The INLEO referral program has been a long-time in the making. We actually introduced Referral links earlier this year. Through that time, many have asked when we would add a dashboard + incentives to supercharge the growth of our ecosystem.
Our MAUs are currently growing nearly 20% month-over-month. We've been aiming to further improve these numbers as we chase 10,000 Monthly Active Users by December of this year.
Getting there will not be an easy path, but we know that it is achievable. The INLEO platform continues to improve both in terms of feature set and stability. We're adding so much to the platform while also ensuring the user experience is top-notch.
New Referral Program
Referral Programs have been one of the most effective tools for growing network effect-based businesses. INLEO is no different.
A referral program can supercharge the growth of our platform and bring in tens of thousands of monthly active users. It's like wildfire. Once you spark some initial traction, the effect becomes contagious and spreads incredibly fast.
The new dashboard allows you to copy your referral link and also track all the referrals you've made and the earnings from those referrals.
I haven't seen anything quite like this in the Web3 space and I believe that if we can get the right momentum in place, we'll see a massive spike in our ability to onboard and retain new users.
Putting it All on the Hive Blockchain
At INLEO, we believe in putting as much on-chain as possible. We store and retrieve as much of our data from the Hive Blockchain as possible.
Our approach for this can be seen in so many aspects across the ecosystem that we've built. Whether it's accepting HBD and building a Premium Subscription model directly on-chain, Threads, Polls, the upcoming LeoAI (which is trained on all Hive Blockchain Data) or any of the other dozens of ways we aim to put data on the Hive Blockchain, our motto stands: Lions Put it All On-Chain.
With our Referral Program, your code is actually your hive blockchain username.
To earn referral rewards, you get a small amount of LEO when a user signs up. Then you get an increasing amount of LEO based on the referred account's on-chain activity. As their On Chain Activity increases, you earn more LEO rewards as the person who referred them.
Referral Rewards
To the juicy details (this is what you really opened this post for, amirite?).
As stated above, you get a small amount of LEO (10 LEO) for any new user who signs up for a Hive Account on INLEO using your Referral link.
From that point forward, the referred account is added to your Referrals Dashboard. You can actually track their activity (# of Threads, # of Blog Posts, IF Ever Premium) from your Dashboard.
This encourages you to encourage them to get more active. As they get more active, you earn more rewards.
This has a big implication on Retention. More on that below.
Here's a chart of how rewards are paid for new referrals. As the referred user makes more threads and blog posts, you as the referrer will earn more LEO.
If the user becomes a Premium Subscriber to INLEO for 1 month, you also get 100 LEO. If they sign up for a yearly Premium Subscription, you get 500 LEO.
This leads into the sustainability of this referral system. You can earn plenty of rewards simply for signing up new users and encouraging them to be active on-chain, but to maximize the rewards you earn - you actually want them to go for a Premium Subscription.
Since 100% of premium subscription revenue buys the LEO token and perma-pools it, this creates a nice sustainability loop for this Referral System model.
Retention
Onboarding a new user is 75% of the challenge. It's very difficult to get a new user signed up and then encourage them to use the platform to any degree. It's vital that we create easy, quick wins so that users feel encouraged to try something new.
I don't need to tell you that it's scary to try new things. Most people hate change and they hate venturing into the unknown. They don't want to look foolish and they don't like things that they don't understand.
We need quick wins for those people to simply get started.
From there, 25% of the game is retention. How do you keep the new signup coming back and staying active on the platform?
One of the best ways to do this is social pressure. Pressure can be positive or negative. With the way we've designed this referral system, positive social pressure can be applied by the user who referred another user.
The user who's referring people now has a deeply entrenched incentive to see that user come back regularly, create threads & blog posts and even consider investing in a Premium Sub (and an investment in that would lead to a snowball of activity... as buying into something gives you a vested interest).
We've instilled a lot of positive feedback loops here and the dashboard makes it stupidly easy to track and check-in with your referred frens.
Now LIVE!
If you're reading this, then the new Referral Program, Dashboard and Incentives are now live.
You can head over to INLEO's Referral Dashboard, copy your ref link and start sharing it to your friends and on social media.
The more people you onboard and get active, the more you'll earn.