Node Referral Program

[Mike_Despo]

Continuing the discussion from Translation to Brazilian Portuguese:

@andrey

We have two major directions which we would like to grow

• Power of the network - increase number of validators
• Use - increase number of users of the network (users who shied crypto, trade crypto, create own privacy coins, stake, etc)

In order to help activate the community in getting more people to become validators, has there been a conversation around a type of referral program? The person referring someone to start a Node could earn a PRV reward of some kind. This could result in more organic promotion of Node growth within the community, that could ignite a chain of new Nodes beginning.
How to validate who referred someone to start a Node would need to be solved.

Possible Solution: When someone Stakes their Node in the app, they also have the option input the wallet address of who referred them.
Also, to reward the person for starting a Node through a referral, that person could earn some PRV as well. This would keep both parties incentivized on referrals.
There are obviously more details to work out on this but we could start the conversation here.
@aaron @andrey @ning

[Jamie]

We had a Node referral program running in the beginning, I guess the same setup could be used.
It was more like buy a Node, refer x others to do the same, once they do you get y refund yourself.

[aaron]

I definitely support this for vNodes, but it might be harder to get interest for pNodes right now, since people who are already familiar with Incognito would rather wait to see what comes out of the Node Tree.

[Mike_Despo]

True. Referrals could be tied into the Node Tree release though, couldnt it?

[raz]

Referring liquidity providers would be awesome too. But we need some kind of OTC for that.

[aaron]

Definitely. I just mean that some people are waiting to buy the tree rather than the current node, so I’m unsure how effective it would be to launch now, rather than wait a bit. That said, there might be a path for current node owners to upgrade, but I’m just speculating at this point. It’s too early in the logistical process to have any definitive answer on that

[aaron]

We should add this to the things we want to implement definitely. Upping liquidity is huge.

[andrey]

its not referrals, but new incentives for liquidity providers. You guys could find interesting.

Supply liquidity for Incognito DEX. Provide privacy for the world.

Provide liquidity for the Incognito DEX and earn rewards In the same way Incognito validators stake PRV to earn block rewards, now liquidity providers can contribute liquidity to earn rewards (in addition to trading fees). You can access the pDEX from the Incognito Wallet, found in these app stores: [Appl%20store]       [google-play-badge] [image] Earn rewards for helping people trade on the world’s first privacy-protecting DEX! To start earning rewards, you just need to add liquidity for …

[andrey]

CC @annie, more ideas to reach your goals

Power Incognito with 300 more new nodes

What privacy problem are you solving? The Incognito network has been live for around 6 months and we have over 1000 validators so far. The more validators the network has, the more secure the network will become and the more well-known Incognito will be. That’s why my team and I are looking to acquire more validators. By powering the privacy network, they will earn rewards in PRV and other transacted currencies in return. What is the solution? There are currently 3 ways to become a validator: …

[palumboe1]

To add to this, maybe the reward could be 10% of each referrals staking or liquidity payouts. Or even a boost to your staking or liquidity that would definitely make me want to refer everyone!

[George_Rudenberg]

Mercenary that I am I too would like a referral bonus of some kind. This was my first thought, however, upon further reflection I wonder if a “bonus” is really necessary orfeasible. For example, what s a bonus? $10 $20 $199? It would be difficult to determine whgat is appropriate. Also promoting individual payments such as these might encourage some prospective referrals to engage in antisocial behaviour. Perhaps the bonus is that by having more nodes it seems we all benefit. I would like it if there was an ASIC in the node so that as further improvements are developed these enhancements could be updated either locally or remotely through the ASIC.