When a user fills out the affiliate registration form, they have the option to enter their “preferred coupon code”.
Then when you accept the affiliate registration application, the coupon code will be created automatically and assigned to the user.
Optionally, you can disable the “preferred coupon code” field on the affiliate registration form, and instead generate a coupon code dynamically.
When enabled, you can customise the format of the coupon code that will be generated, with custom text and merge tags.
Here’s an example of the settings: