IQ Chain Review: Ormeus Global Ponzi spinoff?
Ormeus Global launched last year as a trading bot 160% ROI Ponzi scheme.
As MLM cryptocurrency schemes are want to do, Ormeus Global also launched its own pump and dump altcoin.
Ormeus Coin began public trading around October, 2017.
After pumping at around five dollars in late November, Ormeus Coin dumped to just over a dollar.
ORME has been in steady decline since mid April and is currently sitting at around 88 cents.
Meanwhile back in March, it emerged Ormeus Global hadn’t been paying affiliates earned commissions.
Over the past month or so something called IQ Chain has emerged.
Following several requests to look into IQ Chain’s connection with Ormeus Global, today we’re taking a deeper look.
A visit to the IQ Chain website brings up nothing more than a login form.
There’s no information about what IQ Chain is or who’s behind it provided.
The IQ Chain website domain was first registered back in 2012. The registration details were last updated on April 2nd, which is likely when the current owner took possession of it.
A visit to the WayBack Machine confirms that prior to April 2018 the “iqchain.com” domain was parked.
So what is IQ Chain?
As far as I can tell it’s an attempt to rebrand Ormeus Global.
That said, the Ormeus Global website and branded social media profiles are still active (albeit abandoned since April) – so the company might be having an identity crisis.
An April 19th post on the Ormeus Global Facebook profile announces the launch of “Orme Cash”.
Orme Cash isn’t publicly tradeable and as far as I can tell exists solely as tokens within Ormeus Global itself (Ponzi points).
Ormeus Global affiliates who invested in Ormeus Coin obtain Orme Cash by parking their coins with the company.
This is likely an attempt to attach Ormeus Coin to an internal points system Ormeus Global can wholly control.
They lost that control with Ormeus Coin when it went public and crashed. So Orme Cash appears to be an attempt to regain control – with the aim of manipulating the public value of Ormeus Coin.
Ormeus Coin parked with Ormeus Global cannot be sold while they are “staked”.
With that out of the way, we can now continue with a more traditional review of IQ Chain.
IQ Chain Products
IQ Chain has no retailable products or services, with affiliates only able to market IQ Chain affiliate membership itself.
Note that the Ormeus Global website does reference an “Ormeus QI’ range of supplements, however these appear to only be available internally to affiliates.
The IQ Chain Compensation Plan
IQ Chain affiliates invest in Ormeus Coin and Orme Cash.
- Copper – invest $500 and receive $120 in Ormeus Coin and $60 in Orme Cash
- Bronze – invest $1000 and receive $240 in Ormeus Coin and $120 in Orme Cash
- Titanium – invest $3000 and receive $720 in Ormeus Coin and $360 in Orme Cash
- Silver – invest $5000 and receive $1200 in Ormeus Coin and $600 in Orme Cash
- Sterling Silver – invest $10,000 and receive $2400 in Ormeus Coin and $1200 in Orme Cash
- Gold – invest $30,000 and receive $7200 in Ormeus Coin and $1500 in Orme Cash
- Rose Gold – invest $50,000 and receive $12,000 in Ormeus Coin and $6000 in Orme Cash
- White Gold – invest $100,000 and receive $24,000 in Ormeus Coin and $12,000 in Orme Cash
- Gold Founder – invest $250,000 and receive $60,000 in Ormeus Coin and $30,000 in Orme Cash
There are two additional IQ Chain affiliate ranks; Platinum Founder and Presidential Founder.
These ranks cannot be purchased and have their own separate qualification criteria:
- Platinum Founder – qualify as a Gold Founder and recruit at least two Gold Founders or generate 1,000,000 GV a month
- Presidential Founder – qualify as a Platinum Founder and recruit at least two Platinum Founders or generate 2,500,000 GV a month
GV stands for “Group Volume” and are points generated via recruitment of new IQ Chain affiliates.
Note that Ormeus Coin and Orme Cash amounts Platinum and Presidential Founder affiliates receive are not disclosed.
Trading Bot ROIs
Ormeus Global’s “B2x89” trading bot 160% ROIs appear intact in IQ Chain, with the company providing trading bot credit with affiliate investment.
Ormeus Global are charging $1500 annually for a B2x89 trading bot license.
- Copper – $80 trading bot investment credit (fee waived for one year)
- Bronze – $160 trading bot investment credit (fee waived for one year)
- Titanium – $480 trading bot investment credit (fee waived for one year)
- Silver – $800 trading bot investment credit (fee waived for one year)
- Sterling Silver – $1600 trading bot investment credit (fee waived for two years)
- Gold – $4800 trading bot investment credit (fee waived for two years)
- Rose Gold – $8000 trading bot investment credit (fee waived for three years)
- White Gold – $16,000 trading bot investment credit (fee waived for three years)
- Gold Founder – $40,000 trading bot investment credit (fee waived for four years)
- Platinum and Presidential Founder – not disclosed
IQ Chain affiliates are paid to recruit new affiliate investors.
How much of a recruitment commission is paid out is determined by how much an IQ Chain affiliate has personally invested.
