Simple Summary

The purpose of this rewards proposal is to create another tier in the referral scheme outlined in LEAP-49 for promotional partners.

Abstract

Referrals can be an effective growth strategy for DAOs that lack access to more conventional methods of product distribution. To further enhance this approach, I propose introducing a new verified tier exclusively for promotional partner referrers. This will help us to better target prominent Key Opinion Leaders (KOLs) and communities, thereby increasing our chances of attracting larger audiences.

Motivation

The current referral tier structure consists of four levels, each necessitating a specific amount of LYRA to be staked and an application submitted to the grantsDAO for verification. Although effective in assessing the alignment of potential referral partners that have expressed interest in being verified, requiring promotional partners outside of the community to stake over 1 million LYRA for a 50% reward kickback is a significant demand. Therefore, it is essential to develop a more appealing alternative tier tailored to promotional partners whose communities could be valuable sources of new users for the Lyra Protocol.

Below are the current referral tiers outlined in LEAP-49.

Tier	Conditions	Fee Rewards for Referee	Multiplier for Referred Trader
I	0 stkLYRA, unverified	10%	1.2x
II	500k stkLYRA, verified	35%	1.2x
III	1m stkLYRA, verified	50%	1.2x
IV	5m stkLYRA, verified	60%	1.2x

Specification

Below is the desired additional tier (II) to offer promotional partners. With the addition of this new tier, the current tier II specified in LEAP-49 would become tier III and so on.

Tier	Conditions	Fee Rewards for Referee	Multiplier for Referred Trader
I	0 stkLYRA, unverified	10%	1.1x
II	0 stkLYRA, verified	20%	1.2x
III	500k stkLYRA, verified	35%	1.2x
IV	1m stkLYRA, verified	50%	1.2x
V	5m stkLYRA, verified	60%	1.2x

Rationale

To emphasize the objective of this new tier, it aims to attract KOLs and communities that might not otherwise consider becoming a Lyra Referrer. By eliminating the need for referrers to stake LYRA, we address the issue of demanding financial investment before delivering value in the form of referral fee rewards, which is not enticing and could lead to unsuccessful outreach.

Promotional referral partners would be eligible for a 20% fee reward from referred traders, below that of Tier III, maintaining the incentive for the most dedicated referrers to stake LYRA for an additional kickback. Furthermore, the promotional partner can offer a 1.2x reward boost for traders onboarded to Lyra through their platform. This unique offering incentivizes their audience to participate.

In summary, this tier is designed to minimize the promotional partner’s effort while providing tangible benefits for their community. By introducing this tier, we can create a more appealing proposition for valuable referrers.

Test Cases

NIL

Copyright Waiver

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