> For the complete documentation index, see [llms.txt](https://hertzflow.gitbook.io/hertzflow-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hertzflow.gitbook.io/hertzflow-docs/rewards/referral.md).
# Referral
Invite friends to trade on HertzFlow and earn fee rebates. Your referrals get a fee discount too.
The **Referral** page has two cards: **As Referee** (the code you've applied and the fees it saves you) and **As Referrer** (your own code, Tier, claimable earnings, and a **Your Squad** view of your L1/L2 network).
***
## How It Works
The referral program has a **two-level structure**:
* **L1 (Direct)** — you invite a friend; they trade; you earn a rebate on their fees
* **L2 (Indirect)** — your friend invites someone else; you earn a smaller rebate on that person's fees too
Rebates stack — the same fee can generate both an L1 and L2 rebate to different people. The chain stops at two levels.
***
## For Traders: Get a 5% Fee Discount
Any trader who binds a valid referral code receives a **flat 5% discount** on position open/close fees. This discount is the same regardless of your referrer's tier.
{% hint style="info" %}
The 5% discount applies to position open/close fees only. It does not apply to borrow fees, funding fees, or Hyper Lev mode fees.
{% endhint %}
### How to bind a code
1. Open the **Referral** page (top navigation)
2. In the **As Referee** card, click the edit icon next to **Code Applied**
3. Enter a 6-character code and confirm
4. Your discount takes effect on your next trade
You can re-bind to a different code at any time with no limit on re-binds. Historical data is preserved; rebate attribution switches to the new referrer from the moment you re-bind.
**First-time users:** A binding popup appears automatically when you first connect your wallet. You can bind a code or skip — the prompt only shows once per address.
***
## For Referrers: Earn Rebates
### Creating a referral code
1. Open the **Referral** page (top navigation)
2. In the **As Referrer** card, open the settings control next to **Your Referral Code**
3. Enter a 6-character code (letters + numbers; pure numbers not allowed). Codes are globally unique.
4. Sign with your wallet to register the code on-chain
Once created, your code (e.g. `HZ7E3F`) appears with copy and **Share** controls. Your Tier badge, **Claimable Earnings** (with a **Claim** button), and tier-progress meters (Referees and 30D Referee Volume) sit alongside it.
### How rebates are calculated
Rebates are calculated on the **actual fee paid** (after the 5% referee discount):
| | Calculation |
| -------------------- | ------------------------------------------- |
| **Referee discount** | `fee × 5%` (deducted first) |
| **Your L1 rebate** | `fee_before_discount × your Tier's L1 rate` |
| **Your L2 rebate** | `fee_before_discount × your Tier's L2 rate` |
Rebates accrue in USDT and are claimable on-chain at any time. Gas is paid by you when claiming.
**Hyper Lev mode:** Fees in Hyper Lev mode are based on profit share, not position fee. Hyper Lev trades **do not generate rebates** (since no position fee is charged). However, a referral who trades in Hyper Lev mode **does count toward your Active Referrers** headcount, and **do count toward Monthly Referred Volume** for Tier purposes, as real trading activity has occurred.
**LP fees:** Liquidity pool deposit and withdrawal fees do not generate referral rebates and are not eligible for the referee discount. Only position open/close fees in Normal mode participate in the referral program. LP yield (holding returns) is also excluded.
**Settlement:** Rebates are calculated in a daily batch at 00:00 UTC. The claimable balance in your dashboard reflects settled amounts; today's trades appear the following morning.
***
## Tier System
Your Tier determines your rebate rates. Tiers are reviewed **monthly** at each calendar month end. You must meet **both** conditions simultaneously to maintain or advance:
| Tier | Active Referees | Monthly Referred Volume (rolling 30d) | L1 Rebate | L2 Rebate | Referee Discount |
| ---------- | --------------- | ------------------------------------- | --------- | --------- | ---------------- |
| **Tier 1** | No requirement | No requirement | 10% | 5% | 5% |
| **Tier 2** | ≥ 15 | ≥ $10M | 20% | 10% | 5% |
| **Tier 3** | ≥ 40 | ≥ $80M | 30% | 15% | 5% |
**Active referrer** — a wallet address that has bound your code directly (**L1 only**) **and** completed at least **1 trade** with **a notional size ≥ $10** during the calendar month. L2 referrals do not count toward this metric. This count resets monthly.
**Monthly Referred Volume** — the total notional trading volume (open + close) generated by your L1 and L2 referrals over the rolling 30-day window. Hyper Lev trades are excluded. This metric updates in real time on a rolling basis.
Tier upgrades and downgrades take effect at the start of the following month. You'll receive an in-app notification if your Tier is downgraded.
***
## Rebate Example
**Setup:** A (Tier 3) invited B (Tier 2), who invited C. C opens and closes a trade generating **$100 in fees**.
| | Calculation | Amount |
| ------------- | ----------------------- | ---------------- |
| C's discount | $100 × 5% | −$5 → C pays $95 |
| B's L1 rebate | $100 × 20% (B's Tier 2) | $20.00 |
| A's L2 rebate | $100 × 15% (A's Tier 3) | $15 |
***
## Code Management
**Changing your code:** When you replace an existing code with a new one, the old code immediately expires and is released. All wallets that had bound the old code retain their referral relationship with you — their rebate attribution continues uninterrupted under the new code.
**Migrating your wallet:** You can transfer your referrer identity (all downstream relationships and claimable balance) to a new wallet with a single signature. The old address is zeroed out after migration.
***
## FAQ
**Can I use my own referral code?** No. Self-referral is not allowed.
**What happens to my data if I re-bind to a new code?** Your historical discount savings are preserved. Rebate attribution switches to the new referrer immediately for future trades.
**Does my referrer's Tier affect my discount?** No. The trader discount is always 5%, regardless of your referrer's Tier.
**When are rebates settled?** Rebates are calculated in a daily batch at 00:30 UTC (T+1). The claimable balance in your dashboard reflects settled amounts; today's trades appear the following morning.
**What if my Tier drops?** You receive an in-app notification at the start of the new month. The new rates apply from that point; historical rebates are unaffected.
---
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