FORSAGE: Forsage-Tron and what it is all about by @swaylee

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Greetings Everyone,
My name is Rasheed and today we would be looking at a rather interesting topic. I'm sure we must have all heard about FORSAGE, a high risk smart contract which people use to make lots of money especially during the lockdown but could it be more than just what meets the eye? This is what I would be talking about in this post so if you are interested in knowing the truth then stay tuned and keep reading.

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What is FORSAGE

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FORSAGE is said to be a crowdfunding smart contract where digital products are sold and bought directly by users with no third party involvement. It has helped enrich the pockets of many decentralized marketers especially those who started earlier. Atleast this is what they claimed to have done but today I would be arguing against most the points above.

They originally started the smart contract on the Ethereum Blockchain and we're thriving on it especially during the COVID-19 lockdown where lots of people started getting crypto inclined, people's jobs were halt and people started trying to make money online. Their users grew tremendously but there were a few serious problems. These problems include the fact that the Ethereum Blockchain had very high gas fees so the gas fees were more than the cost of registering, then transactions were relatively much slower hence many transactions are delayed and left pending.

There is no doubt that this high risk crypto referral scheme enriched the pockets of the early birds so they didn't mind going through with it. During this period, it was done strictly with ether and helped many other people accumulate ether when it was much cheaper so they decided to make it even better by making a similar project on the Tron blockchain for faster transactions and lower transaction fees.

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What is FORSAGE-TRON (ForTron) & How does it Work?

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During the same lockdown period, the FORSAGE team moved to the Tron blockchain and during the period, 1 TRX was about $0.019 and to be a part of the chain, you need to start with about 700 TRX although it eventually reduced. The transactions were carried out using TRX strictly. I was still a newbie in the crypto world so my friend brought up the topic and told me how he had earned 900 TRX through ForTron and I immediately rushed to join.

So here is how it worked for me,

You would buy a minimum of 110 TRX and register under someone ( the person who brought you to the platform who is called an Upline) then your 110 TRX joining fee would be taken a distributed between those in the higher ups which are your upline and the people who brought in your upline. Then you would successfully join the chain at level one. The higher your level the higher your chances of receiving spillage but let's not forget that you pay in TRX to level up.

So for each person you refer, you earn 50 trx them the remaining 60 TRX would be spread between the other uplines which is called spillage. A user who wishes to upgrade to level 2 would have to pay 110 TRX extra and so on. You can pull out your money anytime you like. Although the system was not completely flawless.

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Common Terms Used in Forsage-Tron

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✓ Upline. This is the referer, he does the job of persuading people to join and once he's able to refer someone, he successfully becomes the person's upline.

✓ Downline. This is the referred, he is persuaded into joining and joins under someone hence he becomes the person's downline.

✓ Spillage. This is the income (in TRX) given at random to Uplines when their Downlines make a successful referral.

✓ Sign up/Registration fee. This is the amount in TRX (depending on what your upline tells you) which you pay in to be able to join the contract. You buy TRX and pay it in so as to be able to join under the your upline.

✓ Referral Bonus. This is the amount in TRX you get whenever you register a downline. During the lockdown for the one I joined, the referral bonus was 50 trx for each referral. My upline happened to be very good at referrals so he gained up to 1000 TRX in referral bonus and 300 TRX in spillage.

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Common Flaws Of Forsage-Tron

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✓ Uplines with lots of referrals complained that there was no spillage reaching them but instead all the spillage was going to the first 50 people to join.

✓ Downlines (people who got referred under someone) complained that they weren't given proper information before getting sign up as people go as far as lying just to get referrals.

✓ Downlines who got referred into the stuff without proper information were terrible at referrals hence they ended up loosing because no money meant no earnings.

✓ Those who started really early as in the top 100 reaped most of the rewards of their numerous downlines and so it's all in their favour.

✓ They use the term marketing digital products to lure people in by using it to sugarcoat the fact that it is simply a pyramid scheme and it is more of refer to earn.

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Final Thoughts and Advice

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Supposed digital marketers are always looking for means to lure people in especially when there is something to gain through referrals so they might censor some information when trying to get you to sign up. It's now your mission to either ignore or do your own research before jumping in.

Sure there is money there but only do it when you know you can refer a standard amount of people and make sure to start early so your potential referrals wouldn't start before you. Currently they have moved to the Binance Smart Chain and are doing something called Forsage-BUSD. It's similar to ForTron so if you are interested, you can do your research and join at your own risk.

Thanks for Reading ⭐

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