- Copper affiliates receive a 6% recruitment commission
- Bronze affiliates receive a 7% recruitment commission
- Titanium affiliates receive an 8% recruitment commission
- Silver affiliates receive a 9% recruitment commission
- Sterling Silver affiliates receive a 10% recruitment commission
- Gold affiliates receive an 11% recruitment commission
- Rose Gold affiliates receive a 12% recruitment commission
- White Gold affiliates receive a 13% recruitment commission
- Gold Founder affiliates receive a 15% recruitment commission
- Platinum Founder and Presidential Founders receive a 20% recruitment commission
Residual Recruitment Commissions
IQ Chain pay residual recruitment 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.
When a binary position is filled, points are generated on the binary side the position is in based on how much the newly recruited affiliate invested.
- Copper affiliates generate 1500 points
- Bronze affiliates generate 3000 points
- Titanium affiliates generate 9000 points
- Silver affiliates generate 15,000 points
- Sterling Silver affiliates generate 30,000 points
- Gold affiliates generate 90,000 points
- Rose Gold affiliates generate 150,000 points
- White Gold affiliates generate 300,000 points
- Gold Founder affiliates generate 750,000 points
- Platinum Founder affiliates generate 1,000,000 points
- Presidential Founder affiliates generate 2,500,000 points
Residual recruitment commissions are paid as a percentage of points generated on the weaker binary team side each week.
- Copper affiliates earn a 6% residual binary commission, capped at $1500 a week
- Bronze affiliates earn a 7% residual binary commission, capped at $3000 a week
- Titanium affiliates earn an 8% residual binary commission, capped at $6000 a week
- Silver affiliates earn a 9% residual binary commission, capped at $15,000 a week
- Sterling Silver affiliates earn a 10% residual binary commission, capped at $30,000 a week
- Gold affiliates earn an 11% residual binary commission, capped at $45,000 a week
- Rose Gold affiliates earn a 12% residual binary commission, capped at $60,000 a week
- White Gold affiliates earn a 13% residual binary commission, capped at $75,000 a week
- Gold Founder affiliates earn a 15% residual binary commission, capped at $105,000 a week
- Platinum Founder affiliates earn a 20% residual binary commission, capped at $120,000 a week
- Presidential Founder affiliates earn a 20% residual binary commission, capped at $175,000 a week
IQ Chain pay the Infinity Bonus 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 Infinity Bonus is paid as a percentage match of residual recruitment commissions earned by unilevel team affiliates.
- Copper affiliates do not receive the Infinity Bonus
- Bronze affiliates receive a 3% match on one level (personally recruited affiliates)
- Titanium affiliates receive a 3% match down two levels
- Silver affiliates receive a 3% match down three levels
- Sterling Silver affiliates receive a 3% match down four levels
- Gold affiliates receive a 3% match down five levels
- Rose Gold affiliates receive a 3% match down six levels
- White Gold affiliates receive a 3% match down seven levels
- Gold Founder affiliates receive a 1% match until another Gold Founder or higher affiliate is found
- Platinum Founder affiliates receive a 1% match until another Gold Founder or higher affiliate is found
- Presidential Founder affiliates receive a 3% match until another Gold Founder or higher affiliate is found
Note that for Gold Founder or higher, “until another Gold Founder or higher affiliate is found” applies to each unilevel team leg individually.
Coin Distribution Contract
The IQ Chain compensation plan mentions a “Coin Distribution Contract”.
No information about the contract is provided, however dollar amounts are provided for each affiliate investment tier:
- Copper – $500
- Bronze – $1000
- Titanium – $3000
- Silver – $5000
- Sterling Silver – $10,000
- Gold – $30,000
- Rose Gold – $50,000
- White Gold – $100,000
- Gold Founder – $250,000
- Platinum and Presidential Founder – not disclosed
If I didn’t know any better I’d say these are ROI amounts, likely generated by some sort of token smart contract (redistribution of newly invested funds).
Note also that this might have something to do with “ORV points”, another layer of internal manipulation:
As above, IQ Chain affiliates are falsely led to believe ORV points are worth hundreds of dollars.
Joining IQ Chain
IQ Chain affiliate membership is tied to a $500 to $833,000 (estimated) investment.
The more an affiliate invests the higher their income potential via the IQ Chain compensation plan.
After going through IQ Chain’s marketing material and compensation plan, it’s pretty clear this is an Ormeus Global reboot.
Ormeus Global and Ormeus Coin pumped and dumped as expected.
In order to keep new investment coming in, John Barksdale and the gang are launching new pump and dump altcoins.
And so we have Orme Cash and token contracts.
There’s also something called GreenX, which I haven’t really covered because at this point it doesn’t appear to be anything more than a bunch of eco-friendly promises.
Like Ormeus Coin, Orme Cash is worthless outside of Ormeus Global and IQ Chain.
If IQ Chain ever decide to migrate Orme Cash over to a public blockchain script, it too will dump in price (after IQ Chain admins and early investors dump immediately at launch).
Otherwise IQ Chain is just more of the same.
Ormeus Global and IQ Chain are sitting on a bunch of pre-generated Ormeus Coins and Orme Cash points, which they offload onto new investors on the promise of riches.
Real money flows into John Barksdale’s pockets and whoever he’s working with in Hong Kong.
Everybody else loses out and is left holding a bunch of worthless tokens and points.