Author Topic: Proposal - Permit non-LTMs to be referrers  (Read 2530 times)

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Offline abit

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This shouldn't require a proposal.  I just read the membership page on OL and the registrar can split the 50% fee between itself and affiliates.  I don't think OL is using the affiliate option right now? 
OL IS using the affiliate option. However affiliates are required to be LTMs to be able to refer others (the limitation described in OP).
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Offline merivercap

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This shouldn't require a proposal.  I just read the membership page on OL and the registrar can split the 50% fee between itself and affiliates.  I don't think OL is using the affiliate option right now? 

All you need to do is set up a wallet/faucet yourself to do that already.   You can set the split however you want, but if you are a faucet/wallet you have to create a wallet with a good user experience, host a witness node and if you get popular you have to pay cloud fees.

We plan to do a 0% registrar/ 50% affiliate split.  LTM's will get 30%.  LTM's will be able to get up to 80% and regular members 50%.

If we reduce network fees to 0%, LTM referrers can get 100%.   Hmm... in this scenario I would like affiliates to get 50% and LTMs 50%.   I'm all for supercharging the referral program. 
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Offline Empirical1.2

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 +5% It makes no sense that only LTM's can become referrers imo. So we should change it if possible.

We want everybody who uses BitShares to be able to give a link to their friends, family and colleagues and if they sign up they get the referral income. No need to understand/pay for anything.

Open a BitShares account, share this link, earn money. 

Look at the Coinbase referral programme as an example.. https://support.coinbase.com/customer/portal/articles/683805-how-does-the-coinbase-referral-program-work-

They don't expect you to pay money to become a referrer, that would severely limit it's use & success.

What's also interesting is that the Coinbase referral programme started at $25, then trialled $75 and is now down to $10.

This shows that changing the initial parameters isn't the end of the world and that while a referral programme is a great marketing tool,
sometimes less is more in terms of balancing cost to Coinbase and the returns.

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Offline donkeypong

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If the non-LTM could get a smaller percentage from referrals, it might encourage them to go LTM to get a bigger piece of the pie once they see it working.
This makes some sense.
For example LTM get 80% from referred user, non-LTM get 30% from referred user and unable to claim until upgraded to LTM.
+5%
Now it makes sense.

That would be OK with me also. Just maintain some incentive for users to become LTM.

jakub

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If the non-LTM could get a smaller percentage from referrals, it might encourage them to go LTM to get a bigger piece of the pie once they see it working.
This makes some sense.
For example LTM get 80% from referred user, non-LTM get 30% from referred user and unable to claim until upgraded to LTM.
+5%
Now it makes sense.

Offline abit

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If the non-LTM could get a smaller percentage from referrals, it might encourage them to go LTM to get a bigger piece of the pie once they see it working.
This makes some sense.
For example LTM get 80% from referred user, non-LTM get 30% from referred user and unable to claim until upgraded to LTM.
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TravelsAsia

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If the non-LTM could get a smaller percentage from referrals, it might encourage them to go LTM to get a bigger piece of the pie once they see it working.

Offline abit

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yes, and then everyone refers their own accounts and marketers get nothing. but go for it, if you guys add 0 fees you might as well give this project the final blow
If one register a new account which referred by herself, she won't actually save money until she upgrade the first account to LTM (to be able to withdraw from cash-back object), which will give the original referrer/marketer 80% of upgrading fee, so it's not "nothing" but "only thing". However this upgrading would come after a long period, or even never, so yes in this case the original referrer will get nothing.
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Offline xeroc

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yes, and then everyone refers their own accounts and marketers get nothing. but go for it, if you guys add 0 fees you might as well give this project the final blow

How did you get everyone refers their own accounts from that?
Thats actually technically impossible because you cant put an accounts name into the referrer that does not yet exist [emoji14]

Offline BunkerChainLabs-DataSecurityNode

yes, and then everyone refers their own accounts and marketers get nothing. but go for it, if you guys add 0 fees you might as well give this project the final blow

How did you get everyone refers their own accounts from that?
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Offline fav

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yes, and then everyone refers their own accounts and marketers get nothing. but go for it, if you guys add 0 fees you might as well give this project the final blow

Offline BunkerChainLabs-DataSecurityNode

Currently only LTMs can refer new users and earn referral income, which set a high barrier for attracting new users, and lead to bad PR. Imo we need to break this barrier, let non-LTMs be able to refer new users, which will be better PR. In the mean while, if needed, we can set other limitations, for example only LTMs can claim referral income.

But this idea weakens the purpose of buying LTM in the first place.
The smaller the difference between non-LTM and LTM, the harder it is to sell to anybody.

I was the one that brought this up :) .. as I recall the idea was to make it so that new users before they became LTM would still be able to refer new users and be able to benefit during that period instead of missing out. It was thus 'give a taste' for them to be more motivated to want to go further.

This was mentioned along with other ideas about possibly making a type of 'demo' or 'free' account for a period of time. I call it the drug dealer special.. banks use the same type of technique. You give them a free taste.. get them hooked.. get them paying.

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Offline mindphlux

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I think there should be incentive for the LTM program - that includes the ability to use advanced features of the network, including referring new users, using the bond market, stealth transactions etc. All that can come in addition to the actual reduced fees.
Please consider voting for my witness mindphlux.witness and my committee user mindphlux. I will not vote for changes that affect witness pay.

jakub

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Currently only LTMs can refer new users and earn referral income, which set a high barrier for attracting new users, and lead to bad PR. Imo we need to break this barrier, let non-LTMs be able to refer new users, which will be better PR. In the mean while, if needed, we can set other limitations, for example only LTMs can claim referral income.

But this idea weakens the purpose of buying LTM in the first place.
The smaller the difference between non-LTM and LTM, the harder it is to sell to anybody.

Offline pc

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