Author: @JZ
Date: 2022-01-26

Synopsis#

Set up a referral program to incentivize people to refer new people to create Juicebox projects

Motivation#

• Drive growth: Juicebox has a strong community with a great product, there could be huge potential to unlock project creation growth if we deploy a referral program
• Drive project success: with the right model, a referral program can incentivize project onboarders to help projects raise funds post-launch

Specification#

• Create a juicebox project for Juicebox referral trial: https://juicebox.money/v2/p/410
• Deposit 3000 USD worth of ETH to the Juicebox referral project trail
• If the ETH isn’t rewarded within first 4 month, put it back to Juicebox treasury

Overview

• Anyone can generate a unique referral link
• There is no limitation of how many referrals each person can generate
• To be treated as a referral, the referee needs to create a juicebox project on juicebox.money that raised at least 0.5 ETH.

Reward structure

• For affiliates/referrer: 10% of the JBDAO fee collected from the referred project for the first 4 months
• For Qwestive: 1% of the JBDAO fee collected from the referred project for the first 4 month as platform commission fee (Details see in Fee for Qwestive section)
• Rewards will be distributed once every 2 weeks

Fee for Qwestive

• Unlimited referrals
• No upfront cost, pay-as-you-go model, 10% commission of rewards sent to affiliates. (e.g. if there are 0.1 ETH rewards sent to affiliates, Qwestive will have a fee of 0.01 ETH)
• Qwestive will create a juicebox project as one of the payout address on the juicebox referral project, calculate the fee for distribution

Video demo:

https://www.loom.com/share/00259b4eeaed47fba64be81a186c667e

Pitch:

https://www.canva.com/design/DAFXTeyOX6s/lTed4338tZ56oEiwr1LKcQ/edit?utm_content=DAFXTeyOX6s&utm_campaign=designshare&utm_medium=link2&utm_source=sharebutton

Questions#

1. How would the implementation looks like?
   1. The only work will be injecting a script and send us an event when the referee connect the wallet. On the other hand, Qwestive team will also happy to do a PR for peel to review as well if it makes things easier
2. How would JBDAO handle distribute reward to the affiliates?
   1. There are 2 options
      1. Option 1: Use disperse - Rewards can be distributed once every funding cycle via disperse to list of affiliates & rewards. In the meantime, Qwestive will be implementing similar feature on Qwestive platform directly, which should be ready around mid/end of Feb
      2. Option 2: Use juicebox project to distribute rewards - A project can be created on Juicebox, and JBDAO to fund it for some smallish budget ($3k). if the eth isn't rewarded within 4 months, put it back in the jbdao treasury. The reward can be distributed once every 2 weeks, just adding all affiliates wallet & reward amount in distribution list
   2. I will recommend go with option 1, as Qwestive will implement the reward distribution feature inside, so a multi sig solution can work better, without no extra work to manually logging the referral reward every 2 weeks

Rationale#

With 10% of JBDAO fee for the first 6 month, it can create the incentive to get referrers to continuously help projects be active and raise funds.

Risks#

There could be a case that project creators game the system and refer themselves, however we do have the practice to mitigate this:

1. The reward distribution is not automatic, so there are time to stop the reward if we identify something suspicious
2. Qwestive is also developing practice like device fingerprints, to make sure it will be flagged if someone refer themselves

Bottomline is even this happen, it will still be ROI positive activities

Timeline#

Qwestive plan to get launched on ETH around mid~end Feb, once the proposal passes, we will start planning the implementation