> For the complete documentation index, see [llms.txt](https://docs.perpl.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.perpl.xyz/exchange/referrals.md).

# Referrals

Perpl is invite-only. Every user on the platform got here through a referral, and every active trader can become a referrer.

The referral system is designed to reward one thing: bringing in traders who trade.

***

#### How It Works

Access requires a valid referral code, which you earn by trading. When someone joins using your code and trades, you earn a share of their fees. When *they* refer someone who trades, you earn from that too.

<figure><img src="/files/RhQKl1WKD3PV7vxA4WnG" alt=""><figcaption></figcaption></figure>

***

#### Earning Invite Codes

Invite codes are earned based on your trading volume on Perpl:

> **1 invite code per $200,000 in trading volume**

The more you trade, the more invites you unlock. There's no cap.

***

#### Referral Rewards

Your referral network has two degrees:

* **First-degree** — traders who joined using your invite code
* **Second-degree** — traders who joined using your referrals' invite codes

You will earn:

* **10%** of trading fees from first-degree referrals
* **5%** of trading fees from second-degree referrals

Both the referrer and the referee also earn a **points bonus**. Each side earns an extra 5% on the referee's trading points.

Epoch snapshots are taken every Wednesday at 16:00 UTC. Transfers are processed biweekly. Circumstances permitting.

***

#### Tracking Your Referrals

Track your active referrals, cumulative earnings, and invite code usage on the referral page:

[app.perpl.xyz/referrals](https://app.perpl.xyz/referrals)

***

#### Summary

|                   |                                         |
| ----------------- | --------------------------------------- |
| Access            | Invite-only                             |
| Invite codes      | 1 per $200,000 in trading volume        |
| 1st-degree reward | 10% of fees, per referral               |
| 2nd-degree reward | 5% of fees, per referral                |
| Payouts           | Bi-weekly, within 3 days of each Monday |
| Tracking          | Live on the Referrals page              |


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.perpl.xyz/exchange/referrals.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.