REF1699 Referrer System Standard

The most common methods used by NFT Collections to attract new followers and increase community dynamism are not effective at all. The main reason being, they work around an exchange of a place in the whitelist for the presale mint. This has a negative impact both for the collection and the community.

Negative impact to community:

• Your level of collaboration actually doesn't matter, it will only be reduced at the limit set for the presale.
• Benefits are not visible at all. You can join whitelist raffles, but never win, nor take advantage of selling your NFT due to the rarity of your token being not high enough to make earnings.
• You can make a big support to the collection and still not join the whitelist merely because of bad luck.

Negative impact to community collection:

• Having a strong whitelist doesn’t represent a high collaboration rate. Many people use bots or bring non-active friends to scale up their supporter ratings.
• People who actually have an interest in the project may perceive unfairness since they could make a big effort to bring community and still not be able to join the whitelist cause it's not enough or just by bad luck. Which, consequently, may impact their desire to keep supporting the project.

This Referral System Standard will be extendable in every NFT Collection Smart Contract. The collections could implement a referral campaign, keep a track of their best referrers and reward them fair enough to increase their loyalty to the project.

Main Features:

• Anonymous referrer register, just with public address.
• Instantaneous reward (mint %) to referrer wallets on each referral mint.
• Ability to reward holder and non-holder referrers in different percentages.
• Referrers tracking by minted tokens.

Benefits for Community:

• Referrers will have rewards based on the quantity of tokens they have referred to and will not be limited to preset variables.
• Instantaneous rewards from the very first referrer mint in the minting process.
• There isn't a limit of collaborators, everyone can be a referrer just by bringing active minters to the collection.

Benefits for the Collection

• Each one of the rewarded referrer is an active collaborator. (They have brought at least one active minter)
• People brought to the collection by the referrers are active minters. (Bots cannot mint)
• High probabilities of increasing the interest in web3 influencers without the need of paying them. This will also increase the decentralization of the community.

This standard is built with the principal objective of removing the main problems that traditional whitelist methods have while giving the collections an effective and fair method to reward their main supporters.

This project is built using Remix as IDE and development framework of the Smart Contract (SC) to create the Referral System Standard. Polygon is a useful resource for the project because it helps to keep track of the referrers the SC will need to write down referrer data mapped to the tokens. As we know every written transaction in blockchain has a cost, Polygon's low gas fees are beneficial for these features.

ReactJS is used to build the frontend to make a showcase of the project implementation. It's built with ethersjs as a blockchain interaction library for javascript and metamask as wallet provider.