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1. Overview

Orderly adds a brand new affiliate programme that allows DEXs and their affiliates to configure referral commission sharing, including a builder-set minimum pass-down rate that can guarantee earnings from direct referrals. The core model is a funneled and multilevel referral system:
  • Builders work with their direct affiliates to grow their trading platform, with attractive referral commissions for the direct affiliates to build their own multilevel referral networks.
  • Affiliates higher up the hierarchy can set higher commission sharing ratios and pass a portion of their commissions down to referees, subject to the builder-set minimum pass-down rate.

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2. Prerequisites

Any users can participate as affiliates, provided that the DEX activates the new affiliate program. In some cases, a trading volume requirement may be necessary. If a volume prerequisite is set, users must meet it to qualify as an affiliate and begin building their referral network. Since the required volume may vary between DEXs, users should confirm the specific prerequisites directly with the DEX they wish to join.

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3. New vs. legacy affiliate programs

The key differences between the legacy and new affiliate programs are summarized below:
DetailsLegacyNew
Referral networkSingle-level, only direct referralsMultilevel (up to 15 levels), direct and indirect referrals
Referral commissionAffiliates earn commissions from direct referees onlyAffiliates earn commissions from both direct and indirect referees down the referral chain, with a direct-referral earnings guarantee when the builder-set minimum pass-down rate is greater than 0
Commission configurationSingle-level commission up to 100%, decided by builderBuilder assigns affiliates a total commission rate and may configure a minimum pass-down rate for direct-referral earnings.
Referral code creationCreated primarily by the builder or qualified affiliates upon meeting the applicable trading volume requirements.Qualified affiliates can create codes after meeting the required trading volume (where applicable). Affiliates may only create one unique referral code.

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4. Coexistence of legacy affiliate program

This new affiliate program is a multilevel referral system which supersedes the legacy affiliate program. DEXs who have enabled the legacy affiliate program could choose to keep the legacy system or upgrade to the new one. If you are already an existing affiliate, please check with your respective DEX directly for details regarding the activation of the new program. Once activated by the DEX, you will be able to generate a new referral code under this system. Please note that all existing legacy referral codes will remain active, and you will continue to earn commission from them.

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5. Referral commission structure

DEXs assign a total commission rate to each L1L_1 affiliate. This assigned rate already includes all commission available to that affiliate and their downstream referral chain. These L1L_1 affiliates are the initial referrers who establish a multilevel network and do not report to any referrer above them. The builder or broker may also set a minimum pass-down rate. If this minimum is greater than 0, each affiliate is guaranteed to receive a commission share from trades executed by their direct referrals, and downstream assigned rates cannot be lower than that minimum.

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5.1 Affiliate commission

Affiliates receive their referral commissions from the builder fees shared by DEXs. This commission is paid out for every trade executed on the DEX. FeeBuilder=TradingFeeN−BaseFeeBuilder\text{Fee}_\text{Builder} = \text{TradingFee}_N - \text{BaseFee}_\text{Builder} where BaseFeeBuilder\text{BaseFee}_\text{Builder} depends on the builder fee tier of the DEX. L1L_1 affiliates may distribute a portion of their commission to their direct referees (L2L_2). This process can be extended further, as L2L_2 affiliates can further sub-divide their allocation to their direct referees (L3L_3), establishing a multilevel structure. This multilevel referral network can extend up to a total of 15 levels. Let XiX_i be the assigned commission rate at level ii. X1X_1 is the rate assigned by the DEX to the L1L_1 affiliate. Each downstream assigned rate must be no higher than the upstream assigned rate. If the builder or broker configured a minimum pass-down rate PP greater than 0, each downstream assigned rate must also be at least PP, for example X2∈[P,X1]X_2 \in [P, X_1]. If P=0P = 0, there is no minimum earnings guarantee. DEXs may assign different total commission rates to strategic affiliates based on their growth strategy. Your available commission range depends on the assigned rate passed down from the referrer above you. Affiliates can earn two types of commission:
  • Direct commission: earned when your direct referee trades. Your commission is calculated from your own assigned rate on that referral path; if the builder-set minimum pass-down rate is greater than 0, your assigned rate cannot be lower than that minimum.
  • Indirect commission: earned when a downstream referee trades through your referral chain. For a given path, you earn the difference between your assigned rate and your direct referee’s assigned rate.
For every trade executed by a user (LN)(L_N) on the DEX, the table below shows indirect commission for upstream affiliates and direct commission for the trader’s direct referrer:
RoleAffiliate commission rateAffiliate commission
L1L_1 affiliateX1−X2X_1 - X_2 where X2X_2 is within the allowed range(X1−X2)×FeeBuilder(X_1 - X_2) \times \text{Fee}_\text{Builder}
L2L_2 affiliateX2−X3X_2 - X_3 where X3X_3 is within the allowed range(X2−X3)×FeeBuilder(X_2 - X_3) \times \text{Fee}_\text{Builder}
L3L_3 affiliateX3−X4X_3 - X_4 where X4X_4 is within the allowed range(X3−X4)×FeeBuilder(X_3 - X_4) \times \text{Fee}_\text{Builder}
………
LN−1L_{N-1} user (direct referrer)XN−1X_{N-1} where XN−1X_{N-1} is within the allowed rangeXN−1×FeeBuilderX_{N-1} \times \text{Fee}_\text{Builder} — Direct referrer earns their assigned rate
Note: If the builder-set minimum pass-down rate is greater than 0, direct referrers earn at least that minimum rate from trades executed by their direct referrals.

