The referral program is beneficial for both the referrer and referee as they both earn rewards from the fees. This program is applicable only for new wallets/accounts. The referral program only applies to fees earned on the DEX section of Proton DEX and not the Swap section.
There is no limit to the number of referrals a trader can make. Each account can only use one referral code. Earning rewards as the referee will last for 1 year.
John refers Hank.
Hank creates an account on Proton and deposits $500 USDC to his wallet.
Hank visits Proton DEX and buys $500 XUSDC worth of XPR, or 500,000 XPR.
Hank acting as a taker in this transaction.
Hank as the referee pays 0.95 XUSDC as a fee (1 XUSDC base fee Tier 1 minus a 5% reduction).
John as the referrer receives 25% of the 0.95 XUSDC fee or 0.237500 XUSDC