Gym Network provides no executive or ownership information on its website.

Instead Alberto Mera, Lewis Mhlanga and Timur Ozturk are presented as low-tier staff to represent the company:

Further research reveals affiliates citing Claudio Catrini as Gym Network’s CEO:

Why Catrini isn’t on Gym Network’s website is unclear.

Catrini claims to be a “crypto lover”. This is a relatively new development that took place over the past year.

More recently still, Catrini has gotten into the “passive income” crypto niche:

As far as the MLM crypto space goes, passive income is typically code for investment fraud.

Prior to reinventing himself as a crypto bro, Catrini was involved in digital marketing. This has primarily been through Trendda and “Claudio Catrini Akademie GmbH.

Catrini co-founded Trendda in 2019.  Claudio Catrini Akademie has been around since 2003.

On the MLM side of things Catrini co-founded Athletic Factory in mid 2021:

Athletic Factory was a German fitness themed MLM (fitness appears to be a running theme for Catrini).

Athletic Factory’s website is still up but traffic to it is dead. Athletic Factory’s official FaceBook page was abandoned in November 2021, suggesting the company has been abandoned.

Gym Network’s website domain (“gymnetwork.io”), was privately registered on December 13th, 2021.

Also Supporting Athletic Factory collapsing is Catrini relocating from Germany to Bulgaria around the same time:

Bulgaria has a horrendous track record when it comes to MLM regulation.

Read on for a full review of Gym Network’s MLM opportunity.

Gym Network’s Products

Gym Network has no retailable products or services.

Affiliates are only able to market Gym Network affiliate membership itself.

Gym Network’s Compensation Plan

Gym Network affiliates invest 0.05 BNB or more. This is done on the promise of a passive annual return:

Things are a little complicated but Gym Network’s “estimates” are

  1. 6.5% annually on invested BNB; and
  2. 200% annually on invested GYMNET.

If an affiliate compounds their returns, Gym Network pitches a 9.4% monthly ROI.

In another marketing slide, Gym Network pitches a 250% annual ROI:

The MLM side of Gym Network pays on recruitment of affiliate investors.

Gym Network Affiliate Ranks

There are fifteen affiliate ranks within Gym Network’s compensation plan.

Along with their respective qualification criteria, they are as follows:

  • Member invest 0.05 BNB and have a 500 GYMNET token investment balance
  • Rookie I – invest 0.1 BNB and maintain a 500 GYMNET token investment balance
  • Rookie II – invest 0.25 BNB and maintain a 500 GYMNET token investment balance
  • Rookie III – invest 0.5 BNB and maintain a 500 GYMNET token investment balance
  • Amateur I – invest 1 BNB, have a 5000 GYMNET token investment balance and personally recruit two Rookie Is or higher
  • Amateur II – invest 3 BNB, have a 15,000 GYMNET token investment balance and personally recruit three Rookie Is or higher
  • Amateur III – invest 5 BNB, have a 50,000 GYMNET token investment balance and personally recruit four Rookie Is or higher
  • Junior Pro – invest 10 BNB, have a 100,000 GYMNET token investment balance and personally recruit five Rookie Is or higher
  • Pro – invest 15 BNB, have a 150,000 GYMNET token investment balance and personally recruit six Amateur Is or higher
  • Senior Pro – invest 25 BNB, have a 250,000 GYMNET token investment balance and personally recruit seven Amateur Is or higher
  • Champion – invest 30 BNB, have a 300,000 GYMNET token investment balance and personally recruit eight Amateur Is or higher
  • Co-Trainer – invest 35 BNB, have a 350,000 GYMNET token investment balance and personally recruit nine Amateur Is or higher
  • Trainer – invest 40 BNB, have a 400,000 GYMNET token investment balance and personally recruit ten Amateur Is or higher
  • Vice President – invest 70 BNB, have a 500,000 GYMNET token investment balance and maintain five personally recruited Amateur Is or higher
  • President – invest 100 BNB, maintain a 500,000 GYMNET token investment balance and maintain five personally recruited Amateur Is or higher
  • Legend – invest 200 BNB, maintain a 500,000 GYMNET token investment balance and maintain five personally recruited Amateur Is or higher

Referral Commissions

Gym Network pays referral commissions on invested funds 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.

Gym Network caps payable unilevel team levels at sixteen.

