Etherz offers no data on its web site about who owns or runs the corporate.
Etherz’s web site area (“etherz.io”) was privately registered on July 1st, 2020.
On the time of publication Alexa estimates 85.7% of site visitors to Etherz’s web site originates out of India.
This strongly suggests whoever is operating Etherz is predicated out of India.
As all the time, if an MLM firm just isn’t overtly upfront about who’s operating or owns it, assume lengthy and exhausting about becoming a member of and/or handing over any cash.
Etherz’s Merchandise
Etherz has no retailable services or products, with associates solely capable of market Etherz affiliate membership itself.
Etherz’s Compensation Plan
Etherz associates make investments ethereum on the promise of marketed returns, paid by way of a 2×16 matrix.
A 2×16 matrix locations an Etherz affiliate on the prime of a matrix, with two positions instantly underneath them.
These two positions kind the primary stage of the matrix. The second stage of the matrix is generated by splitting these two positions into one other two positions every (4 positions).
Ranges three to sixteen of the matrix are generated in the identical method, with every new stage housing twice as many positions because the earlier stage.
Every stage of Etherz’s matrix features as a fee tier. Associates purchase into the tier, which qualifies them to obtain funds from associates who purchase in after them.
Funds throughout all sixteen Etherz matrix fee tiers are as follows:
- stage 1 – make investments 0.03 ETH and obtain 0.03 ETH from 2 associates (0.06 ETH)
- stage 2 – make investments 0.05 ETH and obtain 0.05 ETH from 4 associates (0.2 ETH)
- stage 3 – make investments 0.08 ETH and obtain 0.08 ETH from 8 associates (0.64 ETH)
- stage 4 – make investments 0.23 ETH and obtain 0.23 ETH from 16 associates (3.68 ETH)
- stage 5 – make investments 0.84 ETH and obtain 0.84 ETH from 32 associates (26.88 ETH)
- stage 6 – make investments 1 ETH and obtain 1 ETH from 64 associates (64 ETH)
- stage 7 – make investments 2 ETH and obtain 2 ETH from 128 associates (256 ETH)
- stage 8 – make investments 4 ETH and obtain 4 ETH from 256 associates (1024 ETH)
- stage 9 – make investments 8 ETH and obtain 8 ETH from 512 associates (4096 ETH)
- stage 10 – make investments 16 ETH and obtain 16 ETH from 1024 associates (16,384 ETH)
- stage 11 – make investments 32 ETH and obtain 32 ETH from 2048 associates (65,536 ETH)
- stage 12 – make investments 64 ETH and obtain 64 ETH from 4096 associates (262,144 ETH)
- stage 13 – make investments 128 ETH and obtain 128 ETH from 8192 associates (1,048,576 ETH)
- stage 14 – make investments 256 ETH and obtain 256 ETH from 16,384 associates (4,194,304 ETH)
- stage 15 – make investments 512 ETH and obtain 512 ETH from 32,768 associates (16,777,216 ETH)
- stage 16 – make investments 1024 ETH and obtain 1024 ETH from 65,535 associates (67,108,854 ETH)
Becoming a member of Etherz
Etherz affiliate membership is tied to a minimal 0.03 ETH funding.
Full participation in Etherz’s earnings alternative prices 2048.23 ETH.
Conclusion
Etherz is an easy smart-contract Ponzi scheme.
New associates enroll and make investments 0.03 ETH or extra. This cash is paid to an affiliate who joined earlier than them (usually however not all the time the recruiter).
In flip, the affiliate qualifies to obtain funds from these recruited after them.
By means of this enterprise mannequin, Etherz combines parts of Ponzi and gifting schemes.
As with all such schemes, sustainability is tied to fixed recruitment of recent associates feeding into the 0.03 ETH stage of the matrix.
By nature of ethereum funds doubling every stage, many of the huge cash strikes across the higher matrix ranges.
Positions preloaded by Etherz nameless admins are positioned on these ranges first, thus making certain they finally obtain nearly all of funds invested.
A couple of early adopters will obtain what’s left, with nearly all of Etherz associates finally taking a loss.
As per Etherz’s web site, the exit-scam of selection seems to be an ERC-20 shittoken.
Given the unique smart-contract runs on ethereum, I think about when the time comes Etherz’s proprietor(s) will merely launch a brand new scheme with their in-house token.
Whether or not that materializes or they merely simply disappear stays to be seen.
Both means Etherz associates are getting scammed.