SmartSteps fails to provide ownership or executive information on its website.

SmartSteps’ website domain (“smartstep.live”), was privately registered on January 9th, 2023.

SimilarWeb tracked ~11,500 monthly visits to SmartSteps’ website as of November 2023. Three sources of traffic were identified; Canada (93%), the US (4%) and the UAE (2%).

If we look at the source-code of SmartSteps’ “powered by GitBook” whitepaper, we can see it was set up in Chinese:

While I can’t say for sure, SmartSteps appears to be anonymous Chinese admins in Dubai targeting Canada and the US.

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.

SmartSteps’ Products

SmartSteps has no retailable products or services.

Affiliates are only able to market SmartSteps affiliate membership itself.

SmartSteps Compensation Plan

SmartSteps affiliates invest USD equivalents in Binance Coin (BNB).

This is done on the promise of advertised returns, paid in Bolt Token (BOLTYX):

  • Silver – invest $49 and receive a $49 ROI (max 60 days)
  • Gold – invest $99 and receive a $148.50 ROI (max 120 days)
  • Diamond – invest $222 and receive a $444 ROI (max 180 days)
  • Blue Diamond – invest $444 and receive a $1332 ROI (max 240 days)
  • Red Diamond – invest $999 and receive a $3996 ROI (max 360 days)
  • Black Diamond – invest $2222 and receive a $11,110 ROI (max 540 days)

Note that to qualify for returns SmartSteps affiliates must log a set number of steps per day.

This is tracked through an app and must be completed with the specified timeframes (see “max” values above).

Either upon reaching the passive return or failing to do so within the specified timeframe, reinvestment is then required to continue earning.

SmartSteps Affiliate Ranks

There are nine affiliate ranks within SmartSteps’ compensation plan.

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

  1. Silver – invest $49
  2. Gold – invest $99
  3. Diamond – invest $222
  4. Blue Diamond – invest $444
  5. Red Diamond – invest $999
  6. Black Diamond – invest $2222
  7. Double Black Diamond – not disclosed
  8. Platinum – not disclosed
  9. Double Platinum – not disclosed

Referral Commissions

SmartSteps pays a 10% referral commission on BNB invested by personally recruited affiliates.

Residual Commissions

SmartSteps 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.

Residual commissions are paid as 8% to 16% of BNB invested across the binary team.

  • Silver ranked affiliates earn an 8% residual commission rate, capped at $1470 a month
  • Gold ranked affiliates earn an 8% residual commission rate, capped at $2970 a month
  • Diamond ranked affiliates earn a 10% residual commission rate, capped at $6660 a month
  • Blue Diamond ranked affiliates earn a 10% residual commission rate, capped at $13,320 a month
  • Red Diamond ranked affiliates earn a 12% residual commission rate, capped at $29,970 a month
  • Black Diamond ranked affiliates earn a 12% residual commission rate, capped at $66,660 a month
  • Double Black Diamond ranked affiliates earn a 14% residual commission rate, capped at $150,000 a month
  • Platinum ranked affiliates earn a 20% residual commission rate, capped at $300,000 a month
  • Double Platinum ranked affiliates earn a 20% residual commission rate, capped at $600,000 a month

Matching Bonus

SmartSteps pays a Matching Bonus on residual commissions earned by personally recruited affiliates.

The Matching Bonus pays a 4% to 20% match, again based on rank:

  • Silver ranked affiliates earn a 4% match
  • Gold and Diamond ranked affiliates earn an 8% match
  • Blue Diamond and Red Diamond ranked affiliates earn a 12% match
  • Black Diamond and Double Black Diamond ranked affiliates earn a 16% match
  • Platinum and Double Platinum ranked affiliates earn a 20% match

SmartSteps Conclusion

SmartSteps combines an NFT task-based Ponzi model with pyramid recruitment.

SmartSteps’ Ponzi scheme is run through its BOLTYX token.

BOLTYX is a BSC-20 token. BSC-20 tokens can be set up in a few minutes at little to no cost.

SmartSteps affiliates invest into BOLTYX on the promise of a passive return. Said return is hidden behind a convoluted NFT scheme and daily task.

SmartSteps utilizes NFTs to manipulate how much an affiliate can earn each day via the set task. This is to ensure those who invest more are able to steal the majority of invested BNB.

As the company’s name implies, SmartSteps’ task is to take steps.

NFT “footwear” limits how many steps an affiliate is rewarded for each day.

Every NFT Footwear comes with a limited number of steps users can walk in a day.

These Footwear will record the number of steps and mint the BOLTYX token accordingly.

Once you have reached the maximum number of steps, you may continue to be active, but the application will not record anymore steps or mint any BOLTYX tokens.

Steps are recorded in an app. Health benefits aside, it’s a pointless task that has nothing to do with revenue generation.

As per SmartSteps’ own marketing copy, all they’re doing is recycling newly invested funds to pay off existing investors.

 The majority of the revenue generated by Smartsteps web3 lifestyle platform users is distributed to the users.

This takes place internally, for as long as SmartSteps allows investors to cash out BOLTYX tokens for actual money.

SmartSteps’ pyramid scheme exists by way of all commissions paid out being tied to recruitment.

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

This will starve SmartSteps of ROI revenue, eventually prompting a collapse.

Math guarantees that when a Ponzi scheme inevitably collapses, the majority of participants lose money.