Beware of BuilderDefi – Review Part 2

Alan Friedland continues to promote cryptocurrency Ponzis despite last week’s settlement of his CFTC CompCoin fraud case.

Today we’re looking at BuilderDefi, which is an NRGY sequel despite not being labeled as such.

The commitment to creating “a better financial system for everyone” can be found on the BuilderDefi website.

The unique distributed business building platform Builder, which enables the development of decentralized apps, is the future of decentralized finance.

Who is behind BuilderDefi is not revealed in any detail.

On November 8th, 2021, private registration was made for BuilderDefi’s website domain.

A BuilderDefi webinar was conducted by a man going by the name of “Sal Alicia” on Sunday, February 6.

I’m thinking I have this name wrong because I can’t locate it. But because that’s how it sounds, let’s use that (if anyone recognizes him leave details in the comments).

BuilderDefi’s creator is identified as Alicia. He claims Alan Friedland was BuilderDefi’s “developer and architect,” yet he doesn’t claim complete credit.

The person I hired and brought on board was the project developer and architect for Builder.

This entire platform that we created for Builder was sort of designed by Alan, who is also its brain.

Later in the call, it is clear that Friedland is in fact in charge of BuilderDefi.

It’s also important to note that NRGY is the target of the contract link on BuilderDefi’s website.

On BuilderDefi’s website, NRGY is also specifically mentioned:

After the CFTC pursued Friedland for CompCoin, NRGY was his second effort at cryptocurrency fraud.

Although Friedland did take the lawsuit to trial, last week’s mid-trial settlement avoided a loss.

NRGE failed. NRGYGO’s relaunch also succeeded. BuilderDefi is the third effort to revive the system, which takes us full circle.

BuilderDefi is designed to work with BLDR. However, it is uncertain whether BLDR now exists or not given that the website links to NRGY’s contract.

The pitch for BuilderDefi includes a weekly ROI of 5%.

As an alternative to conventional banking, Alicia promotes BuilderDefi’s passive returns:

I want you to give this some thought. Exists a coin that can provide that level of return?

Do you receive a 1% weekly salary from your bank?

That’s what we’re aiming towards, and I believe it’s crucial for the neighborhood.

that they are aware that they are using their hard-earned money to benefit themselves. It is exactly that.

Two-level deep referral commissions are also offered to promote investment.

You may earn 8% by persuading people to invest in NRGY (or BLDR). You will get 3% of any investments that your recruits secure.

He presents the potential during the aforementioned webinar that Alicia is hosting. Santos Kidd and Chris Hawk are present with him.

Kidd states that before entering the banking industry, he washed dishes. He currently controls Kinaole Financial, a business that offers debt relief but has a defunct website.

Kidd explains that Kinaole Financial is a component of BuilderDefi’s business in between jokes about borrowing money to buy children from the Philippines.

An ex-NRGY employee is Chris Hawk. Hawk “very much handles the NFT side of this whole business,” according to Alicia, who claims he got connected with Friedland and Hawk “around a year ago”—making him an NRGY alumnus as well.

The song Starstake, which NFT bullshit Hawk promoted last year, has been repackaged.

NRGY was planned to include Starstake.

Although Friedland is mentioned in Alicia’s webinar, it’s not obvious if he was intended to be there.

He only jumps on when someone going by Henry questions about how long invested monies will be locked up.

when BuilderToken is published, locked liquidity. Will it be locked for three months, six months, a year, or five years?

Before Friedland intervenes (“Alan, is Alan here?”), Alicia seems to be having a little panic attack (“Um, hang on a second…”).

Alicia seems to have misunderstood the query, which is a cause for concern in and of itself.

Alicia: Hello, Alan Did you comprehend what I asked? Sorry…

Friedland: He was interested in knowing what Builder’s locked liquidity would be.

Alicia’s ignorance is hardly shocking, I should point out.

Duane Noble and Chris Hawk were NRGY’s frontmen under Friedland. In BuilderDefi, Alicia is taking on the same job.

In late January, when I checked up with Noble, he was promoting some Polygon NRGY integration nonsense:

Returning to the webinar, Friedland clarifies the following in response to Henry’s query:

The way it’s organized… We didn’t want to create a situation where early investors, who also benefited from the reduced coin price, could immediately withdraw significant sums of the coin from the staking contract, harming others who staked (invested) later.

The concept behind Builder’s design was that there would be a calendar percentage of staking that you could withdraw your earned benefits—which are fairly significant—every week if you so desired. Alternatively, you could reinvest those rewards into the staking contract.

However, for the first forty weeks, you wouldn’t be able to withdraw the whole purchase price.

In comparison to those who invest later, Friedland continues, “those on this call are going to have all the benefits.”

Any Ponzi scheme would operate like this.

Friedland describes the Ponzi money flow within Builder later in his response.

The wonderful thing about Builder is that fresh prizes are only created when new money is staked.

Before the protocol minting additional rewards over the following three weeks that are distributed to all speakers, someone must invest cash, buy the currency, and transfer the funds to the liquidity pool on the decentralized market.

The lesson learned is that the money put into the pool is what gets taken out afterward (converting worthless Builder tokens to USDC, which is then cashed out elsewhere).

In conclusion, BLDR bagholders are replacing NRGY bagholders, although the BLDR link on BuilderDefi still refers to NRGY.

The standard passive return rate is 5% per week, and referral commissions are also available.

As opposed to the NRGY quick dump and slow-bleed collapse…

The BLDR investment will be restricted for 40 weeks, following which the earliest investors will liquidate the remaining shares.

The biggest investors (Alan Friedland and pals) will use the first 40 weeks to clear out their investments through ROI withdrawals.

In the meanwhile, rank-and-file BuilderDefi investors are encouraged to reinvest:

The goal is that there won’t be anything left by the time they’re prepared to leave.

BuilderDefi continues to be a closed-loop money flow. Before withdrawals are realized and paid out of invested assets, returns are monopoly money.

BuilderDefi is the ultimate Ponzi scheme, to put it another way.

Unfortunately, the CFTC is unlikely to take notice of BuilderDefi. Only signals were mentioned.

TradeGenie was supposed to be used for automatic trading with NRGY, however, that concept appears to have been abandoned.

The SEC’s jurisdiction over US securities legislation is violated by BuilderDefi. On NRGY or NRGYGO, they have not moved.

In light of the CFTC settlement, it will be interesting to watch what happens with BuilderDefi.

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