The company officially claims that it has no admins. Meaning there is no team behind the company. The website appeared recently in April 2020.
The domain of the website was privately registered on the 9th of February 2020.
We spotted some content in the Russian language that suggests that someone with Russian ethnicity is behind the project.
Edit: That Russian part has now been deleted.
The company uses blockchain-related eye candy sentences such as:
Revolutionary smart contract on the Ethereum blockchain
facilitates peer-to-peer commission payments between its program participants.
These are vague statements as the admins try to convince users by showing the ‘awesomeness’ of the blockchain technology. This allows them to dodge any conflict with the user. The admins use these hi-tech blockchain-related terms so that they can lure you to invest in their project.
The company has no products or services to offer, with affiliates only able to sell Forsage’s affiliate membership programs.
How does it work?
Forsage’s business model isn’t any different from other MLM Ponzi schemes. You pay a fee to join and you convince people to join using your link. Your success totally depends on how many people you pump into the system.
The only way to recover your money is to get people to join under you. This funnels up to a pyramid scheme.
The affiliate membership fee is 0.5 ETH ($105) and then you get 0.025 ETH from every person who joins under you and signs up paying 0.5ETH. In simple terms, you are getting 5% from each direct referral.
And then the remaining 0.475 ETH gets sent to higher tiers of the pyramid, with most funds directed to the anonymous positions at the top of the scheme (the original scheme’s creators)
The company has built a smart contract to replicate the distribution system of a typical MLM.
The funniest part of this project is that they officially accept the illegal nature of their MLM opportunity.
Profit comes from other participants directly into your personal wallet.
It doesn’t matter who is running these auto-gifting scheme, they are illegal to run. Only the top recruiters and early entrants make money. Multilevel marketing companies (MLMs) are legal in certain jurisdictions, but pyramid schemes are illegal in most parts of the world.