OpenAlexa Review: Ethereum smart contract gifting scheme
OpenAlexa provides no information on its website about who owns or runs the company.
Worse still, OpenAlexa blatantly lies about having no ownership:
Who is the Project Administrator?
In a project like OpenAlexa there is no administrator.
OpenAlexa’s website domain (“openalexa.io”) was privately registered on March 30th, 2020.
At the time of publication Alexa (no affiliation) cites India as the largest source of traffic to OpenAlexa’s website (92%).
This is a strong indication that whoever is running OpenAlexa is based out of India itself.
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.
OpenAlexa has no retailable products or services, with affiliates only able to market OpenAlexa affiliate membership itself.
OpenAlexa’s Compensation Plan
OpenAlexa affiliates participate in an ethereum gifting scheme.
A newly recruited OpenAlexa affiliate gifts 0.03 ETH to an existing affiliate. This payments qualifies the affiliate to in turn receive gifting payments from other OpenAlexa affiliates.
OpenAlexa tracks payments across two 2×6 matrices.
A 2×6 matrix places an OpenAlexa 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 each of these two positions into another two positions each.
Levels three to six of the matrix are generated in the same manner, with each new level housing twice as many positions as the previous level.
Payments across OpenAlexa’s 2×6 matrix gifting scheme are as follows:
- level 1 – gift 0.03 ETH and receive 0.03 ETH from two affiliates
- level 2 – gift 0.05 ETH and receive 0.05 ETH from four affiliates
- level 3 – gift 0.1 ETH and receive 0.1 ETH from eight affiliates
- level 4 – gift 0.5 ETH and receive 0.5 ETH from sixteen affiliates
- level 5 – gift 1 ETH and receive 1 ETH from thirty-two affiliates
- level 6 – gift 3 ETH and receive 3 ETH from sixty-four affiliates
- level 1 – gift 7 ETH and receive 7 ETH from two affiliates
- level 2 – gift 12 ETH and receive 12 ETH from four affiliates
- level 3 – gift 15 ETH and receive 15 ETH from eight affiliates
- level 4 – gift 25 ETH and receive 25 ETH from sixteen affiliates
- level 5 – gift 30 ETH and receive 30 ETH from thirty-two affiliates
- level 6 – gift 39 ETH and receive 39 ETH from sixty-four affiliates
OpenAlexa marketing suggests payments are made on a sixty-day recurring subscription.
OpenAlexa affiliate membership is tied to an initial 0.03 ETH gifting payment.
Full participation in OpenAlexa’s gifting scheme will ultimately cost 132.68 ETH.
OpenAlexa is a simple gifting scheme tracked on the ethereum blockchain.
With a ready-made team, you can repeat earnings every 60 days, by simply pressing the “repeat” button, earn upto 4000+ ETH every two months.
With the promise of riches, OpenAlexa makes fraudulent guarantees regarding income:
Impossible to Lose Money
Absolutely No Risk
The whole system is built on Ethereum Smart Contract. So it’s Decentralized & 100% RISK FREE!
This is of course all baloney.
Matrix-based gifting schemes primarily benefit the scammers running them.
This is by way of preloaded admin positions, which are first to cycle into the upper tiers of the matrix.
The upper tiers of the matrix are where the majority of funds are transferred between OpenAlexa affiliates.
A few top recruiters will receive what’s left. That leaves the majority of OpenAlexa affiliates taking a loss when the scheme inevitably collapses.
As part of its marketing, OpenAlexa touts math being behind its smart contract:
Matrix based gifting schemes are indeed based on math.
This same math that ironically guarantees the majority of participants in a gifting scheme will lose money.