According to its website, the company is based in Tbilisi, Georgia. However, It’s CEO’s LinkedIn states that the company is registered in Spain. And ironically, the CEO resides in Portugal.
The domain is set to expire in September 2020.
On our research journey, we saw many questionable elements about the CEO on the internet. We would like to point some of them here.
Mr Georgy Katsanov claims of having 7 years of experience and calls himself ‘Private Entrepreneur’ in his LI profile. He was also found promoting an MLM scam, TelexFree.
The Georgy Katsanov profile has been deleted.
After reviewing the profiles of the team, we conclude that most of them are not real.
Not only the team, but they are also claiming big partnership — with BTC.COM which is obviously fake because there exists no evidence on the internet.
FluxOn Club’s Products
The company has no products or services to market. Their business model is simple — affiliates pump users into the system to get rewards, the users pump more users into the system as affiliates to get rewards — this runs in a loop.
Buying FON tokens, you will get your lifelong revenue from the company’s activity.
The affiliates buy FON tokens to enjoy the promised returns.
We could not find any specifics on the website.
Affiliate Ranks | Referral Commissions | Residual Commissions
The FluxOn Club’s Compensation plan has a total of 10 affiliate ranks:
FluxOn Club affiliates receive 5% commission on every new personal recruit.
Residual compensation gets distributed through a binary compensation structure.
Affiliates are paid a percentage of funds generated on their weaker binary team side, based on rank:
- Partner to Consultant ranks receive 5%
- Supervisor and Junior Manager ranks receive 8%
- Manager to General Director ranks receive 10%
A uni-level compensation structure is in place to pay Matching Bonus to affiliates.
The payout of Matching Bonus depends upon the residual commissions earned across these five levels as follows:
- Supervisors get a 5% match on level 1 (personally recruited affiliates)
- Junior Managers get a 5% match on levels 1 and 2
- Managers get a 5% match on levels 1 to 3
- Top Managers get a 5% match on levels 1 to 4
- Administrators get a 5% match on levels 1 to 5
The company doesn’t provide full information related to affiliate membership costs on its website.
However, if you want to be a part of the attached opportunity, then a minimum investment of $100 is required.
The number goes up to $50,000 if one wants to enjoy Full Commission and other bonus qualifications.
Now lets come to the point, FluxOn Club has almost the same business model as a traditional MLM does.
The only difference is that they have their own ERC-20 token. With this token, they are convincing people to invest in their project by acting like a decent crypto project. Obviously, they will pay back the returns, but in their ERC-20 shitcoin.
Now, as we have attached above their ‘revolutionary’ MLM opportunity, you can pretty much conclude by the numbers that it is a classic pyramid scheme. The company isn’t selling anything. You get a cut when you recruit, its that simple!