As part of Donut's ongoing quest to make DeFi investing simple, fast and easy, we're introducing a new way to earn even more—Boosts that reward your activity with even more interest.
When our team sat down to think of ways to improve Donut, one question kept coming up: "how can we make earning with DeFi a little more fun?" Unlocking achievements is enjoyable, but earning more interest is even better. So, we arrived at a feature that combined both: Boosts.
The first available Boost is called "Refer a friend" and more are on the way. It's super simple: share Donut with your friends, earn +1% APY for 30 days after they make a deposit.
Curious? Here's how it works:
How do I refer friends to Donut?
- Tap "Boost your interest" on the home screen
- Select "Refer a friend" from the opportunities list
- Share your referral link to your soon-to-be-lucky friend
- Remind them (multiple times) to sign up and enter your handle
- When they make their first deposit, you'll each earn +1% APY for 30 days
How does the 'Refer a friend' Boost work?
It's easy. Refer a friend and earn 5% APY for 30 days after they make their first deposit.
While your Boost is active, you receive +1% APY no matter what—whether you use Fixed or Variable. Your homescreen will now display your total interest rate (e.g. 5% for Fixed) and show the Boost value in orange text below the total interest rate.
You can refer up to 6 friends with your handle, which means you can earn:
Refer 1 friend = +1% for 30 days
Refer 3 friends = +1% for 90 days
Refer 6 friends = +1% for 180 days
Refer 10 friends = nice try, you're capped at 6!
How can my friend activate their referral Boost?
There are two ways to activate a referral Boost.
The first and easiest way is for your friend to simply follow the link you provide via text. In most cases, following this link should automatically apply a 1% referral Boost to their account (and your own account) once they set up and make their first deposit.
If your personal referral link does not work or register for any reason, your friend can tap "Invited by a friend?" on the homescreen and enter your Donut @handle manually. Once they complete sign up and make their first deposit, the 1% Boost will apply for 30 days.
Can I pause and reactivate my Boost?
Not at the moment. Your Boost will activate automatically after your friend makes their first deposit. For now, you cannot pause a boost, but as this feature evolves and other Boosts launch, we plan to provide this option.
What if my friend signs up but doesn't make a deposit?
We can help you earn APY but we can't help you pick friends...
You can share your referral link with as many people as you like, but only 6 of them may use it to sign up and unlock a Boost.
I'm a longtime Donut user and have referred friends already, do I still have a chance to boost my interest?
Yes! Even if you claimed all 3 of your previous referral bonuses, you will now be able to invite up to 6 friends and earn 30 days of +1% APY for each friend who makes a deposit.
Are there other ways to boost my interest?
Our team is working on tons of future Boost opportunities, including APY rewards for activities in and out of the app such as reaching an account size of $10k, setting up Collect or posting about us on Twitter.
If you have any Boost ideas, you can share them with our team here. Stay tuned for more soon!
While more Boost opportunities are on the way, we hope you all take advantage of the chance to earn even more interest by inviting your friends to Donut. If you have any trouble sharing your referral link or claiming your Boost, please don't hesitate to reach out by e-mail or DM us in app. Our support team is here to make sure you're always earning!
Real Talk 🚨
Any saving and investment strategy puts your capital at risk.
The above information is intended for informational purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.