phenix Master
- 3% direct commission in CRO
- Unlocked after referring 50,000 CRO worth of PHNX tokens.
- Rank 3: Phenix God
- 5% direct commission in CRO
- Unlocked after referring 100,000 CRO worth of PHNX tokens
As an example, let's say you're in the Phenix Master rank. If you refer another user to purchase PHNX token via your referral link and they swap 10,000 CRO, you're claimable rewards would increase by 300 CRO.
To incentivize the use of Referral links, the base 13% BUY fee that PHNX token has will be reduced to a 12% BUY fee when PHNX is purchased via a Referral Link, as opposed to directly buying from the MMF Swap page. The referrer's referral ranking will have no change on the buyer's end and it will be a 12% BUY fee regardless of the rank. This ensures the system cannot be abused excessively.
At a base, the percentage of commission allocated for the referrer is claimable via the Referrals page, and the remainder of the fee is sent to the token contract for processing (like normal).
Here are some of the general rules that surround the Phenix Referral Program:
- Do NOT post your referral link directly in social groups such as Discord or Telegram. You may add your referral link in your Bio / Description or post your link in dedicated referral link groups.
- IF you desire, you may make purchases through your own referral link via another wallet. We will not impose or issue any punishment for doing this as there is no way for us to control this from happening.
- The entry requirement for the Phenix Referral Program may change at any time (as the token price does change). IF you are already in the referral program, your status will NOT change.
- New Referral Ranks may be introduced at any time and fees for referral ranks may change as a result of the addition or removal of ranks.
- Your CRO Rewards from the commission are to be claimed from the Referrals page on the Phenix Finance Dashboard DApp. You will NOT be rewarded automatically.