Referral relationship tracking

Is there any way to track the referral relationship? Need to develop a referral program that could grow exponentially.

Every user needs to have a unique permanent referral link, through which his/her referees can sign up. So every user can have a list of referred users.

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See Multiple Use Invite Links For All! and Multiple Use Invite Links

I believe the usage of invite links is already tracked, so the bones of a system are there.