7 Reasons Why Smart Contract Powered Referrals Work

date_range April 10, 2022
person Zoe Perl
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Straight from Magic Square’s pot, another new and exciting feature is brewing, only to further spice up the crypto space. We felt like introducing the first-ever crypto app store wasn’t enough, so we added more. Our developers were on fire. Let the trumpets play as we mark the birth of Magic Referrals.

What Is It?

Being in the crypto space means you have your head wrapped around much information. It also means planning, assessing, and maintaining your flow in the space, all in line with your crypto goals. But what about promotion?

Whether a Creator or an Influencer, you’ll have the chance to experience a new kind of promotion. Saying that it is next-gen is definitely an understatement. Magic Referrals is powered by smart contracts and can give apps a significant boost through these magical referrals. No hassle, no sweat. High returns are a natural outcome if you plan on using this new feature. 

Why This Feature?

Magic Square is fueled by brilliant minds and industry experts that believe in revolutionizing the crypto space. We believe that crypto is the destination; this is why we were thinking about everyone—users but also creators and influencers. Crypto is still under development, which allows for fast changes and improvements on the go.

The need for a sound-proof affiliate feature in the crypto space was long overdue. Influencers/creators will now experience a refined affiliate promotional feature that is Magic Referrals. 

Benefits

In this section, we could talk about our “favorite child” for hours. Nonetheless, some of the more important benefits need to be listed, so every creator and affiliate can take notice and ultimately decide they can’t live without Magic Referrals. Here are some can’t-say-no-to benefits:

  • High returns
  • App boosting through smart contracts
  • You set the price
  • No need for interaction with affiliates
  • 90 percent commissions
  • Automatic payment
  • Becoming an affiliate is simple

How It Works for Creators

The process is fairly simple yet automated and exact. Creators determine for themselves how many tokens they want to set aside for referrals, after which the tokens are locked in a referral pool governed by a smart contract. 

If your app gets chosen by the affiliate, they automatically agree on the price you determined beforehand, as it is locked inside the smart contract. This way, you have full control over the price. When the affiliate link is used, it takes new users to your app, and then some magic happens. The amount of locked tokens gets unlocked, and they go straight to the affiliate. Awesome, right?

Another thing: all token payments come from the referral pool, so again, you have full control of your funds. Thanks to automation and accuracy, there’s no need to interact with affiliates.

How It Works for Affiliates

  Are you an affiliate? Well, do we have news for you! Our Magic Referrals give 90 percent commissions. That means that Magic Square takes only 10 percent. Our automated smart contracts also allow instant payments, which means waiting for your commission to arrive is done for good.

Another great thing is the freedom of choice. Isn’t that the dream? You get to promote the apps you love, as the price per referral and how much you’ll get paid. Yes, you read that right!

Finally, your reputation is in good hands, as all Magic Square’s apps are community-approved. Only top quality for each and every affiliate that chooses to use Magic Referrals. All you need to do is select a user package, an app, and then you’re a couple of technical steps away from partnering with us—a decision you’ll never regret.

Final thoughts

To summarize, Magic Square has yet to show you what it can do. Our team is working day and night to improve every aspect of our product and the features that come with it, as a new digital revolution is in full swing. Magic Referrals is here to aid every creator, influencer, and affiliate to achieve their fullest potential with the least amount of fuss. If you want a taste of our magic, be sure to sign up for our beta program and follow us on social media.