> ## Documentation Index
> Fetch the complete documentation index at: https://docs.speculate.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Referrals

> Earn XP for growing Speculate

Every trader on Speculate is a recruiter. Bring people onto the platform, and you get paid in **XP** — not just for the sign-up, but for every dollar of competition activity they generate afterward.

## Your code and your link

The moment you join Speculate, you're issued a unique **8-character referral code**. Turn it into a shareable link by adding it to the app URL:

```text theme={null}
https://app.speculate.trade/?ref=YOURCODE
```

Anyone who signs up through that link joins your referral network permanently. From there, their competition activity is what drives your XP — not just the click.

<Tip>
  Share your link straight to X with one tap, right from the app. No copy-pasting, no switching apps to post it yourself.
</Tip>

## How XP is earned

You don't earn XP for the sign-up alone — you earn it for what your referrals *do*. Specifically, **competition buy-in volume**: every entry fee a referred user pays into a competition adds to your cumulative referred volume.

As that cumulative total climbs, you cross fixed XP milestones.

### Referral XP milestones

| Cumulative referred volume | XP awarded |
| -------------------------- | ---------- |
| \$10                       | +10 XP     |
| \$100                      | +50 XP     |
| \$1,000                    | +250 XP    |
| \$10,000                   | +1,000 XP  |

Each milestone is awarded once as you cross it, so by \$10,000 of referred volume you've banked **1,310 XP** in total (10 + 50 + 250 + 1,000).

<Note>
  Past $10,000, the milestones stop being one-off steps and become an ongoing rate: you earn an additional **+100 XP for every $1,000\*\* of referred volume beyond that point, with no cap.
</Note>

$$
\text{Total referral XP} = 1{,}310 + \left\lfloor\frac{\text{Referred Volume} - 10{,}000}{1{,}000}\right\rfloor \times 100 \quad \text{for Referred Volume} \geq \$10{,}000
$$

The **1,310** is the sum of the four milestone awards above; past $10,000, each completed **$1,000\*\* of referred volume adds another **+100 XP**. The bigger your network trades, the bigger your own XP total gets — indefinitely.

## Tracking your network

Your referral network — who's in it, and how much XP you've earned from them — is visible in the app at all times. No separate dashboard, no manual reporting: it updates as your referrals compete.

<Info>
  Referrals pay out in **XP**, not a discount on your own fees or a cut of anyone's winnings. Growing your network is a path up the [XP](/rewards/xp) ladder, not a separate payout mechanism.
</Info>

## See also

<CardGroup cols={2}>
  <Card title="XP" icon="star" href="/rewards/xp">
    What XP is, how it's earned across the platform, and what it unlocks.
  </Card>

  <Card title="Ways to earn XP" icon="target" href="/rewards/earning">
    Every XP-earning action on Speculate, referrals included.
  </Card>
</CardGroup>