Page last updated: December 29, 2021

Solana Referral Program Terms & Conditions

Lido Referral Program for Solana was launched on Dec 30th 2021 by the Lido DAO based on the following proposal.

The goals of the Lido Referral Program on Solana are to boost Lido growth on Solana by integrations with top wallets/protocols, to bring effortless liquid staking benefits to the users, and to contribute to the decentralization of the Solana network through spreading a stake across a diversified pool of quality validators.

The Lido DAO controls the full life-cycle of the referral program including but not limited to launch, defining total rewarding pool, allocating rewards for each period, pausing, resuming or stopping the Program at any time.

Overview

The whitelisted referrals get rewards for their referees holding at least 10 stSOL in any supported way (including LP tokens) for at least 50 days. The maximum reward is 1% payback from the staked amount which would be allocated for the 50 days of holding the full amount. The reward is dynamically calculated from a sliding window median of held stSOL during the period. Rewards are allocated to referrals accounts monthly.

All details are provided in the conditions below.

Conditions

1.

Only whitelisted referrals participate in the Referral Program and get rewards (good candidates are top wallets/protocols with reputation, big volume and userbase).

2.

A whitelisted referral has an associated Solana wallet address.

  • All the staking that is done with whitelisted referral's address as a parameter via Lido staking widget or Lido staking protocol will be counted as a referee staking.
  • Whitelisted referral's address will be used to allocate the referral rewards.

3.

Whitelisted referral's address will be used to allocate the referral rewards.

4.

The minimum rewarding period is 50 days. A referral would be rewarded only for the referee who was holding stSOL in any form (on supported platforms) during at least 50 days. In other words, If a referee stopped holding stSOL (sold, swapped, transferred to another address) earlier than 50 days related referral would not be rewarded.

5.

The minimum rewarded holding amount per referee is 10 stSOL. While the referee is holding ≥ 10 stSOL referral reward would be dynamically calculated but while the held amount is < 10 stSOL there is no reward accrued.

6.

The maximum reward is 1% payback from the total amount staked by the referee. Rewards are calculated dynamically based on the sliding window median during the period with the maximum possible reward of 1% payback for 50 days of holding.

7.

The referral rewards are paid in wLDO (based on SOL/USD and wLDO/USD 30 days TWAP). The minimum reward amount is 0.1 wLDO and the maximum reward amount is 1 wLDO per 1 SOL staked.

8.

Referral rewards are allocated to the referral address monthly. The referral will get rewards for a particular referee at the next payout after 50 days from his/her initial stake.

9.

The Lido Referral Program does not have any timeframe. The Program ends when there are no more tokens in the Reward Pool (i.e., the total amount of wLDO tokens that can be distributed to participants of the Program) or when the DAO makes an active decision to cancel it.

10.

The Lido DAO can stop, pause, and resume the Program at any time.

11.

The Lido DAO determines the size of the Reward Pool, amount and terms of the LDO Token Reward, and can change them at any time.

12.

The Lido DAO can at any time change the operating conditions of the Lido Referral Program.

Whitelisting

Lido referral program on Solana is open for top wallets/protocols on Solana to join as referrals. To apply or propose a candidate post message on the governance forum at the Solana referral program thread.

Reward pool

Currently, referral programs on Solana and Ethereum are sharing the same rewarding pool on 15 million LDO initially allocated from DAO treasury. Pool size and related changes are managed by Lido DAO.

Denying rewards

There is a list of the rules breaking that leads to denying the rewards and potentially removing the referral from the whitelist:

  • Actions that are directly or indirectly negatively affecting Lido, its economics, security or reputation.
  • Any kind of abusive behaviour
    • Cycle staking (trying to use the same amount of SOL to repeat the reward by unstaking and staking it again)
  • A suspicion that staked SOL are the proceeds of crime (e.g., hack).