I attended the INLEO AMA live conference last night, where many users and the host discussed building value and onboarding new users. The talk lasted more than an hour and was really insightful and educational. This session drew almost 200 users, which was undoubtedly valuable to all of us in every way.

One of the users, whose name I have forgotten, provided his thoughts on how to onboard new users. I just caught his point and decided to make a follow-up post on it. He believes that a referral system is one of the most effective ways to enroll new users. His point of view is interesting to me, and I simply agree with him.

The question now is which referral is more advantageous for onboarding users. Either completely free or users should be compensated for each referral. It is undeniable that referral without payment makes it difficult for users to get new users onto the site. However, if there are any attractive referral bonuses, people will undoubtedly be interested and will show their effort. This is because people are all the time in search of finding ways of earning.

Similarly, the #Ecency front-end rewards people who refer new users with bonus points. When I joined the hive platform, I learned about the ecency referral mechanism. Believe me when I say that with the help of #Ecency, I've brought more than ten users to the hive platform. The only reason was that they were giving points that you could use to boost and promote your post.

Similarly, #Binance is now the largest exchange and has a referral system. Their referral system is simply great, with numerous awards for users who bring in new users. If you successfully refer a friend to the exchange, Binance will award them with a $100 trading rebate a voucher.

Trading fees can be paid with a $100 rebate voucher. That is, your every trade will be free until your $100 is depleted. With this amount, you can trade more than 50 pairs, which is a huge benefit for the person who onboards new users. In the same greed, I invited roughly 7 new members and received a referral incentive in the form of a trade rebate voucher which helped me alot.

So, why does the #hive platform lack this helpful feature for onboarding new users? I really believe that a referral bonus system for individuals who introduce new users to the hive platform is essential. You will notice how quickly this platform will expand if there are good awards for people who invite other users to the platform.

When there are awards for on-boarding, users will be interested and will try their best to invite their friends, family members, and members of society. There are numerous users that have best skills at marketing or bringing friends into the ecosystem.

So, why are those users not given the opportunity to do their best and invite as many people as possible? If one individual invites roughly ten people, we will onboard 1000 users on a monthly basis. It is certain that if I discover a good prize to match my invitation, I will do it with greater enthusiasm, and once I get that award, I will make every attempt to invite the next person.

The question now is who organizes those prizes, whether in the form of tokens, hive, hbd, or any other way. How they manage will most likely be decided by 20 witnesses. I have a suggestion for a referral prize: if all users pay 5 #hive every month for the purpose of referral to be paid to the users.

There are currently thousands of active users on the hive platform. If each of them donates roughly 5 hive on a monthly basis and we pay hive prizes to the people who are on-boarding new users through a proper mechanism, there will be no difficulty. This is my opinion, and I will be the first one to pay 5hive on a monthly basis.

We don't need to pay for five hive for a lifetime; we just need six months to onboard new users. During this time period, a large number of users will join the platform, and we will be able to reduce the hive prize for the future. There are other referral prize distribution options available, and people can offer their thoughts in the section for comments.

This is my attempt to convey my opinions on the referral bonus system and how hive can compensate referrals with various incentives. I also talk about how we can simply onboard new users into the platform. I hope you find this post educational and informative, and I hope you enjoy it. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.

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