There is no information about the company’s leadership or ownership structure on the Gym Network website.
In their stead, the firm presents Alberto Mera, Lewis Mhlanga, and Timur Ozturk as lower-level employees:
More investigation finds that partners name Claudio Catrini as Gym Network’s chief executive officer:
It’s unknown why Catrini isn’t included on the Gym Network website.
Catrini says he is “in love with crypto.” This has just been happening in the last year or so.
Catrini has lately entered the market for “passive income” cryptocurrency:
Passive income in the MLM cryptocurrency world is often shorthand for investment fraud.
Catrini formerly worked in digital marketing before making the transition to being a crypto dude. Major contributors in this regard are Trendda and “Claudio Catrini Akademie GmbH.
In 2019, Catrini was one of the founders of the startup Trendda. Since 2003, the world has been home to the Claudio Catrini Akademie.
Catrini also co-founded the multi-level marketing company Athletic Factory in the middle of 2021.
In Germany, there was a multi-level marketing company called Athletic Factory that specialized in the fitness industry (fitness appears to be a running theme for Catrini).
Though their website is still live, no one seems interested in visiting Athletic Factory any longer. In November of 2021, the official Athletic Factory Facebook page was deleted, indicating the firm was closed.
The domain name “gymnetwork.io,” which hosts the Gym Network website, was privately registered on December 13, 2021.
Catrini’s move from Germany to Bulgaria coincided with the demise of Athletic Factory.
When compared to other countries, Bulgaria’s performance on MLM regulation is abysmal.
For more information on the MLM potential of Gym Network, keep reading!
Products on the Gym Network
There are no Gym Network items or services available for sale.
Affiliates can only promote membership in the Gym Network affiliate program.
Compensation Structure of the Gym Network
Affiliates of the Gym Network put in at least 0.05 BNB. This action is taken in anticipation of a passive yearly profit:
Although the details are a bit murky, Gym Network’s “estimates” are
6.5% per year on BNB investments and 200% per year on GYMNET investments.
Gym Network promises its affiliates a 9.4% monthly return on investment (ROI) through the power of compounding.
There’s a marketing slide for Gym Network that claims a 250% ROI per year:
Payouts from Gym Network’s multi-level marketing (MLM) division depend on bringing in new investors as affiliates.
Fitness Centers’ Positions in Affiliate Networks
Gym Network’s affiliate program has 15 tiers of increasing compensation.
The following is a list of them, along with the qualifications needed to be considered for each position:
The member has a balance of 500 GYMNET tokens after investing 0.05 BNB.
Beginner I: Keep a balance of 500 GYMNET tokens and invest 0.10 BNB.
Beginner Two: Put in 0.25 BNB and keep your GYMNET token balance at 500.
Rookie III: Keep an investment balance of 500 GYMNET tokens and deposit 0.5 BNB.
To reach Amateur I, you must invest 1 BNB, have a GYMNET token investment balance of 5,000, and personally recruit two Rookie Is or higher. To reach Amateur II, you must invest 3 BNB, have a GYMNET token investment balance of 15,000, and personally recruit three Rookie Is or higher. To reach Amateur III, you must invest 5 BNB and have a GYMNET token investment balance of 50,000. To reach Junior Pro, you must invest 10 B
If you want to be a legend, you need to put up 200 BNB, keep 500,000 GYMNET tokens in your investment account, and have five Amateurs who you directly recruited. Or greater than
Bonuses for Making Referrals
When people join Gym Network and deposit money, they receive referral commissions on a single level of the incentive plan.
With a unilevel pay plan, an affiliate is at the top of a team and each person they recruit is at the same level as them.
When an affiliate on level 1 recruits another affiliate, the new affiliate joins the original affiliate’s unilevel team at level 2.
Affiliates on level 2 who bring in new affiliates get promoted to level 3, and so on, perhaps indefinitely.
There is a limit of sixteen in Gym Network’s paid uniform team leveling system.
Commissions for referrals are given as a proportion of the amount invested in bitcoin and scale with the referrer’s rank.
On the first tier, members get 10%. (personally recruited affiliates)
Gain 10% on level 1 and 7% on level 2 as a rookie I.
Earnings for Level 1 Experienced Rookie IIs are 10%, Level 2 is 7%, and Level 3 is 5%.
Earnings for Rookie IIIs are 10% on level 1, 7% on level 2, 5% on level 3, and 4% on level 4.
Earnings for Amateur begin at 10% on level 1 and decrease to 4% on levels 4-5.
Level 1 for Amateur IIs is worth 10%, Level 2 is worth 7%, Level 3 is worth 5%, Levels 4-5 are worth 4% and Level 6 is worth 3%.
Level 1 for Amateur IIIs pays 10%, Level 2 for 7%, Level 3 for 5%, Levels 4-5 for 4%, Level 6 for 3%, and Level 7 for 1%.
Earnings for entry-level professionals start at 10% on level 1 and decrease to 1% on level 8.
Experienced workers receive 10% at level 1, 7% at level 2, 5% at level 3, 4% at levels 4 and 5, 3% at level 6, and 1% at levels 7 through 9.
The salaries of senior professionals are as follows: 10% on level 1, 7% on level 2, 5% on level 3, 4% on levels 4 and 5, 3% on level 6, 1% on levels 7 through 9, and 0% on level 9.
