KuCoin Referral 2.0 AMA — New Rules, Now Icon, Double Rewards

2022/06/07 10:55:24

Dear KuCoin Users,

Time: June 1, 2022, 12:00 PM - 12:49 PM (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the Chief Product Operations Officer of KuCoin Referral 2.0, Lucas, in the KuCoin Exchange Group.

Project Introduction

KuCoin Referral Program is a return to all our loyal users who also recommend KuCoin to others.

The program aims to provide an easier referral system where users can earn stars through referrals, and stars can be exchanged for prizes. KuCoin Referral Program launched its open beta testing on November 25, with 10 prizes waiting for you to unlock.

Official Website: https://www.kucoin.com/referral

Announcement: https://www.kucoin.com/news/en-invite

Guest:

Lucas — Chief Product Operations Officer of KuCoin Referral 2.0

Q&A from KuCoin

Q: What is the KuCoin Referral Program?

Lucas: KuCoin Referral 2.0 is a project launched by KuCoin at the end of 2021 that helps everyone generate a referral code, which you can check on the referral landing page. You may go directly through this link.

If you haven't been to this page, you can check it out now.

You can also check it in your browser.

You can let new users enter your code when they register to make them become your invitee. You may also directly let them register through your referral link.

A referral link means a registered link with a referral code at the end. Take this as an example.

When the invitee registers, deposits funds and completes trading, they will provide stars to their inviter. The star can be used to exchange for treasure chests, which contain USDT and a certain number of random tokens.

At the same time, those who registered using a referral code will receive a discount on trading fees.

Q: What are the new rules of Referral 2.0?

Lucas: In the new rules, deposit tasks will not be able to be completed through internal transfers and receiving red envelopes. We found that many cheating users use the way I mentioned to illegally accumulate stars, which is unfair to normal users.

In the same way, the trading action of the invitee who only deposits through internal transfers and red envelopes cannot complete the trading tasks.

Q: How will the new rules affect inviters and invitees?

Lucas:

For inviters

Even though you send red envelopes to your friends, you still need to encourage your friends to recharge independently before trading. Or, after your friends use the funds from the red envelope to trade, encourage them continually to deposit more assets and trade.

For invitees

The change of the rules does not affect the invitee. The invitee only needs to register, deposit, and trade as a normal new user.

Q: Have the rules gotten tougher for inviters?

Lucas: It will be quite more difficult than before, but correspondingly, we can provide more rewards to real inviters with such changes in the rules. With the rules before, we found many users cheat. So we can not provide a good reward to all inviters.

In Referral Program 2.0, we are confident that there will be little to no cheating users, which only means that we can greatly increase the referral rewards.

Q: How is the reward doubled?

Lucas: The rewards for the deposit, Spot Trading, and Futures Trading were all seven (7) stars in the past. However, after the launch of 2.0, we adjusted the rewards of all three tasks to fifteen (15) stars.

In the KuCoin Referral 2.0, a single invitee can now accumulate fifty-five (55) stars in total. It is equal to 2.75 USDT. A great inviter can invite 30 new users per month and earn eighty-two (82.6) USDT. That is extra income!

Q: Will there be more rewards in the future?

Lucas: There will be more soon! We have repeatedly adjusted the star rewards to block cheaters but with little success. Therefore, the launch of Referral 2.0 has made a big adjustment to the rules. As a result, we will do many things in the early stage of the new referral program.

If these rules work well in blocking the cheaters, we will continue to increase the rewards substantially.

Q: Will there be more uses for stars?

Lucas: We are also planning a new application scenario for stars when users have the opportunity to use a small number of stars to win big rewards or exchange for other value-added products where you are interested.

Q: Some users' feedback is that they did not receive stars after their invitees completed the task. What is the reason?

Lucas: Our basic policy is to give zero (0) stars to cheating users. So if your invitees complete the tasks, but you still have no stars, you may be judged as cheating by the system.

If you did not cheat, please go to the customer service, explain the situation, and if not proven guilty, we will give you the stars accordingly.

Q: What is "cheating users"?

Lucas: There are many ways to cheat. The most common way is to use their referral code to register multiple fake accounts. Then, they will accumulate stars by using those fake accounts to complete the tasks.

We already identified some of the cheating methods before and made an adjustment.

Free-Ask from KuCoin Community

Q: Since NFT is popular nowadays, is there a plan for NFT integration?

Lucas: Yes. The stars from the referral can be exchanged for NFT in the near future. We also have plans to launch NFTs belonging to the Referral Program!

Q: I want to sign up my friends. Will you have a campaign that includes deposits and withdrawable rewards?

Lucas: Yes. We have just wrapped up an event called "Treasure Coin Carnival", which will give inviters extra rewards. At the same time, we will launch our campaign entitled "New Welcome Bonus" in the near future.

Q: How many rewards can we be able to claim from the KuCoin Referral 2.0? Is there a referral limit per account?

Lucas: You can refer to five (5) users per day and thirty (30) users per month. If you want to invite more, you might want to see our "Affiliate Program."

Q: Do you have any tutorial videos?

Lucas: Nothing yet. Though it's a good reminder, we'll be ready right away.

Q: Do you have any other ideas to improve the referral program that is being developed?

Lucas: It will be about the rewarding system. But, on the other hand, it has a fun way to play. More importantly, KuCoin itself will continue to improve, so the inviters have a direct reason to invite more friends. So I can say that KuCoin is awesome!

Giveaway Section

KuCoin and KuCoin Referral 2.0 have prepared a total of 300 USDT to give away to AMA participants.