Referral System

What is a Referral System?

A referral system is a smartcontract that rewards users for referring people for successfully purchasing your token through a referral link. They help increase the price and number of holders for the token by rewarding people for sharing it.
The smartcontract works by chainging the tokenomics slightly to give a discount to the buyer and send part of their purchase to the referrer. Let's take Altrucoin as an example:
Alex is very excited to be a part of the Altrucoin community and wants their friend Skylar to join as well. After hearing all about the project and amazing use cases, Skylar wants to buy some Altrucoin. Alex uses the referral system and generates a referral link, which Skylar uses to go to the referral platform. Skylar then inputs the amount of Altrucoin they want to buy, and completes the transaction. Skylar gets a discount compared to buying it on exchanges, and Alex gets some Altrucoin for referring a friend!

What is an Altrucoin Referral System?

On the Altrucoin decentralized onboarding platform, you can create a referral system without any development work, and it will be hosted on the Altrucoin Referral Platform. The Altrucoin referral systems are also uniquely set up so that whenever someone buys a token through a referral link, they get rewarded in the native token of their referral and also some Altrucoin tokens.
You can learn more about how the referral system works within the ecosystem on our Ecosystem explanation page.