Today, Enzyme is very excited to announce the release of a brand new Referral Program. This initiative gives Enzyme users the opportunity to win up to $1,000 in MLN tokens per month, but only for a limited time.
TLDR
- Enzyme has launched a Referral Program
- Users can win up to $1,000 in MLN tokens
- To be eligible, your wallet address must have been active on Enzyme before Dec. 31st, 2022)
- There are two options available for participation in the Enzyme Referral Program: “lite” (pays out $100 per vault) and “full” (pays out $200 per vault)
- To receive a payout, the vault will need to reach a minimum AUM of $10,000 (or equivalent value in tokens) within the first 30 days
- Eligible users can receive a bonus AUM-based payment (ranging from 100%-500% of the initial reward) paid 180 days after the vault creation
What is the Enzyme Referral Program?
The Enzyme Referral Program is a new initiative that allows Enzyme users to earn rewards by referring new vault owners to the platform. By participating, users can earn a one-time payout of $100 or $200 in MLN tokens, depending on the type of referral, as well as a bonus payment based on the assets under management (AUM) of the referred vault. This includes a maximum payout of up to $1000 in MLN tokens.
The concept of the program had been discussed previously by the Enzyme Council and was formalised in ENZIP 13 and MFP 18, which were later passed through governance.
The goal of the program is to incentivise individuals to spread awareness about Enzyme and bring new users to the platform. In doing so, Enzyme will reward referrers for their efforts to help grow the community.
In this blog, we’ll discuss how the Enzyme Referral program will work — including details about eligibility criteria, how payouts for successful referrals will happen, as well as T&Cs to be mindful of.
Excited? Let’s get started.
How does it work?
Eligibility
The Enzyme Referral Program is open to all users of the Enzyme platform, including both managers and depositors. To be eligible, the address must have been active on Enzyme prior to the cut-off date of Dec. 31st, 2022.
Participation
There are two options available for participation in the Enzyme Referral Program:
- Lite — You can send a prospect directly to Avantgarde for onboarding (referred to as “lite” in the T&Cs). Simply email referral@avantgarde.finance with the contact person and make sure to mention your Enzyme wallet address to receive your rewards.
- Full — If you prefer to help the prospect create the vault directly (referred to as “full” referral in the T&Cs), let us know by emailing referral@avantgarde.finance once the vault has been created. Don’t forget to mention your Enzyme wallet address to receive your rewards.
Please note that there are minimum levels of AUM that the vault must reach in order to be eligible for rewards and bonuses. For more information, please see the full T&Cs below.
Payout
For a valid referral, there are two types of payouts available:
- One-time payout as a success fee. This will be sent to the referrer’s address 30 days after vault creation and will be paid in MLN tokens. The amount will be determined using the average MLN price over the past 30 days, with $100 equivalent for a “lite referral” and $200 equivalent for a “full referral”. To receive a payout of $100 (“lite” referral) or $200 (“full” referral) per vault created, the vault will need to reach a minimum AUM of $10,000 (or equivalent value in tokens) within the first 30 days.
- Bonus payment (AUM-based). This will be paid 180 days after vault creation and will also be sent to the referrer’s address in MLN tokens. The bonus amount will depend on the AUM of the new vault and will range from 100% of the “full referral” amount for AUM between $100k and $500k, to 500% of the “full referral” amount for AUM over $1m.
Please refer to the full T&Cs for more information on the Enzyme Referral Program, including restrictions and limitations.
Restrictions
There are some restrictions and limitations to the program, such as a limit of 5 referrals per user per 30-day period and a global limit of 25,000 MLN allocated to the program. The program is expected to last for 6 months, or earlier if the cap is reached before then.
How to Get Started
Getting started with the Enzyme Referral Program is easy. Simply decide on the type of referral you would like to make and email referral@avantgarde.finance with the required information, including your Enzyme wallet address. Check the full terms and conditions for more information on payouts, eligibility, and restrictions.
The Enzyme Referral Program is a great opportunity for existing users to earn rewards by introducing new vault owners to the platform. So don’t miss out, get started today!
Terms & Conditions
Disclaimer: We reserve the right to cancel, modify or terminate the Program at any time for any reasons.
Eligibility
Referrer:
- Any user of the Enzyme platform (manager or depositor) can become a Referrer
- The address must have been active on Enzyme up to 30 days prior to program launch (cut-off date = Dec. 31st 2022)
New vault:
- To be valid, a Referral must have led within 30 days to a minimum initial AUM of $10k (or equivalent value in tokens)
- “Lite” Referral = user sends a qualifying prospect to Avantgarde; onboarding handled by Avantgarde
- “Full” Referral = vault created directly by new owner, with the eventual assistance of Referrer
- To be eligible for bonus payment (cf. bonus details below), 6 months after creation, new vault’s AUM must be at least $100k (or equivalent value in tokens)
Restrictions & limitations
- Limit of 5 Referrals per user (address) per 30-day period
- Global limit of 25,000 MLN allocated to the program
- Program duration of 6 months (or earlier if cap is reached before)
Payout(s)
For a valid Referral (cf. criteria in Eligibility & Restrictions above):
(A) One-time payout as success fee
- Funds sent to Referrer’s address
- Paid 30 days after vault creation
- Paid in MLN tokens
- Using average MLN closing price over past 30 days to determine payout amount (data source: Coingecko or equivalent)
- For “lite Referral”, amount = $100 equivalent
- For “full Referral”, amount = $200 equivalent
(B) bonus payment, AUM-based
- $100k < AUM < $500k ⇒ 100% bonus (of “full Referral”)
- $500k < AUM < $1m ⇒ 200% bonus (of “full Referral”)
- AUM > $1m ⇒ 500% bonus (of “full Referral”)
- AUM < $100k ⇒ no bonus
- Funds sent to Referrer’s address
- Paid 180 days after vault creation
- Paid in MLN tokens
- Using average MLN closing price over past 30 days to determine payout amount (data source: Coingecko or equivalent)
Other T&Cs
- Program monitoring: under responsibility of Enzyme Council, delegated to a Program manager
