GYM Network is set to roll out a pioneering program for the DeFi world: an affiliate system run by a smart contract native to the Binance Smart Chain; while introducing a pool share program.
GYM Network today announced that it will soon release an affiliate system for its first product, GYMNET Vault, as a part of its strategy to innovate the world of decentralized finance. The affiliate system operates through smart contracts, meaning agreements between users will be executed automatically: time effectively and with no intermediary’s involvement. In terms of GYM Network’s smart contracts, safety and security are of the utmost importance as the protocol will be audited by Certik, a leading blockchain auditing firm, which cooperates with world-known projects such as Polygon and Binance.
To access the affiliate system, users first need to make a deposit minimum of 0.05 BNB into their BNB Vault, provided by GYM Network, which is then forwarded to Alpaca Finance, a yield farming product. Once cash adds up to an investment, a part of it is delivered to the user, another slice is deposited into the Token Price Stabilization system, and finally, a portion goes into the affiliate technology.
When it comes to taking advantage of the benefits of the affiliate system, it is essential to note that participants can take part in the initiative only through a referral code. In addition, new users can find their code in the dashboard. Via the referral code, they can send an invitation to other users to participate and start off making referral fees in addition to the investment bonuses delivered by the vault and the GYMNET token.
When a person’s sponsored investors deposit into the Vault, the produced profits are partially shared; therefore, the investors obtain their profit share, and their sponsor receives profit commissions. The Referral system comes in 16 levels, and the profit commissions per level span from 10% for the 1st level to 0.25% for the final stage. In the event of having no sufficient levels, the commission is deposited into the system’s treasury to be used only for promotion and events. The treasury’s address is public.
When taking into consideration the affiliate system’s various advantages, it is key to emphasize the importance of GYMNET rewards. When users are eligible to claim GYMNET rewards, a part of the bonuses goes to users’ balance while another slice is distributed to the affiliate system. Therefore, users’ affiliate systems receive extra rewards, further boosting their profits while gaining access to additional funds in no time.
The ultimate goal of GYM Network’s affiliate system is to provide users with a platform where they can make money through a collective effort. In addition, the program aims at contributing to the continuous development of the decentralized finance sphere.
With regard to the pool share feature, GYMNET users have 6 pools at their disposal. To join each of them, they need to meet various requirements. Furthermore, it is vital to highlight that users can opt to cash out their deposits at any time.
The man behind the vision of the affiliate system shares his thoughts
“What has always been missing thus far in DeFi was the ability to earn a commission for referring other people. GYM NETWORK has implemented an affiliate system that is tied into the smart contract. This part alone is highly innovative and unique in the entire DeFi space,” says Alberto Mera, the system designer of GYM Network.
Why are affiliate systems so popular?
As one can note, GYM Network’s affiliate system features an example of referral marketing. The power and advantages of this style of marketing can be best assessed through the case study of Dropbox, a file hosting service. It is generally accepted among marketing professionals that the company’s rapid growth can be attributed to its use of referral marketing. In fact, it went from 100,000 sign-ups to 4 million in just 15 months.
Dropbox incorporated dual-sided bonuses, providing extra storage space to not only the referrer but also the referral recipient. Thanks to this strategy, not only did their advocates feel excited approaching their contacts as there was a benefit in it for the recipient, but they were also getting users to make an investment in the product by presenting an upgrade feature as the reward.
Excitingly, users of GYM Network can also benefit from dual-sided rewards since they can become eligible for various bonuses, and their partners can take advantage of many rewards.
Here is what investors love about GYM’s affiliate system
“I really like what DeFi has to offer and therefore often recommend the platforms I use to others. Now, with GYM NETWORK, for the first time, I get the opportunity to receive a profit share from referred members, which allows me to build an additional layer of passive income,” says a user of GYM Network.
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About GYM Network
GYM Network features an entirely decentralized protocol that lives on the Binance Smart Chain. GYM incorporates optimal yields with high rewards for its users. Therefore, investors receive easy access and save much time using the DeFi system. The company is proudly audited by Certik, a top contract auditing provider, which has provided auditing services to leading cryptocurrency exchanges such as Binance and OKEx.