To further hype this referral system and bring new investors, they gave few example how much can people earn from it. Sure, they say that earnings will depend on the activity of your referrals, but this really reminds me of ponzi schemes, where they use similar language and graphics to attract new users.
It's a pyramid scheme. They are forcing users to trade in their exchange to get their referral reward and that's how they earn money.
Only users that have completed KYC verification and have paid at least $5 trading commissions on KickEX can enjoy the rewards.
Therefore, users will have to make trades even if they don't need.
For example I will have to deposit BTC, convert it to ETH then convert ETH to BTC and withdraw BTC to become eligible for the reward.
In this case, I will waste 5$ + withdrawal fee. In addition to that I will increase their volume.
This is how they try to earn money. Getting others money and giving a part of it to those that are on top of the pyramid.