FastBNB supplies no data on its web site about who owns or runs the corporate.
FastBNB’s web site area (“fastbnb.io”), was privately registered on October sixth, 2021.
Additional analysis reveals associates citing Biman Das because the creator of FastBNB.
Das was tied to YoCoin. BehindMLM reviewed YoCoin in 2016 and recognized it as a shitcoin pump and dump rip-off.
On the time of publication YoCoin hid its govt’s particulars. This was later modified, revealing Das was Vice President of the corporate.
Sooner or later (or presumably from the start), Das started crediting himself as YoCoin’s CEO.
YoCoin is believed to have collapsed by the tip of 2016.
Primarily based on his LinkedIn profile, Biman Das relies out of West Bengal in India.
Alexa at the moment ranks high sources of site visitors to FastBNB’s web site as India (13%), Canada (10%) and Vietnam (9%).
As at all times, if an MLM firm isn’t overtly upfront about who’s working or owns it, suppose lengthy and laborious about becoming a member of and/or handing over any cash.
FastBNB’s Merchandise
FastBNB has no retailable services or products.
Associates are solely in a position to market FastBNB affiliate membership itself.
FastBNB’s Compensation Plan
FastBNB associates make investments bincance coin (BNB) on the promise of marketed returns.
- Hen Farming – make investments 0.1 BNB or extra and obtain 1.25% a day (no restrict)
- Cow Farming – make investments 0.1 BNB or extra for 150 days and obtain 2.5% a day
- Ox Farming – make investments 0.1 BNB or extra for 90 days and obtain 3% a day
The MLM facet of FastBNB pays on returns paid to recruited associates.
Referral Commissions
FastBNB pays referral commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel crew, with each personally recruited affiliate positioned instantly beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel crew.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
FastBNB caps payable unilevel crew ranges at ten.
Referral commissions are paid out as a share of BNB invested throughout these ten ranges as follows:
- degree 1 (personally recruited associates) – 6%
- degree 2 – 4%
- degree 3 – 3%
- degree 4 – 2%
- degree 5 – 1%
- ranges 6 to 10 – 0.5%
Seed Earnings
FastBNB’s Seed Earnings pays 10% of returns paid to personally recruited associates.
The corporate’s compensation materials states Seed Earnings is paid “downline upto 100 Degree”, however doesn’t present specifics past the primary degree.
Becoming a member of FastBNB
FastBNB affiliate membership is free.
Full participation within the hooked up earnings alternative requires a minimal 0.3 BNB preliminary funding.
FastBNB Conclusion
FastBNB is an easy smart-contract Ponzi scheme.
You join, make investments BNB and your funding is paid to earlier buyers.
In flip you then hope to steal funds invested after you.
The MLM facet of FastBNB operates as a pyramid scheme to drive recruitment, with out which FastBNB collapses.
As with all MLM Ponzi schemes, math ensures nearly all of FastBNB affiliate buyers will lose cash.
Replace 18th February 2022 – FastBNB has collapsed.