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Referral Program

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Reward System

There are two ways to earn rewards on Merlin: trade yourself, or invite others. Every trade you make earns you back a slice of the fee as cashback. The more you trade, the higher your tier, and the bigger the cashback. See Cashback for tier details. Inviting traders is the second path. When someone signs up via your link and starts trading, you earn a commission on their fees. And from anyone they invite β€” two more levels deep.

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How it works

Three-tier referral structure: 30% direct, 3% indirect, 2% third-tier When someone signs up using your referral link or code, they become a Direct (L1) referral. Any users they invite become your Indirect (L2) referrals, and so on for one more level (L3).
Commissions are paid on net fees β€” the trader’s gross fee after their personal cashback and any active discounts.

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A 10% welcome discount for your referrals

Everyone who signs up through your referral link automatically gets 10% off all trading fees, permanently.
  1. Open the bot and tap 🎁 Rewards (or send /rewards).
  2. Tap πŸ‘₯ Referrals.
  3. Your default invite link is shown β€” tap Copy to share.
Want to track multiple campaigns? Tap My Links to create custom referral codes (one per channel, audience, or experiment).

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Earnings and claiming

Your commissions accumulate in real time as your referrals trade. View them anytime in 🎁 Rewards β€” the breakdown shows referrals and cashback separately, plus your combined total. When your claimable balance reaches the minimum ($2 USDC), tap πŸ’Έ Claim Rewards. Funds are sent to your Polymarket wallet on Polygon in one on-chain transfer, typically within a couple of minutes.

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Tier multipliers

The base commissions above (30% / 3% / 2%) apply to all referrers by default. As your own trading volume grows you also unlock higher cashback rates on your personal trades β€” see Cashback for the full tier ladder.

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FAQ

You earn nothing until they actually generate fees. Inactive referrals cost you nothing but also yield nothing.
Yes β€” as long as your referral keeps trading on Merlin, you keep earning. There’s no time limit.
No. There’s no cap on how much you can earn β€” total commission scales linearly with your network’s trading activity.
Yes. In the referrals screen, tap Change Code to swap your default. You can also create custom labelled links via My Links without touching the default.
$2 USDC across all reward sources combined. Below that, your balance keeps growing until you cross the threshold.