Our affiliate program allows an integrated partner protocol to earn referral fees on-chain for the liquidity it deposits to the vaults.
For our system to track the source of liquidity, we require the partners to
- Provide us with a partner wallet address to set up a partner account.
- Integrate with a separate affiliate partner program and pass in their partner wallet address when user deposit or withdraw from the vault.
Once set up and integration is completed, the yield layer will track any deposits or withdrawals into the vaults. Suppose we identify the user who initiated the deposit/withdrawal associated with the partner account. In that case, we will calculate the fee generated from the transaction and update the partner account with the new fees (that happens on-chain).
We will periodically transfer the outstanding accumulated fees to our partners off-chain. (Schedule of fee distribution to be confirmed at a later date)