Thanks to your continued support, KuCoin has upgraded the referral program as follows:

Participation and Eligibility
1. How to Participate: Use your referral code or link to invite new users to sign up for a KuCoin account ("invited users"). You can find your referral details by visiting Referral Program → Settings.
2. Eligibility: All registered KuCoin users who have completed KYC verification are eligible to participate, except for the following account types: sub-accounts, affiliate accounts, institutional users, temporary users, rebate market makers, project owners and their market makers, and fixed-rate market makers.
3. Regional Restrictions: This program is not available to residents of Belgium, France, the Netherlands, and other countries or regions where services are restricted. KuCoin reserves the right to update and adjust the list of restricted regions at any time.
Commission Rules and Payouts
1. Calculation Method: Commissions are based on the actual trading fees paid by invited users and are paid in the same currency.
2. Eligible Trading Types: Commissions apply to spot trades (including spot, margin, and trading bots), ETFs, and futures trades. Other types of trades are ineligible for rebates at this time.
3. Payout Frequency: Commissions are settled daily and will be issued to the referrer's KuCoin account on the following day.
4. Commission Period: Referrers will earn commissions from eligible trading activities of invited users for 365 days after their registration. No commissions will be generated beyond this period.
5. VIP Level Limit: If an invited user reaches VIP Lv. 3 or above, their trading fees will no longer generate commissions for the referrer.
6. API trading is currenly not eligible for commission.
Commission Rate and Cashback
1. Initial Rate: When a new user registers and completes KYC verification, the referrer earns a 25% commission on their trading fees from the day KYC is completed until the end of that month. Commission rates for existing users will be shared separately on the platform.
2. Monthly Assessment: On the 1st of each month, the system automatically adjusts the referrer's commission rate based on their referral performance for the previous month. The updated rates take effect for the current month. Referrers can view their progress and results in the Assessment Progress section. In special cases, the assessment period may be extended to between the 1st and 3rd of the month.
3. Commission Sharing: Referrers can set an exclusive cashback rate for the invited user (up to the current commission rate). The cashback amount set will be distributed automatically.
4. Rate Adjustment: Each month, when the system updates the commission rate, the final earnings split between the referrer and the invited user will be recalculated based on their original ratio. The adjusted amounts are then rounded up using the following formula:
  - Example A (Rate Increase): Original rate of 20%, with 15% cashback + 5% to referrer. If the new rate is 35%, the referrer receives 9% (5% ÷ 20% × 35% = 8.75%, rounded up), and the invitee receives 26% (35% - 9% = 26%).
  - Example B (Rate Decrease): Original rate of 35%, with 10% cashback + 25% to referrer. If the new rate is 15%, the referrer receives 11% (25% ÷ 35% × 15% = 10.71%, rounded up), and the invitee receives 4% (15% - 11% = 4%).
Valid Referrals and Transactions
1. Valid Invitees: During the monthly assessment period, users are counted as valid invitees if they meet the eligibility criteria and sign up successfully using the referrer's referral link or code.
2. Valid Trading Volume: The cumulative trading volume generated by valid invitees within the monthly assessment period that is eligible for rebates.

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