The emergence of Smart Contracts has elevated the reliability of MLM businesses. Also known as a referral or network marketing, MLM has been successfully implemented by various companies worldwide to grow their customer base. With technology by their side, these MLM businesses can reach a whole new level. One of the worrying characteristics of MLM businesses is the involvement of intermediaries. Besides, referrals in the network expect transparency throughout the system.
Smart Contracts backed by Ethereum blockchain can be an ideal way to build trust around the entire network. Online MLM platforms like Etrix.io, Million Money, etc., have successfully leveraged these technological advancements to their fullest potential. Are you an entrepreneur who aspires to build an MLM empire like Etrix? If so, you need to know the different types of matrices & wallets that make an Etrix clone highly reliable. This blog discusses such unique elements that make an Etrix Smart Contract MLM clone script stand apart.
Etrix.io – An Overview
Etrix is the first Smart Contract MLM software that runs seamlessly on two matrices. The platform runs efficiently on the Ethereum blockchain, transferring funds among members with complete encryption. The MLM platform is considered risk-free and enables lightning speed transactions. A user can earn as many as 806 ETH every 90 days of cycle operation.
The Impeccable workflow
Being a self-executing platform, the system is entirely decentralized and propels hassle-free transactions. The workflow is summarized as follows,
- Sign up: Participants register with the platform and join the 1st level by paying the entry fee of 0.08 ETH. This initial payment fee will be processed to the system’s upline members for their referral.
- Log in: One of the notable aspects of developing a platform like Etrix is that no login credentials are required. Users are assigned an Ethereum wallet number using which they can log in to the platform effortlessly.
- Referrals: Users refer more participants into the system. For every successful referral, they’ll start earning commissions. The new user paying 0.08 ETH goes straight into the pockets of the referrer.
- View commissions: Upon successfully registering with the platform, matrix one or the Forced matrix gets activated. By bringing in more than two referrals, the user can activate matrix two or Team matrix. They can view their ETH earnings in their wallet.
- End of the period: Users continue to bring in more users and upgrade their levels simultaneously for 90 days. Besides, participants get to extend their levels.
- Initiation of next cycle: Upon yielding lucrative benefits in the cycle, users can register for the next cycle and continue to upgrade their levels. This way, they can earn up to 806 ETH for every 90-day cycle.
Different Types of Matrices
Etrix is one of the very few MLM platforms that run on two matrices concurrently. Let’s discuss the types of matrices and their functionalities in the upcoming section.
- Forced matrix: This is one of the effective and easily understood model and can do the trick for participants who are relatively new to MLM schemes. The matrix follows a binary tree structure and propels users to earn commissions from every user registering below them.
- Team matrix: This matrix gets activated when users successfully refer two participants to the system. Here, new members are added to the same team as existing members. The matrix helps team members gain better clarity when it comes to commissions and upgrades.
- Hybrid matrix: A decentralized medium works the best with a hybrid matrix. The main difference between the team matrix and the hybrid matrix is the commission structure. The matrix focuses explicitly on the downline to achieve continuous commissions and upgrade levels.
The types of Crypto wallets
To enable 100% transparency and military-grade security, crypto-wallets come in handy. They facilitate lightning-speed P2P transactions, eliminating the role of an admin. The wallet options worth-considering in an Etrix Smart Contract MLM clone script are,
- MetaMask: This wallet is explicitly designed to cater to the needs of PC & Laptop users. Trusted by millions of crypto users worldwide, the wallet is a safe and secure decentralized web medium for crypto transactions.
- TrustWallet: With enhanced smartphone penetration, Android & iOS users can rely on TrustWallet as they are accessible on any given day and time. The wallet option provides instant notifications to smartphone users, making it highly reliable.
Lucrative benefits of an Etrix MLM clone
Now, what’s a business without enticing advantages? An MLM business must help both entrepreneurs and participants to boost their revenue in the shortest time possible. Some of the benefits of the Ethereum-based Smart Contract MLM like Etrix include,
- Earning 806 ETH in 90 days is no easy feat. The MLM clone platform can help a participant amplify their revenue in no time.
- Participants can access the platform both via the web and smartphones. This accessibility can captivate a wide range of audiences effectively.
- Account activation requires only 0.08 ETH. This minimal registration fee can open the floodgates for unrestricted revenue in the future.
- Being an entirely decentralized system, the platform paves the way for 100% transparency and reliability.
- The introduction of Smart Contracts eliminates any form of paperwork, propelling the entire business to turn digital. This digital way of operation comes with numerous advantages like minimal error, very low maintenance costs, etc.
- Users can upgrade their levels by bringing in more referrals. Besides, they can even extend their period if need be, paving the way for ultimate flexibility.
- The clone app can handle unlimited participants and sustain traffic seamlessly.
Implementable in any business
One of the significant advantages of the Etrix MLM clone script is that it is adaptable in any business. A business that wishes to grow a massive customer network in a short period can make the best use of these MLM clone solutions. Besides, the Etrix MLM clone is highly dependable and scalable in every aspect, enabling you to modify the matrix structure after every cycle.
The MLM sector is a rapidly-growing business vertical that forecasts a $650 billion net revenue by the end of 2024. With the emergence of clone app solutions, storming into the flourishing MLM sector has never been this easier. Reach out to an MLM clone development company, customize their clone script, and reap revenue in the shortest possible time.