10% on level 1, 7% on level 2, 5% on level 3, 4% on level 4, 3% on level 5, 1% on level 6, 0.5% on levels 7–9, and 5% on levels 10–11 for Champions.
Earnings for Co-Trainers begin at 10% for Level 1, drop to 7% for Level 2, 5% for Level 3, 4% for Levels 4 and 5, 3% for Level 6, 1% for Levels 7 through 9, and 0.5% for Levels 10 through 12.
On level 1, trainers earn 10%; on level 2, 7%; on level 3, 5%; on levels 4, 5, and 6; on levels 7 through 9; and on levels 10 through 13, trainers get 0.5%.
Level 1 Vice Presidents earn 10%, level 2 Vice Presidents earn 7%, levels 3–5 Vice Presidents earn 5%, levels 6–9 Vice Presidents earn 4% and levels 10–114 Vice Presidents earn 0.5%.
Level 1 pays 10%, level 2 pays 7%, level 3 pays 5%, level 4 and 5 pay 4%, level 6 pays 3%, levels 7 through 9 pay 1%, levels 10 through 14 pay 0.5%, and level 15 pays 0.25%. These are the salaries of presidents.
On level 1, legends earn 10%; on level 2, 7%; on level 3, 5%; on levels 4, 5, and 6; on levels 7 through 9; on levels 10 through 14; and on levels 15 and 16, legends get 0.25%.
Compensation documents provided by Gym Network indicate that referral commissions are given both on initial deposits and on the daily computed returns.
A single rate of compensation for referrals is listed. In that instance, we may assume that the same referral commission rate is applied to both the original investment and the daily returns.
Vice Presidents and higher-ranking affiliates of the Gym Network are eligible to participate in one of three bonus pools based on their respective ranks.
Shares in a 0.5% Gold Pool are allocated to Vice Presidents.
Both the President’s Gold Pool and 1% Black Pool shares are awarded to them.
Aside from the standard Gold and Black Pools, Legends are also eligible to receive a 1.5% Platinum Pool payout.
An agreed-upon share of “global daily profits” is used to fund the bonus pools.
It’s not clear if this refers to the company’s overall bitcoin investment or dividends distributed to employees.
Gym Network has three different “turnover-based pools” outlined in its employee handbook.
Split the pool in half: 1% for the national pool and 1% for the international pool.
The pools are once again supported by a predetermined percentage of “global daily revenues.” This, along with what exactly is required to enter the pools, is unclear.
The affiliate program Gym Network appears to have no joining fee.
To fully benefit from the attached income possibility, a preliminary investment in BNB is required.
Increasing your GYMNET investment is necessary to move up the affiliate ranks.
Gym Network goes a little too deep into the Defi nerd space, perhaps on purpose, perhaps out of necessity.
To kick things off, Gym Network promotes itself as a “Defi Aggregator Investment System.”
While Gym Network does not provide much in the way of formal remuneration information, I have a sneaking suspicion that most crypto dudes who invest are just waiting for the daily figure in their back office, regardless of whether or not they comprehend the language.
The “vault” is crucial to the economic strategy of Gym Network, where bitcoin investments are stored.
The balance that early investors and the administration can withdraw is what this term refers to in more technical terms.
You, the investor, sit back and watch the numbers rise, crossing your fingers that there will be enough money to pay out when the time comes.
Gym Network is just a straightforward platform for sharing gym memberships, despite the marketing buzzwords to the contrary.
You’re using BNB in the front end, and you’ll be paying everyone in GYMNET tokens in the back end.
The GYMNET coin is a BEP-20 token. These may be put in place in a matter of minutes for next to nothing.
Exactly like any other Ponzi token, GYMNET has no value outside of the Gym Network ecosystem.
Gym Network instead feeds investors this nonsense instead of being forthright about the situation:
The current plan is as follows:
On the BNB side, returns are created by Alpaca Finance, which is represented by Gym Network.
On BNB Chain and Fantom, Alpaca Finance is the largest loan protocol that enables leveraged yield farming.
Make Money with Alpaca Finance and Get Token Rewards
As a prominent Defi protocol on Binance Smart Chain, Alpaca Finance enjoys widespread support.
As expected, Alpaca Finance is just another crypto bro Ponzi scam. It was said on their website that investors may earn up to 370% each year.
Alpaca Finance appears to be completely unrelated to Gym Network.
In the same way, as Gym Network has its shitcoin, Alpaca Finance does as well. ALPACA has only been active for a month, but thus far, here is how it is performing:
It’s about par for the course.
Simply said, no matter how it’s presented, Gym Network can only pay out the amount that has been invested in BNB.
Good luck cashing it in, because GYMNET is already a rat race.
When people stop investing in MLM Ponzi schemes, it’s because affiliate recruiting has dried up.
As a result, Gym Network will run out of its invested BNB and be unable to make withdrawals.
This leaves GYMNET tokens, which are useless for the reasons stated above.
Most people who participate in Ponzi schemes are going to end up out of pocket because of how the schemes are calculated
A reminder that “but my back office says 42069% ROI” is meaningless until you can pay out 42069%, given that so much of bitcoin is numbers on a screen.
Be warned: you won’t get your money back from the administrative con artists if you didn’t invest with them early.