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terms-and-conditions.md

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*Updated as of Sep 1, 2023

Terms & Conditions

As a new user/referral, you must adhere to the following rules and guidelines:

  1. A Referral must be a new user and must not have interacted or signed with the PancakeSwap platform or used any of PancakeSwap’s services (including but not limited to V2, V3 swapping services, perpetual trading, Non-Fungible Tokens and related services, initial farm offerings and similar offerings) (“PancakeSwap Services''). 1.1 Once a new user/referral has signed up through an affiliate link the referral relationship has been established and you cannot change the referrer.
  2. Subject to commissions shared by affiliates, referrals may be eligible for the following discounts: (a) You are eligible for a discount on trading fees you paid on PancakeSwap V2 and PancakeSwap V3, limited to Swap trades on the BNB Smart Chain, Ethereum chain, Polygon zkEVM, zkSync Era, Arbitrum One, Linea, and Base chain only if the affiliate has enabled profit sharing. The discount will only be offered for a limited period of time, please refer to point 16 for more details.The exact discount rate you receive depends on the rate displayed to you through the affiliate link. If there were no discount rate displayed to you through the affiliate link, it means you will not receive any discounts for swap trades on PancakeSwap. (b) You are eligible for a discount on trading fees you paid for StableSwap trades only if the affiliate has enabled profit sharing. The discount will only be offered for a limited period of time, please refer to point 16 for more details. The exact discount rate you receive depends on the rate displayed to you through the affiliate link. If there were no discount rate displayed to you through the affiliate link, it means you will not receive any discounts for trades on PancakeSwap. The discount will only be for a limited period of time, please refer to point 16 for more details. 2.1 To be eligible for discounts, the Swap and StableSwap trades must have a token pair that: (a) Is in the PancakeSwap Token list for the following chains (BNB Smart Chain, Arbitrum One, Base, Ethereum, Linea, Polygon zkEVM, zkSync Era) and (b) includes at least 1 major token (i.e., BNB, BTC, BUSD, ETH, MATIC, ARB, DAI, USDT and/or USDC) (c) a slippage (i.e., the difference between a trade's expected or requested price and the price at which the trade is effectively executed) of less than 10%
  3. You are eligible for a discount on trading fees you paid for v1 perpetual trades only if the affiliate has enabled profit sharing and you are located in a jurisdiction that does not prohibit you from trading derivatives on the platform (e.g not citizens and residents of the United States of America). The discount will only be offered for a limited period of time, please refer to point 16 for more details. The exact discount rate you receive depends on the rate displayed to you through the affiliate link. If there were no discount rate displayed to you through the affiliate link, it means you will not receive any discounts for trades on PancakeSwap. (a) Limited to v1 perpetual trades on the BNB Chain and Ethereum chain only, (b) The trading fees on v1 perpetual trades (or any position which may incur liquidation fees) do not include any liquidation fees for liquidating your position.
  4. All discounts will be paid out in CAKE tokens.
  5. All discounts are calculated upon the completion of every on-chain transaction and denominated in U.S. dollars as follows. This means that: (a) At or around the time that the Referral pays the trading fees, we will calculate the prevailing USD price of the trading fees (and your discounts) using the prevailing USD price of the tokens that the trading fees are denominated in (“Trading Fees Denomination”) at that time; and (b) At or around the time that the discounts are paid out to you, using the USD value calculated in Clause 5(a), we will calculate your discounts in CAKE tokens using the prevailing USD price of CAKE tokens at that time.
  6. In calculating your discounts, we reserve the right to determine the: (a) prevailing USD price of the Trading Fees Denomination and the CAKE tokens by reference to the spot price on a centralised exchange, the exchange rate in a liquidity pool, or a data oracle in our sole discretion; and (b) exact timing at which the prevailing price is taken at.
  7. Our system will generate a report of the discount that you have earnt on a dashboard which we will provide you access with.
  8. You may request to redeem your discounts once a month, subject to changes made at our sole discretion, with notice to you.
  9. Redemptions are done on a monthly basis, subject to changes made at our sole discretion, with notice to you.
  10. You shall be responsible for paying all taxes, charges, levies, assessments and other fees of any kind imposed on your involvement in this Program.
  11. Discounts are accrued only when the following conditions are met: (a) The New User / Referral signs up using a unique affiliate link; (b) The New User / Referral pays the trading fees; and (c) PancakeSwap receives the trading fees.
  12. Provided that we do not prejudice any discounts already accrued by you, we reserve the right to unilaterally vary upon notice to you at any time, the following: (a) discounts rates, terms and eligibility of the discounts; and/or (b) rules of the Affiliate Program.
  13. We may elect to revise the discount rates, terms and eligibility of the discount on a monthly basis considering circumstances including but not limited to: (a) Change in the business environment; (b) unexpected trading volumes or activity by the Referrals; and/or (c) unsuitable trading profile of the Referrals.
  14. We reserve the right to make changes to, vary, or even discontinue the services to the Referrals at our discretion at any time (e.g., the swap or perpetual services). For the avoidance of doubt, the trading fees charged on the services or any platforms or providers used in the course of providing the services may be changed or varied.
  15. You may not privately share (or make any arrangements to share) your discounts with your Referrer.
  16. In the event of termination of the Affiliate, the New User / Referral will not be eligible for any further discounts (i.e., discounts will cease to accrue) from the date of termination of the Affiliate. (a) New User / Referral will receive a notification through the Referral dashboard once the discounts are ceased
  17. PancakeSwap reserves the right to terminate this Program in its entirety with or without cause.