Thanks for joining everyone. We will add progress spreadsheet by the end of week one. (26th)
Make sure to join now to still receive bounty for week 1!

Hey, thanks for the interest. The greatest things usually come with relatively simplistic ideas The base product will be simple but we will be rapidly building out after the pre ICO. To compete with big affiliate networks, we will need some strong features. Remember to join the slack/telegram channel as this will be required to participate in the pre ICO.

Unfortunately you will need slack or telegram to partake in the bounty program. Slack is very simple to join. Just use your email address here: https://slack.referex.io

Using the Referex platform, advertisers pay REFX tokens as fees to publishers who refer. Advertisers can setup custom referral programs that payout in different ways.
Also advertisers can acquire REFX tokens to use the network and as fee to referrers.

Hi thanks for trying the demo. We are still in the early stages of development.

There is a cost to create the referral program on the network but this is strictly the transaction fee. Currently there are 2 transactions for setting up but we can reduce to 1 utility to make it simpler.

We are be considering it, but our first priority is solving the problem of trustless referrals and will move onto managing value/liquidity of tokens at a later stage.

Really appreciate this question and really appreciate you critically looking at ICOs. It's very much needed today, where we see hype often superseding everything else.

There are 3 reasons we chose to have a token:

1) An ERC20 token by itself is of course very little use and is not meant to be a token by itself but rather an interface that will be implemented for very basic token functionality. Due to the complexity of referrals and certain functionality that we want to add to the tokens which affiliates will receive, we will need to implement further functionality on top of ERC20. Common example of this would be if advertisers decided to issue vesting tokens, or tokens that issued funds in some other way or other conditions.

2) It creates an economy that is not tied directly to the value of Ethereum. Ethereum is a very volatile cryptocurrency currently. If program managers commit to certain # of referrals and ETH prices increase or decrease, it can cause grief on either side of the network.

3) Lastly as you have rightfully taken note, the purpose is to raise capital. This is a more simplistic view, but in reality this also dictates several other things. e.g. What is the value of a referral? What is the value of the network that is created by Referex? These questions start to become clearer when these tokens take their own individual value.

We're glad to receive further feedback. Please use whatever channel suits you best to get in touch We are still setting up a few things but should be available to take questions on slack very soon as well

That's for sure but that alone is not enough. Referral programs often spiral out of control - one of their intentions from the beginning i.e. "virality". It's very possible that while the advertiser has run out of funds - referrals are still continuing to be made for which funds are not allocated. Which is why alongside with main release of the project will be APIs that allow disabling of promotion when advertisers cannot provide funds among other functionality.

Sorry misunderstood the question. The way we envision that working is that managers will need to be able to commit a certain # of referrals based on payout for a specific period of time. These details will then be available to people who send these referrals to signify that the referral managers payouts are liquid so to say.

We are also debating on reputation systems on the contract that will gradually provide advertisers with further benefits, e.g. shorter lock in time.

Thanks for the genuine question. 

I suppose this depends largely on what implementation of a referral program the creator has made.

For programs which pay out directly on referral, the point of contract fulfilment is when referral happens and there is no need for contract to have a need for refunding advertisers. This is our goal implementation at the moment.

As for programs that may payout on sales, again we want this to be autonomous. This is a more complicated scenario. There are solutions that allow third party APIs (let's say paypal in this example) to integrate and fulfil contracts. One such example is Chainlink (https://smartcontract.com/) and we will surely be looking at integrating this in the near future.

Hey, i'm a dev on this project. Thanks for taking interest.

Where we see Referex really working well is with referral campaigns that run across multiple sites and that anyone can contribute to. There is currently too much friction for ordinarily people to get involved in referral programs. With Referex, anyone can join a program and begin distributing their referrals. Once usecase which is very applicable here is ICOs. Unfortunately, currently referral programs created for an ICO involve manual work where the founders have to process referrals centrally and send tokens to users have made eligible referrals. With Referex, this process is 100% automatic - and people who refer are paid out immediately.