Phemex Referral Commission Program Terms & Conditions

Phemex hereby formally announces the comprehensive upgrade and launch of its Enhanced Referral Commission Program (the "Program"). This initiative establishes a structured, transparent, and sustainable incentive framework designed to reward users for contributing to the growth and vitality of the Phemex ecosystem.

The following constitutes the official and definitive outline of the Program's core operational mechanics, effective from the date of activation.

1.0 PROGRAM ENROLLMENT AND USER ELIGIBILITY

1.1 Voluntary Activation

Participation in the Program is strictly opt-in. Eligible users must affirmatively activate the commission feature within the designated Referral interface. The system does not enable commission accrual by default, ensuring no user is enrolled without explicit consent.

1.2 Eligibility Criteria

Eligible Participants: Users classified under the "Normal" account type who have successfully completed Advanced Know Your Customer (KYC) verification.
Ineligible Participants: The following user types are not eligible to activate or participate as Referrers in this Standard Referral Program:
- Broker Users
- Institutional Users
- Market Maker Users
- Participants in the separate Phemex Collaborator Program. The Phemex Collaborator Program is a distinct and separate program with its own dedicated commission framework. Joining the Collaborator Program results in automatic ineligibility for the Standard Referral Program.
Status Transition Protocol for Referrers:

A. For the Referrer (Inviting User):

If a participating Referrer’s account type changes after activation:

Transition to Collaborator Status:
1. The user will migrate to and be governed by the dedicated Collaborator Program.
2. Their participation in this Referral Program as a Referrer will be terminated.
Transition to Institutional, Broker, or Market Maker Status:
1. Accrual of new standard referral commissions ceases immediately upon status change.
2. Historical referral data remains visible in the administrative backend, but no further commissions will be generated or disbursed from that point forward. The user-facing dashboard will cease updating new referral data.
No Retroactive Commissions: Unpaid commissions accrued prior to the status change will be processed according to the rules in effect at that time.

B. For the Invitee (Referred User):

The account type or status change of an Invitee (e.g., becoming a VIP3+ user, Collaborator, Broker, etc.) does not retroactively affect the Referrer's eligibility to have earned commissions from that Invitee's past eligible trades. However, future commissions from that invitee will be governed by the commission exclusion rules stated in Section 3.4 (e.g., trades by VIP3+ users do not generate commissions).

1.3 Invitation Relationship and Commission Commencement

The referrer-referred relationship is irrevocably established at the point of the referred party's successful registration via the referrer's unique invitation link.
Pre-Activation Period: Prior to a referrer's activation of the Program, all trading activity and data from their Referred Users will be tracked and displayed on the referrer's dashboard for informational purposes. No commissions shall be accrued during this period.
Post-Activation Period: Upon activation, the referrer immediately becomes eligible to earn commissions on all future qualifying transactions executed by their Referred Users, subject to the validity period defined in Section 1.4.

1.4 Commission Validity Period: A referrer is eligible to earn commissions only from transactions executed by a Referred User within 365 calendar days following that user's registration date. Transactions occurring after this period do not generate commissions.

2.0 COMMISSION STRUCTURE AND TIERED RATES

2.1 Direct Referral Model The Program operates on a one-level referral model. Commissions are earned exclusively from the trading activity of users directly invited by the referrer. Example: If User A invites User B, and User B subsequently invites User C, User A earns commissions from User B's activity. User A does not earn commissions from User C's activity.

2.2 Commission Tiers and Performance Criteria

Referrer commission rates are categorized into three tiers, subject to monthly performance evaluation based on the criteria detailed below.

Tier	Commission Rate	Monthly Upgrade Requirement (Satisfy ONE Criterion)
Level 0	15%	The default starting tier for all activated referrers.
Level 1	20%	Achieve 5 Qualified Referrals OR generate $50,000 USDT in Total Invitee Trading Volume.
Level 2	25%	Achieve 15 Qualified Referrals OR generate $100,000 USDT in Total Invitee Trading Volume.

2.2.1 Definition of a Qualified Referral

A "Qualified Referral" refers to a user who:

Registered via the referrer's invitation link during the immediately preceding calendar month (the "Assessment Period").
By the conclusion of that Assessment Period, it has met the following minimum thresholds:
1. Net Deposit: ≥ 100 USDT(calculated as deposits from external channels including buying crypto/fiat balance/third-party/p2p, excluding internal transfers).
2. Qualified Trading Volume: ≥ 1,000 USDT.

