Streakk operates within the cryptocurrency area of interest. The corporate is headed up by founder and CEO, Suki Chen.
Suki Chen’s precise identify is Sukijami Chendrawan. He’s believed to be an Indonesian nationwide.
In line with Chen’s Streakk bio, he’s a “seasoned entrepreneur with (a) confirmed monitor document”.
Chen’s LinkedIn profile particulars an early training and life insurance coverage background. He then held a short govt place with Odem, earlier than the same old string of failed blockchain bro initiatives.
Chen seems to have reinvented himself as a blockchain bro circa late 2018.
With respect to Streakk, Chen’s LinkedIn profile represents it launched in 2019.
That is baloney. Streakk’s web site area wasn’t registered till Could twenty first, 2022. Streakk didn’t exist previous to Could 2022.
In line with his LinkedIn profile Chen, and due to this fact Streakk, are based mostly out of Dubai.
Streakk’s web site additionally supplies contact particulars for an workplace in Singapore. How a lot of a bodily presence Streakk has in Singapore is unclear.
Dubai is the MLM crime capital of the world. Any MLM firm working out of or representing ties to Dubai raises an instantaneous pink flag.
BehindMLM’s pointers for Dubai are:
- If somebody lives in Dubai and approaches you about an MLM alternative, they’re making an attempt to rip-off you.
- If an MLM firm is predicated out of or represents it has ties to Dubai, it’s a rip-off.
If you wish to know particularly how this is applicable to Streakk, learn on for a full evaluate.
Streakk’s Merchandise
Streakk has no retailable services or products.
Associates can solely market Streakk affiliate membership itself.
Streakk’s Compensation Plan
Streakk associates make investments cryptocurrency on the promise of marketed returns:
- make investments bitcoin and obtain 7% a yr
- make investments ethereum and obtain 10% a yr
- make investments tether and obtain 14% a yr
- make investments binance coin and obtain 15% a yr
- make investments cardano and obtain 15% a yr
- make investments polkadot and obtain 16% a yr
- make investments STKK (Streakk’s in home token) and obtain 20% a yr
- make investments MATIC and obtain 15% a yr
Word that though Streakk advertises annual return charges, returns are paid weekly.
Streakk’s advertising suggests the minimal funding quantity in any cryptocurrency is a $100 USD equal. $200,000 USD seems to be the utmost funding quantity.
Along with direct cryptocurrency funding, Streakk associates may put money into node positions.
- Shared Node – make investments $100 or extra for 7 years and obtain 2% every week, paid in STKK tokens
- Devoted Node – make investments $5000 or extra for 7 years and obtain 5% every week, paid in STKK tokens
- Devoted Node Professional – make investments $25,000 or extra for 7 years and obtain 8% every week, paid in STKK tokens
Streakk’s advertising suggests an extra 2% every week is paid out:
What that is paid out on or how is unclear. Additionally word that, as per the Streakk advertising slide above, STKK returns are locked for 100 weeks (that means you possibly can’t truly withdraw them for nearly 2 years).
The MLM aspect of Streakk pays on funding by recruited associates.
Streakk Affiliate Ranks
There are fifteen affiliate ranks inside Streakk’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Affiliate – enroll as a Streakk affiliate
- Jade – persuade others to speculate not less than $2000 in cryptocurrency
- Pearl – persuade others to speculate not less than $5000 in cryptocurrency
- Sapphire – persuade others to speculate not less than $10,000 in cryptocurrency
- Sapphire 25 – persuade others to speculate not less than $25,000 in cryptocurrency
- Ruby – persuade others to speculate not less than $50,000 in cryptocurrency
- Emerald – persuade others to speculate not less than $100,000 in cryptocurrency
- Diamond – persuade others to speculate not less than $250,000 in cryptocurrency
- Double Diamond – persuade others to speculate not less than $500,000 in cryptocurrency
- Triple Diamond – persuade others to speculate not less than $1,000,000 in cryptocurrency
- Crown Diamond – persuade others to speculate not less than $2,000,000 in cryptocurrency
- Royal Crown Diamond – persuade others to speculate not less than $5,000,000 in cryptocurrency
- Vice President – persuade others to speculate not less than $10,000,000 in cryptocurrency
- Senior Vice President – persuade others to speculate not less than $30,000,000 in cryptocurrency
- International President – persuade others to speculate not less than $50,000,000 in cryptocurrency
Word that of the required quantities, solely 40% of invested cryptocurrency is counted from anyone recruitment leg (see “Referral Commissions” under for unilevel rationalization).
