Beyond Points: The New Apyx Referral Program Is Live
Apyx is launching a new referral program designed around ongoing balance-based rewards rather than a simple points mechanic.
Summary
Most referral programs in DeFi are built around temporary point incentives. They can drive short-term attention, but they often say little about the value that actually remains in the ecosystem once a campaign ends. Users chase points, activity spikes for a while, and the link between referral rewards and retained balances is often weak.
The Apyx Referral Program takes a different approach. It is a balance-based referral system designed to reward participation that remains in Apyx over time. Rather than relying on a one-time sign-up bonus or campaign-driven points, it ties rewards to the eligible balance that referred users bring into the ecosystem. As long as that eligible balance remains in Apyx, the referrer can continue earning apxUSD-denominated rewards under the program rules.
The result is a model tied more closely to retained participation, balance growth, and longer-term value within the Apyx ecosystem.
Note: The current Apyx Points Program remains unaffected and referrals prior to the launch of the Apyx Referral Program will be counted towards future rewards.
How Referral Rewards Are Earned
Eligible users can access a unique referral link through Apyx interfaces. When a new user connects through that link and is successfully attributed under the program rules, the referral relationship is established.
The program supports up to three levels of attribution:
- L1 for direct referrals
- L2 for the referrer of the L1 participant
- L3 for the referrer of the L2 participant
Once attribution is established, rewards accrue based on the referred user’s eligible balance in Apyx, as tracked by Apyx under the program rules. Those rewards continue to accrue for as long as that eligible balance remains in place.
Referral rewards are calculated using three variables: the referred user’s eligible balance, the applicable annualized rate, and the length of time that balance remains eligible. In simplified form:
Accrued Amount = Eligible Balance × Applicable Annualized Rate × (Elapsed Time / Year)
The current annualized rates are shown below:
For L1 referrals, the applicable rate depends on when the qualifying balance first became eligible. The key milestone is the point at which total apxUSD supply first reaches or exceeds $100 million. Once that happens, the transition is permanent. Balances that qualified before that point continue under the pre-threshold treatment, while balances that first qualify afterward follow the post-threshold rate. This does not reset if total apxUSD supply later falls below $100 million.
L2 and L3 rates remain the same on both sides of the threshold.
A Quick Example
Case 1. L1 referral before the threshold
If an L1 referred user maintains $100,000 of eligible balance for one full year while the pre-threshold rate applies, the accrued amount would be:
- $100,000 × 1.00% × (365 / 365) = $1,000
In that case, the referrer would accrue $1,000 in apxUSD over one year.
Case 2. L1 referral after the threshold
If an L1 referred user maintains $100,000 of eligible balance for one full year after the threshold has already been reached, the accrued amount would be:
- $100,000 × 0.25% × (365 / 365) = $250
In that case, the referrer would accrue $250 in apxUSD over one year.
Case 3. L2 referral
If $100,000 of eligible balance is attributed at L2 for one full year, the accrued amount would be:
- $100,000 × 0.04% × (365 / 365) = $40
Case 4. Balance changes over time
If an L1 referred user maintains $100,000 of eligible balance for the first 90 days, then $60,000 for the next 90 days, while the pre-threshold rate applies, the accrued amount would be:
- ($100,000 × 1.00% × 90 / 365) + ($60,000 × 1.00% × 90 / 365) = about $394.53
This means accrual increases when eligible balance increases and slows when eligible balance decreases.
Claims and Settlement
Accrued rewards may be claimed in apxUSD through a claim-based payout flow.
To receive payment, a participant must:
- have a claimable balance at or above the minimum claim amount ($1,000 in apxUSD equivalent value)
- submit a valid claim through Apyx interfaces
- satisfy any applicable compliance requirements
Amounts below the minimum claim amount continue to roll forward and do not expire simply because time passes. Once the minimum claim amount is met or exceeded, a three-month claim window begins for the then-current unclaimed balance.
If eligible amounts are not claimed within that period, they may expire in accordance with the program terms.
Attribution, Tracking, and Eligibility
Attribution is established when a user connects through a valid referral link and is successfully recorded under the program rules. Subject to Apyx’s anti-fraud and error-prevention controls, the first valid attribution is generally treated as fixed for that user.
As with other parts of the Apyx ecosystem, participation and payout are subject to eligibility requirements and compliance review. That may include jurisdictional restrictions, sanctions screening, identity or business verification, source-of-funds review, tax documentation, or other controls required for participation or payment.
Conclusion
The Apyx Referral Program is designed to reward users who bring meaningful participation into the Apyx ecosystem.
Apyx is building around onchain dollar liquidity backed by Digital Credit. Within that model, referral incentives should do more than drive short-term attention. They should reflect the balances and participation that remain in Apyx and help strengthen the ecosystem over time.
By tying rewards to eligible balance and time in the ecosystem, the program is designed to align referral incentives more closely with the way Apyx itself grows.
This post is an overview of how the program works and is intended for informational purposes only. The program is governed exclusively by the Referral Terms of Service. Where this post and the Terms of Service conflict or are inconsistent, the Terms of Service will control in all respects. Full details on attribution, accrual, thresholds, claims, compliance requirements, and payment conditions are set out there.