This is an extremely generous referral program that you've got, well done 😉
Surely you're operating at a significant loss.
I joined at the start of Chaos Legion and my referrer didn't really give me anything 🤣

I did face one of your referees in ranked and I noticed his account was looking rather conspicuous but I get it now.

At the same time I must say the game would feel much more enjoyable to low level players in ranked games if they reverted the rules for summoner levels around specific ratings.
New players joining might not even know this is a thing but to me the game was much more fair and fun back then and it hasn't felt the same since.