The program allows participants to earn 25% of trading fees up to three degrees.
Bitfinex’s EOS-based decentralized Exchange platform EOSfinex has announced the creation of the EOS Affiliate Program, a new initiative intended to boos EOS user adoption. According to an announcement circulated to Finance Magnates, the program “allows participants to take an active stake in contributing to the growth of the community and earn a percentage of trading fees through a new revenue sharing scheme.”
Steven Quinn, the platform’s Product Lead, said in a statement that “the EOSfinex Affiliate Program is a community-focused service that promotes important EOS initiatives and projects by giving them another method to generate profit to fund their work... funding is key to the success of early-stage projects. We’re excited to contribute to that success.”
We've launched the @eosfinexproject Affiliate Program! Our revenue share scheme to boost #EOS communities & projects.
According to an official blog post on the launch, the program allows participants to earn 25% of trading fees up to three degrees. Additionally, “commissions earned through the EOSfinex Affiliate Program are paid out in real-time and give EOS projects and community members a transparent and reliable way to earn from their efforts.”
EOSfinex believes that “an affiliate program is the best way to build and grow a community.”
Quinn told Finance Magnates that “EOSfinex also believes thoroughly in the notion that an affiliate program is the best way to build and grow a community, which is why our new program doesn’t primarily target individuals and their social networks, but puts an emphasis on businesses and specifically EOS projects.”
“By focusing on businesses first, the EOSfinex affiliate program is able to provide organizations that, either don’t always have obvious sources of revenue when they start out or even those that are well-established and would like to use programs like this to fund their work and future projects, with a new revenue share plan. This applies to everyone from news outlets, to block explorers, to review sites, community portals, research publications, and businesses.
”The monetary motivation is actually the smallest piece of the puzzle.”
The announcement of the affiliate program comes after several prominent voices in the crypto industry have come forward to question the ethics of affiliate programs and other kinds of performance-based marketing throughout the year.
For example, earlier this year, Lex Sokolin, global financial technology co-head at ConsenSys, told Bloomberg that exchanges which use affiliate marketing are most often “motivating trading behavior and not just account opening behavior,” which he finds to be ethically questionable.
“By getting a percentage, the referrer wants their friends not just to save, but to trade and to churn. This is why I think it is a poor incentive model and starts to approach multi-level-marketing,” Sokolin said.
However, Quinn told Finance Magnates that he disagrees with this notion, and that “the monetary motivation is actually the smallest piece of the puzzle.”
While an affiliate program “may get peoples’ foot in the door,” EOSfinex doesn’t believe money “is what keeps them around.”
“We’ve seen affiliate programs in the past draw interest by incentivizing users with the notion that ‘it’s a way to earn extra money,’ but in fact, what they were actually doing was providing a way to grow the space as a whole,” Quinn explained.
“This ultimately allows cryptocurrency to become available to more people, which in turn allows more projects to be funded, more technology to be created, and the further advancement towards mainstream adoption to become a reality.”.
Therefore, “while it may get peoples’ foot in the door, we don’t believe it is what keeps them around,” Quinn continued. “As crypto affiliate programs continue to provide more access to the future of finance, the underlying theme should very much be about supporting businesses and communities while developing partnerships for the success of the ecosystem.”
eosfinex combines the speed and scalability of EOS with Bitfinex’s industry-leading trading expertise, resulting in an on-chain exchange built around speed, transparency and control.
Start trading today on https://t.co/ctqAe9muEb. pic.twitter.com/OwTIMBONBO
— eosfinex (@eosfinexproject) July 30, 2019
Bitfinex announced last month that active Affiliate accounts on its own platform, both Affiliates, and referrals, would have access to fee rebates on margin funding earnings.
Bitfinex’s EOS-based decentralized Exchange platform EOSfinex has announced the creation of the EOS Affiliate Program, a new initiative intended to boos EOS user adoption. According to an announcement circulated to Finance Magnates, the program “allows participants to take an active stake in contributing to the growth of the community and earn a percentage of trading fees through a new revenue sharing scheme.”
Steven Quinn, the platform’s Product Lead, said in a statement that “the EOSfinex Affiliate Program is a community-focused service that promotes important EOS initiatives and projects by giving them another method to generate profit to fund their work... funding is key to the success of early-stage projects. We’re excited to contribute to that success.”
We've launched the @eosfinexproject Affiliate Program! Our revenue share scheme to boost #EOS communities & projects.
According to an official blog post on the launch, the program allows participants to earn 25% of trading fees up to three degrees. Additionally, “commissions earned through the EOSfinex Affiliate Program are paid out in real-time and give EOS projects and community members a transparent and reliable way to earn from their efforts.”
EOSfinex believes that “an affiliate program is the best way to build and grow a community.”
Quinn told Finance Magnates that “EOSfinex also believes thoroughly in the notion that an affiliate program is the best way to build and grow a community, which is why our new program doesn’t primarily target individuals and their social networks, but puts an emphasis on businesses and specifically EOS projects.”
“By focusing on businesses first, the EOSfinex affiliate program is able to provide organizations that, either don’t always have obvious sources of revenue when they start out or even those that are well-established and would like to use programs like this to fund their work and future projects, with a new revenue share plan. This applies to everyone from news outlets, to block explorers, to review sites, community portals, research publications, and businesses.
”The monetary motivation is actually the smallest piece of the puzzle.”
The announcement of the affiliate program comes after several prominent voices in the crypto industry have come forward to question the ethics of affiliate programs and other kinds of performance-based marketing throughout the year.
For example, earlier this year, Lex Sokolin, global financial technology co-head at ConsenSys, told Bloomberg that exchanges which use affiliate marketing are most often “motivating trading behavior and not just account opening behavior,” which he finds to be ethically questionable.
“By getting a percentage, the referrer wants their friends not just to save, but to trade and to churn. This is why I think it is a poor incentive model and starts to approach multi-level-marketing,” Sokolin said.
However, Quinn told Finance Magnates that he disagrees with this notion, and that “the monetary motivation is actually the smallest piece of the puzzle.”
While an affiliate program “may get peoples’ foot in the door,” EOSfinex doesn’t believe money “is what keeps them around.”
“We’ve seen affiliate programs in the past draw interest by incentivizing users with the notion that ‘it’s a way to earn extra money,’ but in fact, what they were actually doing was providing a way to grow the space as a whole,” Quinn explained.
“This ultimately allows cryptocurrency to become available to more people, which in turn allows more projects to be funded, more technology to be created, and the further advancement towards mainstream adoption to become a reality.”.
Therefore, “while it may get peoples’ foot in the door, we don’t believe it is what keeps them around,” Quinn continued. “As crypto affiliate programs continue to provide more access to the future of finance, the underlying theme should very much be about supporting businesses and communities while developing partnerships for the success of the ecosystem.”
eosfinex combines the speed and scalability of EOS with Bitfinex’s industry-leading trading expertise, resulting in an on-chain exchange built around speed, transparency and control.
Start trading today on https://t.co/ctqAe9muEb. pic.twitter.com/OwTIMBONBO
— eosfinex (@eosfinexproject) July 30, 2019
Bitfinex announced last month that active Affiliate accounts on its own platform, both Affiliates, and referrals, would have access to fee rebates on margin funding earnings.
Rachel is a self-taught crypto geek and a passionate writer. She believes in the power that the written word has to educate, connect and empower individuals to make positive and powerful financial choices. She is the Podcast Host and a Cryptocurrency Editor at Finance Magnates.
Bitget's Bitcoin Reserve Ratio Soars Over 300% Following Halving
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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