How Projects are Revolutionizing Crypto Staking Through Referral Programs

Once reserved for the pros in the crypto space, staking has become a common practice across all participants in the space. Today, anyone has an opportunity to earn passive income on their crypto assets in just a few clicks, whether on a centralized exchange or DEX. Over the past two years, centralized exchanges such as Binance and Coinbase have introduced staking to their users, compelling decentralized exchanges, or DEXs, to follow suit.

At the height of the DeFi boom in 2021, over $110 billion in value was locked on decentralized platforms as staking became one of the most lucrative ways to earn passive income and relish returns on investment. On January 3, 2022, Ethereum 2.0 crossed the $34 billion mark in total value staked, showing a possible continuation of the explosive growth this year. Despite the growth, many platforms only offered staking rewards as the only viable passive income strategy for their users. One DEX, Hashbon, aims to change this by adding a reward system that complements staking with them – the staking referral program.

Hashbon, one of the first cross-chain DEXs, announced the launch of their own staking program, “Hashbon Rocket”, last December to give HASH holders an opportunity to earn the highest possible APY and APR among all the available staking opportunities. Midway through the month, the ‘Hashbon Rocket Staking Referral Program’ launched, providing all HASH holders with an additional revenue stream.

Following a wonderful reception to the staking program in the past month, Hashbon DEX extended its earning possibilities through the first-of-its-kind staking referral program. The Hashbon Staking Referral Program allows people to invite their friends and family to the platform and earn 10% of their friends’ staking earnings. According to a statement, every HASH staker can simply share their referral link with their friends and family and earn 10% of the rewards the referral makes during staking.

Hashbon offers users a fast, secure, and cheap platform to swap tokens across multiple networks, supporting newbies in their journey into decentralized finance (DeFi). Apart from staking and DEX, Hashbon also offers users a payment gateway that will let merchants accept payments in over 30 cryptocurrencies with 0% commission. The latest referral program joins a host of earning programs on the platform including being an arbiter for Hashbon Rocket, who votes for the transactions.

Unlike other staking platforms, Hashbon offers both ERC20 and BEP20 token staking. Users can stake their HASH tokens on Unifarm or the BSC chain to receive their rewards. The longer the staking period, the higher the APR. According to the company’s statement, any user barring U.S. citizens can participate in the staking or referral programs. The platform’s smart contract and token code are audited by CertiK to protect them from manipulation or hacks, which could lead to the loss of users’ funds.

As explained above, referrals look to be the next big breakout in the crypto staking space. With every project offering “high APRs”, referral programs give a standout appeal to new users, while being the most effective way to generate leads to the projects. According to Forbes, referrals is the most efficient marketing and sale tactic that generates the highest ROI.

As the crypto staking field grows by the day, rewarding users with referral bonuses could be a sure way to grow your community. According to Grigory Bibaev, CEO and Founder of Hashbon, referrals are key to the growth of the DEX, staking program, and payment gateway. Finally, the platform aims to “satisfy the community’s CeFi and DeFi cravings” by offering new rewarding opportunities for every user joining the platform, Bibaev added.