Allow Current Affiliates to Refer new Affiliates?

I’m trying see if this is possible, I want to allow current affiliates to refer new ones and receive a percentage of each sale from the members they have referred, is this currently a function I can do? If not has anyone done something similar?

I currently have on our signup page the last line as optional saying “Did Someone Refer you? Add Their Name Here”

But I’m unsure the best method to track it or what to do on that end.

I have premium, I know this is a area for free help but I figured maybe someone can help!