Teams & competitions

Beyond the immediate rewards contained within the referrals program, a referrer may also create a team from their referral set (their key plus the keys of all users who signed up with their referral code). These teams allow groups of users to compete in competitions based on various metrics, rank on leaderboards and receive rewards distributed to the group for their performance in them.

Teams

• A referrer may create a team to be eligible to receive further rewards from the rewards page within Console
• Team members participate together to compete for prizes against other teams.
• By default your team will consist of the referrer and referees, and people that are referred after creating the team will automatically be added to it.
• A referrer can additionally close their team to prevent other people from joining it. While this may make it harder to win prizes, anything won may then be shared with a smaller member set.
• Referees can chose to move teams by using another team's referral code, however the protocol behaviours tied to the referral program, such as fee discounts and a portion of the fees being paid to the referrer will always be based on, and pay back to, the initial referrer and everyone referred by them.

Prizes

• Teams will be automatically enrolled to earn prizes as long as eligibility requirements are met.
• Individual team members may also have to meet eligibility requirements separately in order to receive a share of the team prize. This will be specified on a per-competition basis.

Rewards

• Team rewards are shared between team members that met the required criteria for the particular prize
• Reward pools may be funded by anyone in any token
• All rewards vest linearly over a period of time
• Activity streak criteria rewards loyal and active traders by giving:
  1. a greater share of team rewards
  2. an accelerated vesting rate on locked rewards

You can access higher tiers and greater benefits by maintaining an activity streak. The length of a streak is measured in epochs and a party is considered active if you made a trade or held an open position larger than NETWORK_PARAM during the epoch. If a party is inactive for more than a specified number of epochs they will lose their streak.

• Once rewards have vested you will be able to transfer funds to your general account using a normal transfer without paying transfer fees.
• Alternatively, you can leave your rewards in the vested account to increase your total rewards balance and receive a greater share of the team rewards.
• The size of this multiplier is dependent on your total rewards balance, i.e. the sum of the you locked rewards, vesting rewards and vested rewards. Note, funds removed from the vested account are not included in this total.