Referral Commissions
Streakk pays referral commissions through a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the high of a unilevel workforce, with each personally recruited affiliate positioned straight underneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel workforce.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
Streakk caps payable unilevel workforce ranges at 15.
Referral commissions are paid as a proportion of invested cryptocurrency throughout these 15 ranges as follows:
- degree 1 (personally recruited associates) – 15%
- degree 2 – 10%
- degree 3 – 7%
- ranges 4 and 5 – 5%
- ranges 6 and seven – 2%
- ranges 8 to 13 – 1%
- ranges 14 and 15 – 2%
Rank Achievement Bonus
Streakk rewards associates for qualifying at Pearl and better with the next one-time Rank Achievement Bonuses:
- qualify at Pearl and obtain $200
- qualify at Sapphire and obtain $400
- qualify at Sapphire 25 and obtain $1000
- qualify at Ruby and obtain $2000
- qualify at Emerald and obtain $4000
- qualify at Diamond and obtain $10,000
- qualify at Double Diamond and obtain $20,000
- qualify at Triple Diamond and obtain $40,000
- qualify at Crown Diamond and obtain $80,000
- qualify at Royal Crown Diamond and obtain $200,000
- qualify at Vice President and obtain $400,000
- qualify at Senior Vice President and obtain $1,200,000
- qualify at International President and obtain $2,000,000
Streakk pays out Rank Achievement Bonuses over 5 months (20% every month).
International Lifetime Pool
Streakk takes 10% of company-wide funding and locations it into 4 smaller 2.5% International Lifetime Swimming pools.
Associates earn shares in these swimming pools based mostly on rank:
- Sapphire 25 to Emerald associates obtain a share in one of many 2.5% pool
- Diamond to Triple Diamond associates obtain a share in two of the two.5% swimming pools
- Crown Diamonds and Royal Crown Diamonds obtain shares in three of the two.5% swimming pools
- Vice Presidents and better obtain a share in all 4 2.5% swimming pools
Becoming a member of Streakk
Streakk affiliate membership seems to be free.
Streakk Conclusion
Streakk is one more MLM crypto Ponzi scheme, dressed up in “staking” and “annual yield” advertising.
Staking is crypto bro communicate for “investing”. “Annual yield” is crypto bro communicate for “annual return”.
This enterprise mannequin constitutes a securities providing, requiring Streakk to register with monetary regulators.
SimilarWeb at the moment tracks high sources of site visitors to Streakk’s web site as France (43%), Spain (19%), Germany (10%) and Italy (5%).
Streakk will not be registered to supply securities in any of those international locations. Because of this, at a minimal, Streakk is committing securities fraud.
MLM firms commit securities fraud as a result of they’re working Ponzi schemes.
That’s to say, all Streakk are doing is recycling newly invested funds to repay current traders.
STKK token is a BEP-20 shit token. Streakk creates STKK on demand, permitting it to pay ridiculous returns and create monopoly cash out of thin-air.
STKK launched in August 2021. By what seems to be wash buying and selling, Streakk pumped to $419 in late October.
Buying and selling quantity then crashed (i.e. the bot buying and selling quantity was decreased), dumping STKK to $156 in mid December. That is typical of vacation season withdrawal stress Ponzi schemes expertise.
As of mid December, STKK has pumped again as much as $287. This seemingly corresponds with new investor recruitment.
As with all MLM Ponzi schemes, as soon as affiliate recruitment dries up so too will new funding.
This may starve Streakk of ROI income, ultimately prompting a collapse.
The mathematics behind Ponzi schemes ensures that after they collapse, the vast majority of traders lose cash.
If you wish to see this in motion with a just lately collapsed “staking” MLM crypto Ponzi, look no additional than Aubit/Freeway.
Similar enterprise mannequin, similar nonsense, similar inevitable losses.
