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Every account has one code to start with. You can hold up to 10, each with its own link and its own count. The point is attribution: one code in your group, one on X, one for a specific post, and the Rewards screen tells you which of them is working. Open Rewards → Manage Referral Codes.

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Rules

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Creating one

Tap New code and send the name you want. It gets its own link immediately, and its own referral count from then on. All codes pay into the same earnings balance — the split is only for telling them apart.

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Renaming

A code can be renamed. Its referrals and its earnings stay attached to it.
Links using the old name stop working. If you have already posted a link, renaming its code breaks it. Create a new code instead of renaming one that is already out in the world.

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Deleting

Deleting a code removes the code, not the people. Referrals you already have and earnings you have already made stay in your account; only the link stops working. Your main code cannot be deleted — it is the one on every link you have shared, including the ones on share cards and group posts.

A bare referral link

Fine for a bio or a DM. It opens Dawn at the home screen.

A coin's share card

Much better in practice. It opens a specific coin with a buy ready — see Share links.