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Rebates Program - Terms & Conditions

Last updated: 16.01.2025

These Terms & Conditions (“Terms”) govern participation in the rebate program (“Rebate Program”) offered by ElfomoFi (“we”, “our”, “us”) to eligible integration partners, including but not limited to DEX aggregators and solvers (“Partner”, “you”, “your”). By participating in the Rebate Program, you agree to these Terms.

1. Program Overview​

The Rebate Program returns a percentage of the trading volume (“Rebate Volume”) routed to ElfomoFi by Partners during a calendar month in the form of USDC (“Rebate”). Rebates are paid monthly for the prior calendar month.

2. Eligibility​

To participate in the Rebate Program, Partners must:

  1. Be approved by ElfomoFi.
  2. Integrate ElfomoFi execution routes into their routing stack.
  3. Provide address for receiving USDC

3. Rebate Calculation​

Rebates are calculated on a per-swap basis using:

  • Executed Swap Volume
  • Partner Tier
  • Pool Type

The total monthly rebate is the sum of rebates across all eligible swaps.

Formally: Monthly Rebate = Σ (Swap Volume × Rebate Rate(Tier, Pool Type))
Rebate rates differ between pool types (e.g., volatile, major, stable) and between tiers.

4. Tier Determination​

Partner Tier for month M is determined by the Partner’s total routed volume during calendar month M-1.

Tiering is based solely on verifiable on-chain executed volume routed to ElfomoFi. Failed, simulated, test, or reverted transactions do not contribute to volume.

ElfomoFi may review and adjust tier boundaries, volume thresholds, and rate tables at any time.

5. Reporting Period​

The reporting period is a calendar month, defined as:

00:00:00 UTC on the 1st day → 23:59:59 UTC on the last day.

6. Payment & Settlement​

  • Rebates are paid in USDC
  • Rebates are paid at the beginning of each month for the previous calendar month
  • Payments are sent to a Partner-provided address
  • Partners must maintain a valid USDC-receiving address and update ElfomoFi if it changes

If a Partner fails to provide or update a valid address, payments may be delayed.

7. Restrictions & Exclusions​

ElfomoFi may exclude any activity from Rebate calculations that:

  • Is artificial or manipulative (e.g., wash trading, spoofing, routing loops)
  • Does not result in genuine execution flow
  • Intends to inflate volume without legitimate economic intent
  • Is in violation of any applicable law or regulation

Suspicious activity may result in forfeiture of Rebates.

8. Changes to the Program​

ElfomoFi may:

  • Update rebate tiers
  • Change rate tables
  • Adjust eligibility rules
  • Pause the program
  • Terminate the program

Changes apply prospectively — changes do not retroactively modify previously accrued rebates.

9. Data & Verification​

ElfomoFi is the source of truth for volume measurement. Volume is determined using ElfomoFi’s internal accounting and on-chain execution data.

Partners may request reporting breakdowns. ElfomoFi may provide such data at its discretion.

10. Compliance & Legal​

Partners are solely responsible for:

  • Tax obligations
  • Regulatory compliance
  • Accounting treatment
  • Reporting requirements

ElfomoFi does not provide legal, tax, or accounting advice.

11. Limitation of Liability​

To the maximum extent permitted by law, ElfomoFi will not be liable for:

  • Lost profits
  • Lost revenue
  • Indirect, incidental, or consequential damages
  • Delays in reporting or settlement

Rebate amounts are not guaranteed and may vary based on execution and market conditions.

12. Termination​

Either Party may terminate participation in the Rebate Program at any time. Upon termination, Rebates will be paid for all eligible periods up to the termination date.

13. Program Acceptance​

Participation in the Program constitutes acceptance of these Terms. Continued participation following updates to the Terms constitutes acceptance of the updated Terms.