Friend Rate Referral Programme Terms

Last updated: 2026-08-18 Version: 1.0.1

These terms govern the Swaps Friend Rate referral programme. They supplement the Terms of Service, and in the event of conflict between these terms and the main Terms for matters specific to referrals, these terms control.

1. What Friend Rate is

Friend Rate is a loyalty programme built around two moments: your friend joining, and your friend trading.

Your friend (the referred user) receives 5 welcome Credits as soon as their account is attributed to your referral — immediately, on signup through your link (or on entering your code, if attributed retroactively). No purchase or transaction is required to unlock these.
You (the referrer) receive 10 Credits once your friend completes their first qualifying transaction on a Provider through the Service — a trade of at least $50 (see §4).

Credits are internal Service units redeemable for paid Service features such as Search Address Report packs. They are non-cash, non-transferable, and have no expiry.

2. Eligibility

To participate, you must:

Have a Swaps Account in good standing.
Be at least 18 years old.
Not be in a restricted jurisdiction or on a sanctions list (see the Sanctions policy).

Your referred friend must also satisfy these conditions and must not already have a Swaps Account.

3. How to refer

Go to your Account → Rewards → copy your unique referral link.
Share the link with your friend.
Your friend signs up using your link, which attributes their new Account to your referral automatically. If your friend already had a Swaps Account and enters your referral code afterward instead of using the link, that attribution must happen within 30 days of their Account's creation date — after that window, the code is no longer accepted.
Once attributed, there is no deadline on your friend's qualifying transaction — see §4.

You may share your referral link by personal communication, in messaging apps, on your blog, on social media, and in any other context that complies with these terms and the Acceptable Use Policy. You may not:

Run paid advertising campaigns (Google Ads, Meta Ads, paid Twitter posts, etc.) using the Swaps brand or claims unless you have a separate written partner agreement.
Use the Swaps name or logo in a way that implies endorsement or partnership beyond your participation in the referral programme.
Spam, harass, or message users without consent (this includes unsolicited DMs, mass tagging, and similar).
Make false or misleading claims about the Service, Provider rates, or earnings potential of the referral programme itself ("earn $1000/month referring" is misleading and not permitted).

4. Qualifying transaction

A "qualifying transaction" is:

Your friend's first successful Provider transaction (on-ramp, off-ramp, or swap) completed via a Swaps redirect, for a trade amount of at least $50. There is no deadline for this transaction — it counts whenever it happens after your friend's Account is attributed to your referral (see §3).
"Successful" means the Provider confirms execution (the user received the asset purchased, or the fiat from a sale).
Failed, cancelled, refunded, or KYC-denied transactions do not qualify.
A transaction below the $50 threshold does not qualify and does not trigger your reward.

You can see referral status (pending / qualified / paid) in your Account → Rewards.

5. What Credits do

Credits can be redeemed for:

Search Address Report packs (1 Credit per Report).
Other paid Service features as they are introduced.

Credits cannot:

Be redeemed for cash.
Be transferred between Accounts.
Be used to pay Provider fees or transaction amounts (those are paid to the Provider, not to Swaps).
Be stacked with a purchased Credit pack for bonus credits beyond what that purchase already grants, except where a specific promotion explicitly allows it.

Credits do not expire.

6. Anti-fraud — what is prohibited

The following are prohibited and result in revocation of Credits, suspension or termination of Accounts involved, and possibly broader enforcement under the Acceptable Use Policy and Limits & Enforcement:

Self-referral. Referring yourself via a second Account, an alternate email, a relative's email used as a stand-in for yourself, or any device sharing scheme designed to claim referral bonuses for transactions you yourself initiate.
Fake referrals. Bot Accounts, throwaway emails, identities created for the sole purpose of earning the welcome Credit and triggering your reward.
Paid-traffic farming. Running paid traffic to your referral link primarily to harvest the Credit reward, where the resulting users do not have a genuine independent interest in using the Service. (Organic posting on your blog or social account is fine.)
Multi-accounting. One natural person, one Account. Operating multiple Accounts to multiply rewards or to be both "referrer" and "friend" is prohibited.
Coordinated rings. Coordinated group activity (e.g., Telegram groups where members refer each other) where the primary purpose is reward harvesting rather than service use.
Misrepresentation. Telling a referred user something untrue about the Service to induce a transaction.

We detect these patterns through fingerprint analysis, IP clustering, transaction-pattern analysis, and Provider feedback. Where detected, we may:

Revoke pending Credits (have not been awarded yet).
Reverse awarded Credits (if not yet spent) or charge an Account balance equal to the value of spent Credits.
Suspend or terminate any Account involved.
Permanently block the affected fingerprints / IPs from earning future referral rewards.

We do not refund Credits earned via prohibited methods on appeal except where the user can show by clear and convincing evidence that the detection was a false positive.

7. Programme modification

We may modify the programme — reward amounts, qualifying transaction definition, eligibility rules, anti-fraud thresholds — by updating this page and giving at least 14 calendar days' notice for modifications that reduce existing rewards or tighten eligibility. We may make immediate non-prejudicial changes (e.g., clarifications, adding new prohibited patterns we did not foresee).

We may terminate the programme entirely with at least 90 calendar days' notice. Credits already earned at the time of termination remain redeemable for at least 12 months after termination.

8. Tax

Credits awarded under Friend Rate may, in some jurisdictions, constitute taxable income for the referrer. We do not give tax advice. We do not issue tax statements automatically. You are responsible for understanding and complying with the tax rules of your jurisdiction. Where Estonian or EU law requires us to report referral-derived value to tax authorities, we will do so.

9. Privacy of referred users

Your referred friend is a Swaps user in their own right. We do not give you visibility into your friend's transactions, identity, or activity beyond the qualifying-event flag (pending / qualified). You must not pressure or harass your friend to complete a transaction. Friend's data is governed by the Privacy Policy.

10. No guarantee

Friend Rate is a loyalty bonus offered at Swaps' discretion. Participation does not create an employment, agency, joint-venture, or franchise relationship. Earned Credits are not a promise of future Credits, future rewards, or continuation of the programme.

11. Termination of your participation

We may terminate your participation in the programme at any time for breach of these terms, the Acceptable Use Policy, or the Terms of Service. On termination of participation:

Pending Credits are forfeited.
Awarded but unspent Credits are forfeited only if termination follows a major or critical breach (see Limits & Enforcement §6).
You may appeal under Limits & Enforcement §7.

12. Disputes

Disputes about referral Credit balances, qualification, or anti-fraud detection are first addressed by emailing legal@swaps.app. If not resolved within 30 calendar days, the dispute resolution provisions in the Terms of Service §21-22 apply.

Contact: legal@swaps.app