BFIP-06 Flywheel Referrals Feature

Summary

BFIP-06 Flywheel Referrals Feature is a proposal to add a referral system into the Flywheel that rewards users who refer other users to the Flywheel.

The Flywheel is anti-viral in its current state. Adding a referral system will create an incentive for existing users to onboard new users, by increasing their share of rewards within the Flywheel with each referral.

This BFIP proposes that BattleFly DAO approves the creation and implementation of the referrals feature described in this proposal.

How it will work

The proposed referral system would work as follows: If a user locks gFLY and uses your referral link, your "Referral multiplier" will go up based on the amount locked by the person you referred.

• Introduce a new multiplier to individual mining power within Flywheel: Referrals Multiplier (Rm)
• A user’s entire mining power will be multiplied by Rm
• Rm will start as 1 for all users
• Rm has a maximum value of 3
• Each time a user who has used your referral code locks gFLY for 90 days or more, your Rm will increase (unless already at 3).
• The amount that Rm increases is based on the values below:

Example: User A refers User B to the Flywheel. User B locks 1,050 gFLY for 90 days on the first day, and then decides to lock another 10,050 for 100 days on the second day, then another 100,050 gFLY for 10 days on the third day. User A starts with an Rm of 1. The first day their Rm goes up to 1.075. The second day their Rm goes up to 1.575. The third day their Rm doesn’t change.

When User B unlocks their gFLY, User A loses the referral multiplier for that position. I.e. in the example above (if User B doesn’t extend their lock times), after day 90 the Rm of User A drops from 1.575 to 1.5.

There will be another multiplier called “Link multiplier” (Lx). Lx starts at 1.

• When a User enters another users referral link into Flywheel and deposits 100 gFLY or more, their Link multiplier goes from 1 to 1.05. This stays at 1.05 in perpetuity.
• Users can not enter their own referral link.
• Link multiplier has a maximum of 1.05.

Proposal

Approve the creation and implementation of the referrals feature described in this proposal.

Indicative Poll

For: Approve BFIP-06 Against: Reject and reconsider