Referral commissions are paid as a percentage of invested cryptocurrency based on rank:

  • Members earn 10% on level 1 (personally recruited affiliates)
  • Rookie Is earn 10% on level 1 and 7% on level 2
  • Rookie IIs earn 10% on level 1, 7% on level 2 and 5% on level 3
  • Rookie IIIs earn 10% on level 1, 7% on level 2, 5% on level 3 and 4% on level 4
  • Amateur Is earn 10% on level 1, 7% on level 2, 5% on level 3 and 4% on levels 4 and 5
  • Amateur IIs earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5 and 3% on level 6
  • Amateur IIIs earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6 and 1% on level 7
  • Junior Pros earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6 and 1% on levels 7 and 8
  • Pros earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6 and 1% on levels 7 to 9
  • Senior Pros earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6, 1% on levels 7 to 9 and 0.5% on level 10
  • Champions earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6, 1% on levels 7 to 9 and 0.5% on levels 10 and 11
  • Co-Trainers earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6, 1% on levels 7 to 9 and 0.5% on levels 10 to 12
  • Trainers earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6, 1% on levels 7 to 9 and 0.5% on levels 10 to 13
  • Vice Presidents earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6, 1% on levels 7 to 9 and 0.5% on levels 10 to 114
  • Presidents earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6, 1% on levels 7 to 9, 0.5% on levels 10 to 14 and 0.25% on level 15
  • Legends earn 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6, 1% on levels 7 to 9, 0.5% on levels 10 to 14 and 0.25% on level 15 and 16

Gym Network’s compensation documentation suggests referral commissions are paid both on investments and daily calculated returns.

Only one set of referral commission percentages is provided. So if this is the case, it’s assumed the same referral commission rate is used for initial investments and daily returns.

Bonus Pools

Vice President and higher ranked Gym Network affiliates receive a share in three rank-based bonus pools.

  • Vice Presidents receive a share in a 0.5% Gold Pool
  • Presidents receive a share in a 1% Black Pool, as well a share in the Gold Pool
  • Legends receive a share in a 1.5% Platinum Pool, as well a share in the Gold and Black Pools

The bonus pools are made up of a percentage of “worldwide daily profits”.

Whether this means company-wide invested cryptocurrency or returns paid out is unclear.

Turnover Pools

Gym Network’s compensation documentation details three “turnover based pools”:

  • Regional Pool – 1%
  • National Pool – 1%
  • International Pool – 1%

The pools are funded as a percentage of “worldwide daily profits” again. Both this and qualification for the pools are undefined.

Joining Gym Network

Gym Network affiliate membership appears to be free.

Full participation in the attached income opportunity requires an initial investment in BNB.

Additional investment in GYMNET is required to advance in affiliate rank.

Conclusion

Either by design or out of necessity, Gym Network ventures a little to far into the DeFi nerdspace.

This begins with Gym Network marketing itself as a “DeFi Aggregator Investment System”.

Gym Network’s official compensation material is lacking, and I suspect most of the crypto bros who invest are hanging out for the daily number in their backoffice – without actually understanding the jargon behind it.

At its core Gym Network’s business model sees invested cryptocurrency placed in a “vault”.

This is a fancy way of saying “balance that earlier investors and the admins cash out”.

As an investor you watch number go up in your backoffice, and when the time comes hope there’s still funds left to steal when you cash out.

The marketing convolutes that simple model behind crypto jargon but that’s all Gym Network is.

You have BNB going in the front-end, with the end-game being to pay everyone out GYMNET tokens.

GYMNET is a BEP-20 token. These can be set up in minutes at little to no cost.

Like any Ponzi token, outside of Gym Network GYMNET is completely worthless.

Rather than just be honest about that, Gym Network feeds investors this baloney:

Here’s how that’s going:

On the BNB side of things, Gym Network represents returns are generated through Alpaca Finance.

Alpaca Finance is the largest lending protocol allowing leveraged yield farming on BNB Chain and Fantom.

Earn Interest from Alpaca Finance + Receive Token Rewards

Alpaca Finance is among the top rated DeFi protocols on Binance Smart Chain.

Alpaca Finance is, not surprisingly, another crypto bro Ponzi scheme. The company’s website advertised annual returns of up to 370%.

As far as I can tell, Alpaca Finance has no direct ties to Gym Network.

Like Gym Network, Alpaca Finance has its own shitcoin. Launched just last month, here’s how ALPACA is going:

About what you’d expect.

The long and the short of it is, no matter how its dressed up, Gym Network can only pay out what’s invested in BNB.

GYMNET is already a race to the bottom, so good luck cashing that out.

As with all MLM Ponzi schemes, once affiliate recruitment dries up, so too will new investment.

This will starve Gym Network of invested BNB, leaving it unable to pay withdrawals.

This leaves GYMNET tokens, which as detailed above are ultimately worthless.

The math behind Ponzi schemes guarantees the majority of participants lose money.

Seeing as so much of crypto is numbers on a screen, a reminder that “but my backoffice shows 42069% ROI” doesn’t mean anything unless you’re actually able to cash out 42069%.

Spoiler alert: if you didn’t invest early with the admin grifters, you’re not going to be able to.