> 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

### 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 **fee discount** on position open/close fees. This discount is based on your referrer's tier.

{% hint style="info" %}
The discount is only active once you have **bound a valid referral code**. If you have not bound a code, no discount applies. The discount covers 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. `HF8888`) appears with copy and **Share** controls. Your Tier badge, **Claimable Rebates** (with a **Claim** button), and tier-progress meters (**Referees** and **30D 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 a position fee, so Hyper Lev trades **do not generate rebates**. However, a referral who trades in Hyper Lev mode **does count toward your Active Referees** and their **volume counts toward 30D Volume** for Tier purposes — 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. LP yield (holding returns) is also excluded. Only position open/close fees in Normal mode generate rebates.

**Settlement:** 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.

***

### Tier System

Your Tier determines your rebate rates. To reach or hold a Tier you must meet **both** conditions at the same time:

| Tier       | Active Referees | 30D 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 Referees** — the number of unique wallet addresses in **your network (both L1 direct and L2 indirect)** that have completed **at least 1 trade with a notional size ≥ $10 within the trailing 30 days**. Your own address is **not** counted. This is a **rolling 30-day** metric: an address that goes 30 days without a qualifying trade automatically drops out of the count.

**30D Volume** — the combined notional trading volume (open + close) over the **trailing 30 days** from **your L1 referrals, your L2 referrals, and your own trading**. Your own volume **is** included. Both Normal and Hyper Lev trades count toward this figure. LP deposit/withdrawal volume is excluded.

{% hint style="info" %}
**Both meters use a rolling 30-day window** — they reflect the most recent 30 days at all times, not a calendar month. Numbers can move up or down day to day as older activity rolls out of the window.
{% endhint %}

#### When Tier changes take effect

Upgrades and downgrades are **not symmetric** — upgrades are fast, downgrades have a grace period:

| Change        | When it's checked | When it takes effect                         |
| ------------- | ----------------- | -------------------------------------------- |
| **Upgrade**   | Daily             | **00:00 UTC the next day** after you qualify |
| **Downgrade** | Monthly           | **00:00 UTC on the 1st of the next month**   |

* **Upgrade (next day):** The moment you meet both thresholds for a higher Tier, your upgrade takes effect the following day. You can jump multiple Tiers at once if you qualify.
* **Downgrade (next month):** If, at the end of a calendar month, either metric is below your current Tier's threshold, your Tier steps down on the 1st of the next month. Within the month you can climb back to qualifying at any time to avoid the downgrade — a short dip mid-month does not drop you immediately.

You'll receive an in-app notification when your Tier changes.

***

### 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              |

Each level is calculated from that person's **own** Tier rate, independently.

***

### Code Management

**Creating additional codes:** You can create more than one code from the same address; each code tracks its own stats. Once a code is created it **cannot be edited or deleted** — to change it, simply create a new one.

**Re-binding (as a referee):** Replacing the code you've bound switches your rebate attribution to the new referrer from that moment on. Your historical discount savings are preserved.

**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

**Do I get the 5% discount without binding a code?** No. The discount only applies after you bind a valid referral code.

**Can I use my own referral code?** No. Self-referral is not allowed.

**Does my own trading count toward my Tier?** Your **own volume counts toward 30D Volume**, but you are **not** counted as one of your own Active Referees.

**Why did my Referees / 30D Volume numbers go down?** Both are rolling 30-day figures. Activity older than 30 days rolls out of the window, so the numbers naturally rise and fall with recent activity.

**How fast do Tier changes happen?** Upgrades take effect the **next day** once you qualify. Downgrades only happen at the **start of the next month**, and only if you're still below the threshold at month-end — so a brief dip won't drop you mid-month.

**Does my referrer's Tier affect my discount?** Yes. The trader discount you benefit from depends on 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.


---

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