Amidst global pandemic and crises like COVID19, it's becoming challenging for people to make money.
That's the reason numerous online business models are rising as saviors.
But are they all credible?
No, some may be legit and trustworthy, but others will leave you in disparity and pain of losing your hard-earned money.
Dondi, a modern and advanced cryptocurrency network, has been launched on the same ground in April 2020.
But is it legit or a scam? Let's find out in this comprehensive review on Dondi.
What is Dondi?
As per its official website, Dondi is a crowdfunded international platform for the new age. It's the first-ever smart contract with the ‘Matrix' type marketing of Ethereum cryptocurrency.
Frankly, it's difficult to understand what Dondi does from the above statement; let me simplify it for you.
Dondi is a cryptocurrency (Ethereum) based multilevel marketing company. It claims to have a disrupted cryptocurrency space with some advanced smart contracts.
In simpler terms, it's a decentralized affiliate marketing program for the modern world of blockchain users.
Story of Dondi
The first thing you'll note on Dondi's official website is that they are a multilevel marketing (MLM) scheme that claims to have created the world's first 100% decentralized smart contract.
The company has declared that its team launched this revolutionary smart contract on 6th February 2020. Post this launch, they thought of sharing the aforementioned disruptive technology with the world.
As per their website, they explain that the Dondi developers successfully deployed a self-executing smart contract in the Ethereum Blockchain that exists in perpetuity. Furthermore, since it's decentralized, it cannot be modified by any entity.
Here's how you can summarise Dondi (as per their website):
- Secure: protected by Ethereum Smart Contract, it is declared scam free
- Inexpensive: With a minimal entry fee of 0.055 ETH, it's one of the most reasonable modern decentralized MLM programs to join.
- Private: Blockchain-based platform helps in creating an account without presenting any personal details.
- Reassuring: All the transactions are done and completed through the crypto wallet only.
- Lucrative: It's enticing to have a 24 income stream of Dondi with its matrix and cycler program
- Ethical: Since the system can't be modified or altered, everyone in the program gets a fair chance to succeed. Nobody can abuse the system in any manner.
What's the process to join Dondi?
To join the Dondi online earning business, you must necessarily pay 0.055 ETH, which is hardly USD 10. The users who join the program are to refer the application to others to make money.
Any user can only make money through Dondi by referring it to others and signing up for the smart contract.
Moreover, the Dondi smart contract is said to work with two different wallets. You can choose any of these two wallets depending on the device you'll be accessing Dondi from; desktop computer or a mobile/smartphone.
While transacting with the program from a desktop computer, the smart contract would require the Metatask Wallet. On the other hand, if you're to transact through mobile devices, the smart contract would need you to log in through the Trust Wallet account.
What is Dondi's Smart Contract, and how does it work?
You must have read about Dondi's smart contract and how revolutionary it is. But what is it, and how does it work?
Dondi has built its commission payout system (smart contract) on the Ethereum blockchain.
Its smart contract is responsible for replicating the distribution system of a multilevel marketing (MLM) company.
Here's an example to understand how this smart contract works.
Suppose you joined the platform by paying a fee of 0.055 ETH. Now, since it's a referral MLM program, you'll ask your peers or friends to join the program as well (to maintain the flow of the pyramid). One of your friends gets convinced and pays his fee of 0.055 ETH to join the platform. The Dondi Smart Contract will provide you with the 0.022 ETH, and the rest will be sent up the pyramid.
With this process, you fix your slot on the pyramid. As you recruit other people for the program, these newer members will receive their slots beneath you.
In case you're a techie and have some knowledge about smart contracts, you can view Dondi smart contract on the Ethereum blockchain via Etherscan to learn more about it.
How does Dondi Work?
Dondi works like any other pyramid scheme or multilevel marketing (MLM) company you might have known.
You pay a fixed fee to join the program, that fee gets funneled up the pyramid.
If you want to learn how you can make money or recover your initial investment through this platform, you're stuck with only one method of convincing a bunch of people to join underneath you.
You must note here that pyramid schemes (most of them) collapse when no new member is recruited.
Dondi utilizes X3 and X4 matrices for the recruiters. Any member that gets recruits underneath you will automatically slot into any of these matrices.
What happens to the joining fees?
On Dondi, all the slot fees are automatically paid to the referrer's ETH wallet.
The joining fee paid by any member follows a specific process of getting funneled up the pyramid.
Following this process, Dondi as a program will continue to be highly profitable for members who are at the top until the pyramid collapses.
The pyramid model collapses only when the members can't convince other people to join the program causing the bottom levels to lose their initial investment.
Dondi is not a total scam, but it lacks in gaining credibility of people with numerous loopholes.
Their website is filled with modern blockchain world jargon and dreams; things seem fishy when there are many show-offs, then details.
If you dive deep into what Dondi is, you'll see that it's a referral-based pyramid scheme disguised under the modern technologies of smart contracts, decentralization, and cryptocurrency.
Further, you must note that MLM companies are legal, but pyramid schemes are illegal in most parts of the world. Dondi must highlight its working to gain people's trust and encourage them to join the program; because, as of now, they look like an illegal scam.
In case you have a few dollars to test it out, you can try it. But programs like Dondi don't last in the long run.
If you're looking for a long term investment, you can search for some other program.
But in case you're in for a short term investment and are excellent in convincing other people, you can give Dondi a try.