John, a Centralex user and holds less than USD 7500 in CenX tokens, successfully recruits his friend, Sarah, to join Centralex. As a result, she becomes his L1 referral.
She then trades 1 BTC; again, the fee for this transaction is 0.007125 BTC (when fees are paid in CenX, a 25% discount is applied). As his L1 Referral Bonus, John will receive 25% of the trading fee, or 0.007125*0.25 = 0.00178125 BTC.
The Referral Bonuses for John don’t stop there. For example, let’s say Sarah recruits her friend, Mike, to Centralex. Mike becomes John’s L2 referral, and as such, John will enjoy a 5% L2 Referral Bonus on all the trades Mike makes. Sarah, of course, will receive the 25% L1 Referral Bonus every time Mike makes a trade.
Therefore, Sarah would earn (25%) 0.007125*0.25 = 0.00178125BTC
And John would earn (5%) of Sarah’s L1 referral 0.007125*0.05 = 0.00035625 BTC