> For the complete documentation index, see [llms.txt](https://docs.punch.win/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.punch.win/getting-started/referral.md). # Referral Invite friends to PUNCH.WIN and earn a share of their trading fees, with no set end date. The friends you invite get a discount on their own trading fees, too. {% hint style="info" %} Referral rewards, discounts, and balances are all in **USD (ONEUSD)**. {% endhint %} *** ## What you get | Who | Benefit | | ---------------------------------- | ---------------------------------------------------- | | **You (referrer), direct invites** | **40%** of the trading fees your direct invitees pay | | **You (referrer), second level** | **10%** of the trading fees *their* invitees pay | | **Your friend (referee)** | **10% off** their trading fees | * Two levels: people you invite directly (**Level 1**), and the people *they* invite (**Level 2**). * No time limit and no cap. Invite as many people as you like and keep earning as long as they trade. * Everyone earns at the same rates.

Your network. See each referee's level, volume, fees paid, and the rewards they earn you.

### Example If someone you invited pays **10 USD** in fees on a trade: * Their 10% referee discount brings it to **9 USD** actually paid. * You earn **40% → 3.6 USD** as their Level 1 referrer. * If instead they were invited by one of *your* invitees, you'd earn **10% → 0.9 USD** at Level 2. *** ## Create your referral code 1. You need at least **10 ONEUSD** in cumulative trading volume to create a code (this keeps bots from grabbing names). 2. Choose your code: **4–16 characters**, letters (A–Z) and numbers (0–9). It's not case-sensitive, so `kimchi` and `KIMCHI` are the same code. 3. Your code is **unique across PUNCH.WIN**, one per wallet, and **can't be changed later**, so pick carefully. > A few names are reserved (anything that impersonates the team or brand, or looks like an official promotion) and can't be used. **Share it.** Copy your code, share your link (`punch.win/r/{your-code}`, which fills the code in automatically), show a QR, or post to X.

Your code, link, QR, and Share on X, plus your traders referred, lifetime earnings, and claimable rewards.

*** ## Register a friend's code Registering a code is how you become someone's referee and start your 10% discount. 1. Open your friend's referral link (the code fills in automatically), or click **Enter Code** and type it in. 2. Confirm to register.

Enter a code to get 10% off fees. One code per account, and it can't be changed later.

Key rules: * **One code per wallet, and it's permanent.** You can't change or remove your referrer once it's set. * You can't register **your own** code, and **circular** referrals aren't allowed (you can't register a code from someone in your own downline). * Your **10% discount starts immediately** and applies to trades **after** you register. It isn't applied to fees you paid before. * While active, your discount is shown as: `Referred by {code} | 10% fee discount`. Once you meet the code-creation requirement, you can also make your own code and start inviting others. *** ## Rewards & claiming * Rewards come from the fees your invitees **actually pay** when they trade. A referee who never trades earns you nothing. * They accrue **in real time**; your dashboard updates as your invitees trade. You can see your balance and history split by Level 1 and Level 2. * **Claim once your balance reaches 10 ONEUSD.** * Claims pay your **full balance** to your platform balance, instantly and with no fee. * Rewards that have already been earned are never reversed. {% hint style="info" %} The current rates, discount, and duration are the current program terms and may change. Any change applies only to trades **after** the change. Rewards already earned or paid are never affected. {% endhint %}