We are excited to announce that Auquan is launching a new referral system. This new system will allow you to be rewarded for inviting people onto our competition, who later go on to win prizes.

The idea is simple.

Instead of just rewarding you for the people you invite, we will also reward you for the people your invitees invite, and their invitees, and so on. The diagram below gives an example of how it might work. Mo, Sid and Pooja are winners of certain cash prizes and we can see how that would lead to you earning $112, without doing any work yourself.

Here you can see that ‘You’ didn’t invite anyone who directly won, so in most referral schemes you would be out of luck. However, with our fairer system, you are rewarded for your connections because they led to people submitting correct answers. Congratulations!

The formula for your reward is: R = P * 0.1/2^(n) 

     where: R = your reward

            P = the winner’s prize

            n<5, n = the number of people between you in the referral chain

This table shows how much you would earn if someone in your chain won a prize of just $1000. It also shows how many people could win you money if everyone just invites 5 of their friends or colleagues.

In theory, we could let this go on indefinitely, but we’ve decided to limit the chain length to 5. This will limit the overheads for our accountants, who wouldn’t thank me for making them pay 100 people <$1 prizes.

Some of the finer print:

  • People must be invited and signup using the invite a friend system (found on all competition homepages). Otherwise, we won’t be able to attribute your invite. This also means each person can only be invited by one person.
  • You cannot invite yourself and you must not break any of our general platform rules.
  • Chains are limited to 5 people, as explained above. 
  • This promotion only applies to cash prizes
  • We will only pay out prizes of greater than $5
  • We initially intend to run this promotion until 31/12/2020, but reserve the right to stop this promotion at any time (we also might extend it!).
  • Prizes are awarded at our sole discretion. For example, any evidence of trying to manipulate the system for unfair personal gain will result in your immediate disqualification from all payouts.
Categories: Documentation

David

I'm the community lead at Auquan. Feel free to message me if you get into any problems. A fun fact about me is I actually studied medicine at university.

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