FOMO5K offers no data on its web site about who owns or runs the corporate.
FOMO5K’s web site area (“fomo5k.io”) was privately registered on January 2nd, 2020.
As at all times, if an MLM firm is just not overtly upfront about who’s operating or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
FOMO5K’s Merchandise
FOMO5K has no retailable services or products, with associates solely capable of market FOMO5K affiliate membership itself.
FOMO5K’s Compensation Plan
FOMO5K associates present ethereum to one another through two 2×5 matrices.
A 2×5 matrix locations an affiliate on the high of a matrix, with two positions instantly below them:
These two positions type the primary degree of the matrix. The second degree of the matrix is generated by splitting these first two positions into one other two positions every (4 positions).
Ranges three to 5 of the matrix are generated in the identical method, with every new degree housing twice as many positions because the earlier degree.
Every degree of the matrix requires a gifting cost to be made with a purpose to unlock it.
As soon as unlocked, positions crammed on the matrix degree generate gifting funds.
Positions within the matrix are crammed through direct and oblique recruitment of FOMO5K associates.
Sequential gifting funds throughout FOMO5K’s two 2×5 matrices are as follows:
- Matrix 1, degree 1 – present 0.1 ETH and obtain 0.1 ETH from two associates
- Matrix 1, degree 2 – present 0.16 ETH and obtain 0.16 ETH from 4 associates
- Matrix 1, degree 3 – present 0.3 ETH and obtain 0.3 ETH from eight associates
- Matrix 1, degree 4 – present 1 ETH and obtain 1 ETH from sixteen associates
- Matrix 1, degree 5 – present 3 ETH and obtain 3 ETH from thirty-two associates
- Matrix 2, degree 1 – present 8 ETH and obtain 8 ETH from two associates
- Matrix 2, degree 2 – present 16 ETH and obtain 16ETH from 4 associates
- Matrix 2, degree 3 – present 31 ETH and obtain 31 ETH from eight associates
- Matrix 2, degree 4 – present 60 ETH and obtain 60 ETH from sixteen associates
- Matrix 2, degree 5 – present 120 ETH and obtain 120 ETH from thirty-two associates
FOMO5K’s compensation documentation states “each degree works 100 days”. This means that gifting funds are on a 100 day subscription.
Becoming a member of FOMO5K
FOMO5K affiliate membership is tied to an preliminary 0.1 ETH gifting cost.
Full participation in FOMO5K’s revenue alternative prices 239.56 ETH.
Conclusion
On its web site, FOMO5K states
Solely a single funding of 0.1ETH ($24.20) provides you with an opportunity to get 5,000 ETH ($1,210,171.01) each 100 days.
The prospect facet comes all the way down to recruitment, owing to FOMO5K being a easy gifting scheme.
You join, present ethereum to individuals who joined earlier than you. By way of lively or passive recruitment, you then obtain gifting funds from those that be a part of after you.
By way of a number of preloaded positions, FOMO5K’s nameless admin receives nearly all of ethereum gifted in.
This occurs as a result of every matrix will increase funds re-gifted into the system. First to obtain these funds are the admin’s place(s).
A couple of early adopters will obtain what’s left, with nearly all of FOMO5K associates in the end taking a loss.
This occurs when recruitment dies off, identical as every other gifting scheme.