This is how the pitch starts out. Sounds simple right? This is one of the most recent companies in the Crypto MLM niche, I first came across it in April of this year so I decided to take a look to see what it was all about. There is no readily available information on who runs or owns the company. The website claims it has no admins, so how does it work? There is always someone involved. It appears to be another Russian MLM scheme in which only the early investors make any money. The domain “forsage.io” was privately registered on February 9th, 2020. Any good crypto/blockchain should be open, and transparent. Forsage has no retail products or services, only affiliate membership referal. Affiliate membership is a payment of 0.05 ETH.
How the scam works:
- Forsage affiliates buy 0.05 ETH matrix cycler positions.
- Matrix sizes used in Forsage cycler are 3?1 and 2?2.
- A 3?1 Matrix has three positions under your main position. 2?2 matrix starts with two positions on the level 1 and expands to four positions on level 2.These positions can be filled directly or indirectly by downline members. Cycle commissions across Forsage’s two cycler tiers are done in the following way:
- 3?1 matrix (entry is 0.025 ETH of the initial 0.05 ETH buy in) – generates 0.05 ETH in gifting payments and entry into a new 3?1 matrix
- 2?2 matrix (entry is 0.025 ETH of the initial 0.05 ETH buy in) – generates 0.075 ETH in gifting payments and entry into a new 2?2 matrix
The verdict: Only early "Investors" will profit. The last investors will make nothing. I had my membership paid by someone eslse, never spent a cent, never made a cent, never even got a referal. I would advise staying away from this one.
I don't recommend, but if you feel the need to test for yourself here: Forsage
Original post here: http://atomio.tech/index.php/articles/40-forsage-smart-contract-scam
