Atronocom Review: Simple agreement on future tokens? Lawl.
Atronocom operates in the MLM cryptocurrency niche. The company is headed up by CEO Thomas Koller.
Specific details of Koller’s MLM history, if any, are not provided.
In an Atronocom press-release however, Koller refers to himself as a “trader”.
Somewhat suspiciously, Koller (right) doesn’t appear to have a digital footprint outside of Atronocom.
As per the Atronocom website, the company claims to be based out of Dubai.
ATRONOCOM, as a limited liability company (Ltd.), is in Dubai “DMCC” Free Zone in formation and will be registered as Distributed Ledger respectively Blockchain, Software Development and technology provider Company until the end of January 2019.
The required permits will also be issued and published in the Central Register of the United Arab Emirates.
In cooperation with Abu Dhabi Global Market, the implementation and use of the components relevant for financial engineering will be discussed and put online in a structured manner.
Both Dubai and Abu Dhabi are known for having lax regulatory enforcement enforcement. There is no legitimate reason for an MLM company to be based there.
Whether Koller himself is based out of Dubai or elsewhere is unclear.
The use of euros by the company strongly suggests Atronocom is in actuality being operated out of Europe.
Update 20th March 2019 – As per Atronocom’s Twitter profile, the company is purportedly based out of Zug, Switzerland.
This all but confirms related Atronocom incorporations in the UAE are shell companies. /end update
Read on for a full review of the Atronocom MLM opportunity.
Atronocom has no retailable products or services, with affiliates only able to market Atronocom affiliate membership itself.
The Atronocom Compensation Plan
Atronocom affiliates invest in Atronocom Coins.
- the first 25 million Atronocom Coins will be sold for 0.15 EUR each
- the next 50 million Atronocom Coins will be sold for 0.30 EUR each
- the next 50 million Atronocom Coins will be sold for 0.40 EUR each
- the next 50 million Atronocom Coins will be sold for 0.50 EUR each
- the next 50 million Atronocom Coins will be sold for 0.65 EUR each
Commissions are paid when they recruit others who do the same.
Atronocom pays referral commissions on Atronocom Coin investment via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Atronocom caps referral commissions at five unilevel team levels as follows:
- level 1 (personally recruited affiliates) – 10%
- level 2 – 3%
- level 3 – 5%
- level 4 – 2%
- level 5 – 1%
Atronocom affiliate membership appears to be free.
Update 20th March 2019 – Research from BehindMLM reader Melanie From Germany has uncovered an investment of 50 EUR is required to earn MLM commissions. /end update
Investing in non-existent Atronocom coins/tokens starts at 0.15 euros through to 65 euros.
It’s pretty well established that an MLM company soliciting investment in an altcoin is a securities offering.
Affiliates invest in the coin on the expectation of a passive return, satisfying the investment contract definition of the Howey Test.
Atronocom are of course aware of this and, in addition to incorporating in a jurisdiction with little to no securities regulation, states in its whitepaper;
ATRONOCOM will not issue or offer for sale any tokens or coins that may be classified as securities.
They’ve even gone so far as to invent a pseudo-compliance phrase to cover their asses;
A SAFT is a Simple Agreement for Future Tokens.
ATRONOCOM is not conducting an ICO Initial Coin Offering and we will not have a token until platform launch.
SAFT hey… that’s cute.
What Atronocom’s SAFT actually is, is the company soliciting investment on an altcoin they haven’t even created yet.
It’s similar to the “pre IPO” nonsense scams trying to sell non-existent shares came up with.
SAFT is of course just as nonsensical. Whatever you want to call your solicitation of investment, it’s still money being collected on the offering of tokens/coins.
Whether those coins/tokens exist or not yet is immaterial but
- does increase investor risk should they never materialize; and
- might be used against Atronocom if they were to face regulatory action outside of Dubai.
Atronocom marketing material suggests the company will initially be targeting Brazil;
ATRONOCOM … will be launching the beta version of its platform on March 11, 2019, to the first 500 people to sign up.
On the same date, residents of Brazil will be allowed to open full accounts and begin trading via the app.
There don’t appear to be any overt links to Brazil among Atronocom’s management, so I’m not sure why they’ve specifically chosen the country.
At the end of the day Atronocom is no more registered to offer securities in Brazil than they are in Dubai.
Atronocom Coin itself doesn’t yet exist (in any practical sense), and even if it were to be put together doesn’t bring anything new to the table.
Something something mobile app. Something something WhatsApp messaging clone. Whoopee.
What Atronocom Coin does provide Koller and the gang is an exit-scam.
The MLM cryptocurrency exit-scam model sees affiliates invest in a company launched altcoin.
Returns are typically initially realized via an internal exchange. If the scheme gets big enough the admins find some dodgy external exchange to list the coin.
In addition to invested funds solicited through the MLM company, the admins then sell off what they can during the inevitable initial public listing pump.
As per the Atronocom whitepaper, Koller and his fellow admins will hold 15% of Atronocom Coins (66 million coins).
After cashing out, the admins come up with excuses and/or simply do a runner.
Bagholder affiliates are left reassuring each other a “lambo moon” is just around the corner, as the value of the shitcoin inevitable dumps toward $0.
This has played out time and time again in MLM cryptocurrency schemes. There’s no reason Atronocom will be any different.