EzyTRX supplies no info on its web site about who owns or runs the corporate.
EzyTRX’s web site area (“ezytrx.io”) was privately registered on September fifth, 2020.
On its web site EzyTRX falsely claims the corporate ‘has no firm, no leaders, or admins)’.
On EzyTRX’s official YouTube channel, the founding father of the corporate is revealed to be Nicklaus D’Cruz.
On his LinkedIn profile D’Cruz cites himself as a “crypto & blockchain investor” based mostly out of Singapore.
I wasn’t in a position to put collectively an MLM historical past on D’Cruz.
Having gone over EzyTRX’s enterprise mannequin beneath nevertheless, I’m assured D’Cruz has expertise with smart-contract fraud.
Learn on for a full evaluate of EzyTRX’s MLM alternative.
EzyTRX’s Merchandise
EzyTRX has no retailable services or products, with associates solely in a position to market EzyTRX affiliate membership itself.
EzyTRX’s Compensation Plan
EzyTRX’s compensation plan is damaged up into two parts, direct referral commissions and matrix commissions.
EzyTRX refers to those commissions as EZ1 and EZ10 respectively.
New EzyTRX associates join and pay 1000 TRX, which is break up 50/50 between the referral and matrix commissions.
Referral Commissions (EZ1)
EzyTRX associates earn a 50% fee on charges paid by personally recruited associates.
Notice that if the recruited affiliate invests in larger matrix tiers than the affiliate who recruited them, solely 50% of the 50% referral fee is paid out (successfully 25% of charges paid).
Matrix Commissions (EZ10)
EzyTRX makes use of a 3×10 matrix to pay matrix commissions.
A 3×10 matrix locations an affiliate on the high of a matrix, with three positions straight below them.
These three positions kind the primary stage of the matrix. The second stage of the matrix is generated by splitting these first three positions into one other three positions every.
Ranges 3 to 10 of the matrix are generated in the identical method, with every new stage housing 3 times as many positions because the earlier stage.
500 TRX of an affiliate’s authentic 1000 TRX buy-in is used to fund a first-tier matrix place.
One arrange, an EzyTRX affiliate then earns 10% of 500 TRX used to fill positions of their matrix.
Positions are crammed by subsequent place purchases, by straight or not directly recruited EzyTRX associates.
Extra Tiers
There are ten tiers inside EzyTRX’s compensation plan.
Along with the 1000 TRX first tier detailed above, the opposite 9 tiers are as follows:
- 2000 TRX
- 5000 TRX
- 10,000 TRX
- 25,000 TRX
- 50,000 TRX
- 100,000 TRX
- 200,000 TRX
- 500,000 TRX
- 1,000,000 TRX
Every tier pays out precisely the identical as the primary tier detailed above. 50/50 break up between referral commissions and the three×10 matrix.
Becoming a member of EzyTRX
EzyTRX affiliate membership begins at 1000 TRX.
Full participation in EzyTRX’s revenue alternative prices 1,893,000 TRX.
Conclusion
EzyTRX is a straightforward pyramid scheme run by way of a smart-contract.
{That a} smart-contract is used doesn’t legitimize fraud. Nor does it change how a pyramid scheme in the end performs out.
Nicklaus D’Cruz and those that get in early will steal a lot of the TRX paid in by advantage of early entry to the upper tiers.
That is the place a lot of the cash paid into EzyTRX winds up.
Math ensures nearly all of EzyTRX associates will lose out.
If you wish to see this in apply look no additional than EzyETH, the short-lived authentic incarnation of EzyTRX.
EzyTRX itself seems to both have collapsed on be on the snapping point, prompting D’Cruz to announce EzyTRX 2.
Particulars of the reboot smart-contract are but to be made public. Regardless, be it one other cookie-cutter pyramid or Ponzi mannequin, the end-result would be the identical.
Nicklaus D’Cruz will make off with nearly all of funds paid in. Everybody else loses out.