Documentation Index
Fetch the complete documentation index at: https://docs.phoenix.trade/llms.txt
Use this file to discover all available pages before exploring further.
Incentive program
Phoenix does not offer points programs or token airdrops.Referral program
Phoenix’s referral program lets traders earn a share of fees generated by users they refer, across two tiers.Refer and earn
Traders with at least $10,000 in lifetime volume can generate a referral code in the app. Each user gets one code with a customizable name. Codes have a limited number of uses at launch, with limits expanding over time.- referrers earn 20% of trading fees from direct referrals
- referrers earn 10% of trading fees from second-tier referrals
- rewards accrue weekly in USDC
- the fee-share applies to the first $100M in volume per referred user
Using a referral code
New users enter a referral code during sign-up at phoenix.trade. Referral codes apply a 10% discount on trading fees across perpetual markets for the duration of the $100M volume cap.Claiming rewards
- the referral page becomes visible after trading $10,000 of volume
- rewards update weekly
- there is a $1 minimum claim
- claimed rewards are deposited in USDC to the referrer’s spot balance
- unclaimed rewards do not expire
- referral relationships are permanent and persist for the duration of the volume cap
Program rules
- self-referrals are blocked
- abusive behavior such as wash trading can cause revocation
- existing referral relationships remain intact if a code is later revoked