You read the title right!
The amount of galleons increases with each new member you refer!
For example, you get 5g for your first referral, 10g for the next, 15g for the next, and finally 20g! The rest after the 4th are all 10g.
I figured there needed to be more ways to get galleons, and this seemed like a good option.
In order for the referral to be rewarded, the player you asked to join will have had to submit a bio. After the bio is accepted, you'll get your reward.