Expense Account & Rebate Settlement Time

Kindly ensure the Inviter Rebate account has sufficient funds of the selected rebate currency.
Settlement Method:
The chain server will issue the rebate of the previous day daily at around 1:30 AM (GMT+8).
In the event where the Inviter Rebate account has insufficient funds, the system will re-issue the rebate as soon as the funds is in.

How broker management work?
System role description

Broker: From the exchange you can set a variety of broker role, subordinate can have different rebate ratio, after creating the broker role need to manually assign the role to the broker.
Direct customers (ordinary users): Direct customers, that is, ordinary users, can become the downline of any broker, and the transactions generated will contribute rebate. These users can also invite other users to register and enjoy the rebates.

Function 1:  Role Configuration

Step 1: Add a Role. Go to [Value-added Service]-[Broker Management] - [Broker Role],click 'Add a role.

Step 2: Configure the role
Role name – Label of the broker role
Participation Currency – The currency that will allow the user to receive rebate from when traded
Rebate Currency – The currency your user would receive as rebate (bonus)
Subordinate Role – Role under the current role you are configurating
Note: When you are create a role, the Subordinary Role can be left empty (and to be revisited again by clicking the 'edit' button).
Level Scale (Role Level) – Specify the role level
Note: The system currently only supports 1 Level [eg. A -> B B ->C]
Level Scale (Scale %) – Key in the percentage to be shared by the subordinate broker with the1st level broker.

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Step 3: You can only set one role as default. If you set multiple roles as default, the last role that you set will be the default role.

Function 2: Adding Users as Broker

There are 2 ways to become broker:
 1. Via Referral, when a user has referred at least 1 user to the Exchange, the system will automatically convert him as brokers with the default broker role (He will not be converted to default role if he has already been assigned a role at the backend by the merchant)
 2. Setting a user as an agent from the backend (kind refer to the image below)

Step 1： Go to [Broker Management], click 'set an agent'.

Section 3: You need to add broker page to the exchange before users can access the broker management page from the frontend.

Step 1: Add Broker in menu

Step 2： Jump Address : /Broker

Once you have saved, you should be able to locate the Broker tab on the Exchange

Your user will be able to see the records here

Frequently Asked Questions:

1. How are the rebates being calculated?

   Answer:
   Rebates are calculated before the deduction in ChainUp.
   
   Example:
   Your fees with ChainUp is 30 / 70 (ChainUp takes 30% of the fees earned, Your company takes 70%)
   Fees earned from a transaction is 10U, if you were to assigned 20% to a broker role.
   
   

   This broker will receive 2U. ChainUp will receive 3U.
   The fees your company would earned from this particular transaction after deduction will be 5U (Fees earned, minus broker commission, minus ChainUp fees :10U - 2U - 3U = 5U).
   
   
2. How does the system dictate and issue the rebate amount?
   Answer:
   The system will distribute rebate amount based on the time the transaction occur.
   eg. Transaction at 4PM constitute to 23.5 TRX rebate, at 2AM when the system tabulates, the rebate will still be 23.5 TRX regardless of the fluctuation and price of the token.
   
   Transactions between 00:00:00 - 23:59:59 rebates will be calculated and distributed daily between 2AM to 4AM (UTC+8) the very next day.