E-volve Review: DD Corporation Ponzi reboot?
E-volve provides no information on its website about who owns or runs the company.
E-volve’s website domain (“e-volve.io”) was privately registered on November 27th, 2019.
Marketing of E-volve online appears to be mostly from former DD Corporation affiliates.
DD Corporation began as Dreams Digger, a cryptocurrency Ponzi scheme launched mid last year.
By November 2019 DD Corp had stopped paying out.
The company acknowledged its collapse in January. Rather than acknowledge they simply ran out of new investor funds however, owner Leonardo Araujo blamed programmers.
Promotion of E-volve began around the time of DD Corp’s collapse.
E-volve marketing presents Simoni Volpi as the company’s founder and CEO.
Possibly due to language barriers, I was unable to put together an MLM history on Volpi. Whether he was involved in DD Corp is unclear.
I did find one 2016 article tying Volpi, as “Simoni Volpe”, to mining operations in Africa.
The article claims, at least as of 2016, that Volpe is a naturalized citizen of Nigeria.
Outside of that, Volpi doesn’t appear to have a digital footprint outside of E-volve marketing. This is highly suspicious.
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.
E-volve doesn’t have any retailable products or services, with affiliates only able to market E-volve affiliate membership itself.
E-volve’s Compensation Plan
E-volve affiliates invest €50 EUR or more on the promise of weekly returns.
E-volve Affiliate Ranks
There are five affiliate ranks within E-volve’s compensation plan.
Along with their respective qualification criteria, they are as follows:
- Associate – generate 1000 points in accumulated weaker binary team side volume
- Executive 5K – generate 5000 points in accumulated weaker binary team side volume
- Executive 30K – generate 30,000 points in accumulated weaker binary team side volume
- Executive 100K – generate 100,000 points in accumulated weaker binary team side volume
- Millionaire – generate 100,000,000 points in accumulated weaker binary team side volume
Point values are based on investment by directly and indirectly recruited E-volve affiliate investors.
E-volve affiliates receive 5% of funds invested by personally recruited affiliates.
E-volve pays residual commissions via a binary compensation structure.
A binary compensation structure places an affiliate at the top of a binary team, split into two sides (left and right):
The first level of the binary team houses two positions. The second level of the binary team is generated by splitting these first two positions into another two positions each (4 positions).
Subsequent levels of the binary team are generated as required, with each new level housing twice as many positions as the previous level.
Positions in the binary team are filled via direct and indirect recruitment of affiliates. Note there is no limit to how deep a binary team can grow.
At the end of each day E-volve tallies up new investment volume on both sides of the binary team.
Affiliates are paid a 100% commission on volume generated on their weaker binary team side.
Once paid out on, volume is matched on both sides and flushed. Any leftover volume on the stronger binary team side is carried over.
To qualify for residual commissions, an E-volve affiliate must personally recruit two investing affiliates.
Note that E-volve cap residual commissions based on rank:
- Associates can earn up to €500 EUR
- Executive 5Ks can earn up to €1000 EUR
- Executive 30Ks can earn up to €3000 EUR
- Executive 100Ks cap is not provided
- Millionaires can up to €5000 EUR
Whether the above caps are daily or weekly is not clarified.
E-volve affiliates earn a Matching Bonus on downline residual commission earnings.
The Matching Bonus is paid out 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.
The Matching Bonus is paid out down five unilevel team levels:
- level 1 (personally recruited affiliates) – 7%
- level 2 – 5%
- level 3 – 4%
- level 4 – 3%
- level 5 – 1%
E-volve rewards affiliates for rank qualification as follows:
- qualify as an Executive 5K and receive €1000 EUR
- qualify as an Executive 30K and receive a trip to Punta Cana in the Dominican Republic
- qualify as an Executive 100K and receive a Rolex watch worth up to €14,000 EUR
- qualify as a Millionaire and receive a “super car” worth up to €180,000 EUR
E-volve affiliate membership is tied to a minimum €50 EUR investment.
E-volve represents it generates external revenue via cryptocurrency arbitrage and trading.
This was the same ruse used by DD Corp and, like DD Corp, no evidence of external revenue being used to returns is provided.
Nor is E-volve registered to offer securities in any jurisdiction is solicits investment in.
It’s obviously not a coincidence top investors in DD Corp simultaneously jumped ship to E-volve around the former’s collapse.
Due to the slimey nature of the MLM underbelly we might not ever know the specifics, but E-volve being a blatant Ponzi scheme should be enough of a red flag.
Like DD Corp, E-volve will pay out until affiliate recruitment runs dry.
No new recruits means no new money, prompting a collapse.
At that point it doesn’t matter who recruited you into E-volve, or whether Simoni Volpe, Leonardo Araujo or Mickey Mouse is running the company.
You’re money is gone and you won’t be getting it back.
Update 8th September 2022 – Making a note that E-volve has collapsed and also the “mining operations in Africa” Simoni Volpe article has been pulled.
I had provided a link to the article in the review but due to its removal the link is now disabled.