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Example: 3-Level Referral Network

Consider a trade where Builder revenue for a given trade = $100, with the following commission rates:
  • Minimum pass-down rate P=10%P = 10\% (configured by the DEX)
  • X1=50%X_1 = 50\% (L1L_1 assigned rate)
  • X2=35%X_2 = 35\% (L2L_2 assigned rate set by L1L_1, where X2∈[P,X1]X_2 \in [P, X_1])
  • X3=25%X_3 = 25\% (L3L_3 assigned rate set by L2L_2, where X3∈[P,X2]X_3 \in [P, X_2])
Commission distribution for $100 Builder revenue:
RoleCalculationCommission
L1L_1 affiliate(50%−35%)×100(50\% - 35\%) \times 100$15
L2L_2 affiliate(35%−25%)×100(35\% - 25\%) \times 100$10
L3L_3 affiliate (direct referrer)25%×10025\% \times 100$25
Total distributed$50
In this example, when L4L_4 (the trader) executes a trade, L3L_3 earns their assigned rate of X3=25%X_3 = 25\%. Since the minimum pass-down rate is 10%10\%, L3L_3 is guaranteed to earn at least 10%10\% from direct-referral trades. The total distributed rate is 50%50\%. The L4L_4 trader does not earn commission from their own trade.

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5.2 Referee’s commission rate adjustments

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5.2.1 Default referee’s commission rate

Each referral code has a default commission rate for referees who use it to create an account on the DEX. The affiliate owning the code can update this rate, subject to the following rules:
  • The default rate can be adjusted up or down within the allowed range. It cannot exceed the upstream assigned rate available to the affiliate, and if the builder-set minimum pass-down rate is greater than 0, it cannot be lower than that minimum.
  • If the default rate is increased, only the direct referees using that default rate receive the additional available allocation. Indirect referees are unchanged.
  • If the default rate is decreased, the decrease is deducted from those direct referees’ earned commission first. If they cannot absorb the full decrease, the remaining decrease is deducted one level at a time down their referral chains until fully absorbed.
  • Already-settled historical commissions are not recalculated.

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5.2.2 Custom referee’s commission rate

Affiliates may customize the assigned rate for direct referees instead of using the default rate. Custom rates can be adjusted up or down within the allowed range. They cannot exceed the upstream assigned rate available to the affiliate, and if the builder-set minimum pass-down rate is greater than 0, they cannot be lower than that minimum. The same adjustment logic applies to custom rates: increases affect only the directly adjusted referee, while decreases are deducted from that referee’s earned commission first and then cascade downward only if needed. Already-settled historical commissions are not recalculated.
Example: Downward adjustment scenarios
Assume the builder-set minimum pass-down rate is 10%. The referral chain and assigned rates before the adjustment are: 
You -> L2 -> L3 -> Trader
NodeAssigned rateEarned commission on this trade path
You90%30% indirect commission, calculated as 90% - 60%
L2L_2 affiliate60%20% indirect commission, calculated as 60% - 40%
L3L_3 affiliate40%40% direct commission
Scenario 1: You lower L2L_2‘s assigned rate from 60% to 50%. The decrease is 10%. L2L_2 has 20% earned commission on this trade path, so the full decrease is absorbed by L2L_2.
NodeAssigned rate afterEarned commission after
You90%40% indirect commission
L2L_2 affiliate50%10% indirect commission
L3L_3 affiliate40%40% direct commission
Scenario 2: You lower L2L_2‘s assigned rate from 60% to 30%. The decrease is 30%. L2L_2 can absorb 20%, so the remaining 10% is deducted from the next downstream affiliate, L3L_3.
NodeAssigned rate afterEarned commission after
You90%60% indirect commission
L2L_2 affiliate30%0% indirect commission
L3L_3 affiliate30%30% direct commission