2.2.2 Definition of Qualified Trading Volume

"Qualified Trading Volume" constitutes the sum total of all trading volume generated during the Assessment Period by a referrer's Referred Users, provided such users are within their first 365 days of registration.

2.3 Monthly Assessment and Review Protocol

Assessment Cycle: System evaluations are conducted automatically on the first day of each calendar month at 00:00 UTC, analyzing data from the preceding month.
Tier Adjustment: A referrer's commission tier is subject to monthly adjustment based on the above performance criteria.
Approval Process: Progression from Level 0 to Level 1 or Level 2 requires manual approval by the Phemex operations team. Maintenance of Level 0 status is automatically confirmed.
Data Finality: Performance data for an Assessment Period is permanently finalized as of 23:59 UTC on the last day of that month. Subsequent activity is attributed to the following Assessment Period.

3.0 COMMISSION CALCULATION, SCOPE, AND DISBURSEMENT

3.1 Eligible Transaction Types

Commissions are generated from the trading fees incurred by Referred Users on the following Phemex products:

Spot Trading
Margin Trading
Futures Contracts (both USDT-margined and Coin-margined) This includes volume from Onchain Trade, Copy Trade, and other integrated strategy trading modules.

3.2 Calculation Basis and Exclusions

Calculation Base: Commissions are calculated as a percentage of the net trading fee actually settled and paid by the Referred User.
Exclusions: The following are explicitly excluded from the commission calculation base:
- Any portion of a trading fee that is offset using account Bonus or fee deduction vouchers.
- Transactions executed via Application Programming Interface (API) connections.
- Transactions executed by Referred Users who have attained VIP3 membership level or higher.

3.3 Commission Disbursement

Frequency: Commissions are calculated and disbursed on a daily basis. The disbursement cycle for transactions occurring on day T is typically completed by approximately 05:00 UTC on day T+1.
Currency: Commissions are disbursed in the identical currency in which the Referred User paid the underlying trading fee (e.g., BTC fees result in BTC commissions, USDT fees result in USDT commissions).
Destination: All commission disbursements are credited directly to the referrer's Spot Account.
Financial Record: A distinct transaction type, designated as "Referral Commission," will be recorded in the referrer's account ledger to ensure clear auditability.

4.0 INITIATING PARTICIPATION & EARNING OVERVIEW

To fully benefit from the enhanced Referral Program, which comprises both a commission commission scheme and exclusive invitation events, eligible users should follow the steps below:

Benefit 1: Activate Your Referrer Status for Commissions

Log into your verified Phemex account.
Navigate to the "Referral" section via primary platform navigation or your user dashboard.
Ensure your Advanced KYC verification is complete.
Select the "Activate Commission" function. This is a mandatory step to formally enroll as a Referrer and begin earning trading commission commissions.

Benefit 2: Participate in Exclusive Invitation Events for Bonus Rewards

Concurrently, you can participate in various limited-time invitation events (e.g., cash bonuses, trading bonus) showcased within the same Referral section.
How to receive exclusive invitation event rewards:
- Browse and select any active invitation event.
- Click "Join" to enter the event.
- Share the unique event invitation link directly with your friends.
- Both you and your friends can earn rewards (like cash or trading bonus) upon completing the specific tasks outlined in each event.

Dual Benefits:

Daily Commission commissions: Earn a percentage of the trading fees from all your invited friends' eligible trades.
Event Bonus Rewards: Earn additional, varied rewards by successfully inviting friends to complete specific event tasks.

You can enjoy both benefits simultaneously to maximize your earnings from every invitation.

5.0 Promotional Content Standards

All promotional content created by Referrers must not infringe upon third-party rights and must not contain discriminatory, illegal, or inappropriate material. Content must meet high-quality standards and require prior written approval from Phemex. Prohibited promotional activities include, but are not limited to:

(a) Using domain names or social media accounts confusingly similar to Phemex's official assets to mislead users.

(b) Unauthorized placement of Phemex advertisements on search engines or other platforms.

Please refer to official announcements for further details.

6.0 General Provisions

Phemex may suspend, freeze, or restrict accounts suspected of violating applicable laws or the Platform's Terms of Service. Phemex reserves the right to amend, suspend, terminate, or adjust the rules of the Program at any time without prior notice. All interpretations of these terms shall be final and at the sole discretion of Phemex.

This Enhanced Referral Commission Program underscores Phemex's commitment to fostering a rewarding and equitable community. The platform has instituted advanced risk management and monitoring systems to preserve the integrity of the Program and ensure fair access for all bona fide participants.