Bitshares is a great experiment and has been running stably for over 2 years. However, the trading volume of Bitshares on-chain exchange is just barely satisfactory. OpenLedger has done a great job, but compared to the mainstream exchange, such as poloniex or btc38, it still has a lot of potential.
According to my experience of promoting Bitshares in the past two years, once people experienced the Bitshares wallet and learned how to use it, they will like it and stick to it. However, considering the complexity of Bitsshares wallet, the first step is not easy.
Thanks to the referral program of Bitshares, the veterans in BTS communities have motivation to teach newbie to start their travel with BTS.
In order to introduce Bitshares to more people, especially encourage people to use Bitshares on-chain exchange, btsabc.org would like to take advantage of Bitshares referral program to launch Bitshares Golden Chain Plan
Background
As we know, there are two kinds of member accounts, basic member and lifetime member
Basic Accounts are free to register, but do not qualify for the referral program, nor any cash back on transaction fees.
Lifetime Members pay an upgrade fee and earn 80% cash back on every fee they pay. They also qualify for 80% of the fees paid by Basic Accounts they refer to the network. These 80% can be split among the registrar, that actually registers the accounts, and an affiliate referrer, that brought in the new user. A Lifetime Membership is just 17,611.61748 BTS for now and can be adjusted by voting in future.
The purpose of the referral program is to incentivize people to bring in more people. It compares to a Multi-Level-Marketing (MLM) scheme with the difference of having only 1 level where referred individuals can opt-out by upgrading their account to a Life-Time Member (LTM). Every life time member, can get a cut of the fees based on child accounts linked to ours via referral.
How "Golden Chain Plan" works
From now until Feb 14th, 2017, use the link https://bit.btsabc.org/?r=altcoin （replace altcoin by your own LTM ID）to refer new users, if he/she upgrades to LTM, in addition to the fees that you get from referral program , you will get one point from each LTM upgrade. In the end, BTSABC will pay the top three winners additional rewards:
The one who get the most points: minimum 2000 bitCNY plus a treasure map
Second most: minimum 1000 bitCNY
Third place: 500 bitCNY
Tips:
Using only a referral link may not be a good choice to attract new users to register, as they may not understand how to use the Bitshares wallet. Based on our experience, the best way to refer people is to write an article about tutorial or news, and then insert your referral link into your articles. So far, btsabc has successfully referred 346 accounts, many of them have upgraded to LTM.
