OpenAlexa nonetheless gives no data on their web site about who owns or runs the corporate.
A reader just lately reached out to let me know that since BehindMLM’s authentic June 2020 overview, OpenAlexa’s compensation plan had been modified.
I confirmed and so right here we’re with an up to date OpenAlexa overview.
On the time of launch OpenAlexa was primarily being promoted in India. Alexa estimated 92% of OpenAlexa’s web site site visitors originated out of India.
Whereas OpenAlexa nonetheless undoubtedly has tied to India, since then promotion and recruitment has migrated to the US.
At this time Alexa attributes the US as contributing 60% of OpenAlexa’s web site site visitors. India is the second largest supply of site visitors at 31%.
Spearheading US promotion of OpenAlexa is a girl going by “Mrs. Etherlite”.
I used to be in a position to establish this particular person as Gale J. Gajardo, a resident of California within the US.
Gajardo isn’t any stranger to MLM crypto Ponzi schemes. Previous to OpenAlexa, Gajardo was selling Suponic World.
In between selling MLM crypto Ponzi schemes, Gajardo works as a Dealer Account Govt at Scan Well being Plan.
OpenAlexa advertising materials credit Gale Gajardo as an OpenAlexa “World Chief”.
As per the schedule above, Gajardo is joined by Munir Jannedy, Daniel Wang, Dr. Loago and Dr. Debass.
Of the opposite leaders Munir Jannedy seems to be probably the most seen, generally becoming a member of Gajardo on OpenAlexa advertising shows.
Jannedy (proper) has ties to Germany and I imagine is probably going OpenAlexa’s bridge between India and the remainder of the world.
Jannedy has a protracted affiliation with fraudulent schemes. He popped up on BehindMLM’s radar in connection to Advertisements Revenue Reward again in 2013.
Going again additional, in 2009 Jannedy was selling the TVI Specific Indian pyramid scheme:
Extra just lately Jannedy was selling Crowd1, one other Ponzi scheme.
Between TVI Specific (2009) and Crowd1 (2020), Jannedy was seemingly selling any variety of fraudulent schemes.
As at all times, if an MLM firm just isn’t overtly upfront about who’s working or owns it, suppose lengthy and onerous about becoming a member of and/or handing over any cash.
OpenAlexa’s Merchandise
OpenAlexa has no retailable services or products.
OpenAlexa associates are solely in a position to market OpenAlexa affiliate membership itself.
OpenAlexa’s Compensation Plan
Open Alexa’s authentic enterprise mannequin was a easy ethereum smart-contract gifting scheme.
Full particulars can be found in our authentic OpenAlexa overview.
That gifting mannequin continues to be energetic inside OpenAlexa, nonetheless since June 2020 further compensation has been added.
On prime of their ethereum gifting scheme, OpenAlexa can also be working “BinPro”.
BinPro ties into the launch of OAP tokens, on or round October 2020.
The premise behind BinPro is changing the unique matrix mannequin with a binary compensation construction.
A binary compensation construction locations an affiliate on the prime of a binary group, break up into two sides (left and proper):
The primary degree of the binary group homes two positions. The second degree of the binary group is generated by splitting these first two positions into one other two positions every (4 positions).
Subsequent ranges of the binary group are generated as required, with every new degree housing twice as many positions because the earlier degree.
Positions within the binary group are crammed by way of direct and oblique recruitment of associates. Observe there isn’t a restrict to how deep a binary group can develop.
Observe that OpenAlexa associates should join the unique gifting scheme earlier than they’ll take part in BinPro.
BinPro binary positions are bought in ethereum:
- Bronze – 0.1 ETH
- Silver – 0.3 ETH
- Gold – 1 ETH
- Diamond – 3 ETH
- Platinum – 5 ETH
A ten% referral fee is paid on BinPro positions bought by personally recruited associates.
Residual commissions are paid each day as 15% of ETH invested on the weaker binary group facet.
BinPro positions are capped at a 1000% ROI (ten time the quantity invested), after which reinvestment is required to proceed incomes.
Whether or not reinvestment at the next BinPro place is required is unclear.
Becoming a member of OpenAlexa
OpenAlexa affiliate membership is free.
Naked minimal participation within the connected earnings alternative requires a 0.03 ETH gifting fee, and 0.1 ETH BinPro funding place.
Full participation in OpenAlexa prices 132.68 ETH for the gifting scheme and 9.4 ETH for BinPro.
Conclusion
OpenAlexa is following your typical MLM crypto scheme trajectory.
The unique mannequin collapses, reboot with a brand new shitcoin. Wash, rinse and repeat for so long as you possibly can.
OAP seems to have run its course, following one final pump to ~$7.30 earlier this month. It might pump once more, all of it is dependent upon whether or not new victims are recruited into OpenAlexa.
To that finish we’ve EtherLite (ETL), being pitched as a fork of Ethereum.
A fork is principally copy and paste, generally with modifications generally with out.
EtherLite is being pitched as an answer to ethereum’s excessive charges and gradual transactions occasions.
That seems to come back right down to nothing greater than the truth that much less folks will probably be utilizing it.
OpenAlexa has hitched itself to EtherLite, which is supposedly alleged to launch on July 1st
Within the meantime, like OAP, ETL is being bundled with BinPro positions. The fork itself will see 10 ETL per 1 ETH held to current ethereum pockets holders.
The tip-goal is the same old “be a part of the subsequent bitcoin, lambos moon rockets as a result of causes” advertising bullshit.
Little question preliminary traders and promoters will make some cash, after which etherlite will probably be forgotten about.
Though it hasn’t been introduced but, OpenAlexa might additionally launch a brand new scheme using ETL.
Whether or not that does or doesn’t occur, within the meantime you may have unknown scammers working a gifting scheme and 1000% ROI Ponzi scheme – each of that are unlawful.