Doubleway Review: Ethereum gifting contract scheme
Doubleway provides no information on its website about who owns or runs the business.
Doubleway’s website domain (“doubleway.io”) was privately registered on September 4th, 2019.
There’s a good chance whoever is running Doubleway is based out of South America.
At the time of publication, Alexa cites Colombia (50%), Brazil (12%) and Venezuela (8%) as top sources of traffic to Doubleway’s website.
As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.
Doubleway has no retailable products or services, with affiliates only able to market Doubleway affiliate membership itself.
Doubleway’s Compensation Plan
Newly recruited Doubleway affiliates gift ethereum to existing affiliates via a 2×8 matrix.
A 2×8 matrix places an affiliate at the top of a matrix, with two positions directly under them:
These two positions form the first level of the matrix. The second level of the matrix is generated by splitting these first two positions into another two positions each (4 positions).
Levels three to eight of the matrix are generated in the same manner, with each new level housing twice as many positions as the previous level.
A newly recruited Doubleway affiliate signs up and gifts 0.8 ETH to the affiliate who recruited them.
Once they’ve recruited one affiliate of their own, the affiliate receives a position at the top of a 2×8 matrix.
Positions in the matrix continue to be filled via direct indirect recruitment.
Each matrix level requires an additional gifting payment to unlock.
These payments increase each matrix level as follows:
- level 1 – gift 0.8 ETH and receive 0.8 ETH from two affiliates (0.16 ETH)
- level 2 – gift 0.16 ETH and receive 0.16 ETH from four affiliates (0.64 ETH)
- level 3 – gift 0.32 ETH and receive 0.32 ETH from eight affiliates (2.56 ETH)
- level 4 – gift 0.64 ETH and receive 0.64 ETH from sixteen affiliates (10.24 ETH)
- level 5 – gift 1.28 ETH and receive 1.28 ETH from thirty-two affiliates (40.96 ETH)
- level 6 – gift 2.56 ETH and receive 2.56 ETH from sixty-four affiliates (163.84 ETH)
- level 7 – gift 5.12 ETH and receive 5.12 ETH from one hundred and twenty-eight affiliates
- level 8 – gift 10.24 ETH and receive 10.24 ETH from two hundred and fifty-six affiliates (2621.44 ETH)
Note that these figures are monthly recurring, provided affiliates placed into matrices continue to make gifting payments.
Doubleway affiliate membership is tied to an initial 0.8 ETH gifting payment.
Full participation in Doubleway’s income opportunity costs 21.12 ETH a month.
Doubleway is a simple matrix-based gifting scheme. In place of a matrix script, the company uses an ethereum smart contract.
The math on the back end however is the same.
You sign up, gift ethereum to whoever recruited you. You then get paid as people are either directly or indirectly recruited under you.
Note the following disingenuous marketing provided on Doubleway’s website:
Nobody can close your account, to stop payments or make changes to the system, since the smart contract is loaded into the Ethereum network. It can’t be deleted or changed.
Referrals can be invited without a website and referral links but directly into a smart contract.
Therefore, the DOUBLEWAY System will exist as long as the cryptocurrency exist, and the cryptocurrency will exist as long as the Internet exist.
What they don’t tell you is, like any gifting scheme, constant recruitment is required to keep the scam going.
And even then, you’re still likely to lose money.
The math behind gifting schemes sees most of the money gifted in transferred to whoever is running it.
This occurs through one or more preloaded admin positions.
If you look at payments requires on each level, you’ll notice they increase exponentially.
Thus even though you might receive payments if you get in early enough, more than likely you’ll be in turn passing it up.
These funds are passed up company wide, to the admin position(s) created first.
A few early adopters will make a small cut of what’s left. In order for that to happen though, the majority of Doubleway affiliates have to lose out.
Being a gifting scheme this happens when recruitment inevitably slows down, prompting a collapse.