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As part of its ambition to change the field of DeFi, GYM Network announced today that an affiliate system for its first product, GYMNET Vault, will be released soon. The affiliate system is based on smart contracts, which means that agreements between users will be carried out automatically, saving time and eliminating the need for an intermediary. Safety and security are top priorities for GYM Network’s smart contracts since the protocol will be evaluated by Certik, a renowned blockchain auditing business that works with well-known projects like Polygon and Binance.
To gain access to the affiliate system, users must first deposit at least 0.05 BNB into their GYM Network BNB Vault, which is subsequently forwarded to Alpaca Finance, a yield farming product. Once the funds have been deposited, a portion of it is handed to the user, another amount is deposited in the Token Price Stabilization system, and a third component is deposited in the affiliate technology.
When it comes to taking advantage of the affiliate system’s perks, it’s important to remember that members can only participate in the program by using a referral code. New users can also locate their code in the dashboard. They can use the referral code to invite other users to join and begin earning referral fees in addition to the investment bonuses provided by the vault and the GYMNET token.
The produced profits are partially divided when a person’s sponsored investors deposit into the Vault; as a result, the investors receive their profit share and their sponsor obtains profit commissions. The Referral system is divided into 16 tiers, with earnings commissions ranging from 10% for the first level to 0.25 percent for the final step. If there aren’t enough levels, the commission is deposited in the system’s treasury, where it will be utilized solely for promotion and events. The address of the Treasury is open to the public.
 
 
When considering the different benefits of the affiliate system, it is critical to underline the relevance of GYMNET rewards. When users are eligible for GYMNET incentives, a portion of the bonuses is credited to their accounts, while the remainder is given to the affiliate system. As a result, users’ affiliate systems receive higher benefits, allowing them to increase their revenues while also gaining access to additional funds quickly.
GYM Network’s affiliate system’s ultimate purpose is to give users a platform where they may earn money by working together. Furthermore, the program aspires to contribute to the ongoing development of decentralized finance.
GYMNET users get access to six pools using the pool sharing tool. They must meet specific standards in order to join each of them. It’s also worth noting that consumers have the option of cashing out their deposits at any moment.
GYM Network’s system creator, Alberto Mera, states: “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”.
Why are affiliate schemes so popular?
As may be seen, GYM Network’s affiliate system includes a referral marketing example. Dropbox, a file storage service, serves as a good example of the strength and advantages of this type of marketing. The company’s rapid success is widely credited to its use of referral marketing, according to marketing pros. In fact, in just 15 months, it went from 100,000 to 4 million sign-ups.
Dropbox included dual-sided benefits, giving both the referrer and the referral recipient additional storage space. Not only did their advocates feel more enthusiastic about approaching their contacts because there was a value in it for the recipient, but they were also able to persuade consumers to invest in the product by offering an upgrade feature as a reward.
GYM Network users can also profit from dual-sided awards, as they can become eligible for a variety of bonuses, while their partners can take advantage of a variety of benefits.
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.
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Source: https://zycrypto.com/gym-network-unveils-pioneering-affiliate-system-program-for-the-defi-world/