Merge pull request #1914 from vegaprotocol/feat/referral_updates

feat: update referral program for new requirements
vegaprotocol · Aug 29, 2023 · d1b65c2 · d1b65c2
2 parents 4ec435d + ff6d920
commit d1b65c2
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diff --git a/protocol/0029-FEES-fees.md b/protocol/0029-FEES-fees.md
@@ -51,12 +51,12 @@ Note, it is important discounts are calculated and applied **before** rewards ar
     maker_fee = maker_fee - maker_fee_referral_discount - maker_fee_volume_discount
     ```
 
-1. Calculate any referral rewards due to the parties referrer (Note we are using the updated fee components from step 3)
+1. Calculate any referral rewards due to the parties referrer (Note we are using the updated fee components from step 3 and the `referralProgram.maxReferralRewardProportion` is the network parameter described in the [referral program spec](./0083-RFPR-on_chain_referral_program.md#network-parameters))
 
     ```pseudo
-    infrastructure_fee_referral_reward = floor(infrastructure_fee * referral_reward_factor)
-    liquidity_fee_referral_reward = floor(liquidity_fee * referral_reward_factor)
-    maker_fee_referral_reward = floor(maker_fee * referral_reward_factor)
+    infrastructure_fee_referral_reward = floor(infrastructure_fee * min(referral_reward_factor * referral_reward_multiplier, referralProgram.maxReferralRewardProportion))
+    liquidity_fee_referral_reward = floor(liquidity_fee * min(referral_reward_factor * min(referral_reward_factor * referral_reward_multiplier, referralProgram.maxReferralRewardProportion))
+    maker_fee_referral_reward = floor(maker_fee * min(referral_reward_factor * min(referral_reward_factor * referral_reward_multiplier, referralProgram.maxReferralRewardProportion))
     ```
 
 1. Finally, update the fee components by applying the rewards.