Enhance your business efficiency with a Smart contract MLM software

A Smart contract MLM software digitizes all the business processes and works in a decentralized and transparent manner. They are created on blockchain networks like Ethereum, TRON, and EOS.

What are the various types of Smart contract MLM software?

1.Ethereum Smart contract MLM software — Deployed on the Ethereum blockchain network, it supports numerous MLM schemes and matrix plans. The users earn all their rewards in Ether (ETH). The MLM software takes care of member allocation, distributing the commission to the users, processing of peer to peer transactions, and sharing the rewards. It is fully decentralized and highly secure. The features include integration with numerous payment gateways, integration with MetaMask and Trust wallets, real-time tracing of crypto assets, seamless cross-platform compatibility, and a user-friendly design. Etherscan will contain details of the transactions executed, the wallet addresses, the tokens bought and sold, and the crypto holdings of the users.

2. TRON Smart contract MLM software — This is extremely beneficial for firms operating in the media and entertainment industries. It is built using the TRON Virtual Machine (TVM) and the Solidity programming language. Users earn income in Tronix (TRX) crypto for participating in the matrix scheme. Compared to Ethereum, the TRON blockchain network does not have any gas fees. It also has a faster transaction speed and a lower transaction fee. It is hack-free, eliminates the role of middlemen, and can handle up to 10 million users at a time efficiently.

3. EOS Smart contract MLM software — The EOSIO nodes manage the functioning of the EOS Smart contract MLM software. There are no transaction fees charged on the platform. It uses a secure distributed proof of stake consensus (DPOS) mechanism leading to less energy consumption. Horizontal scalability, interoperability, and asynchronous communication are ensured in the EOS Smart contracts. It can also be seamlessly integrated with different DApps promoting a better user experience.

The advantages offered by a Smart contract MLM software

• It is entirely scam-free and there is no chance of fraudulent activities to occur on the platform.
• A well-defined peer to peer technical architecture ensures a high level of user safety.
• The whole system is unstoppable without any possibility of interruption.
• Users are provided access to their transaction history anytime and anywhere. The transaction records are stored in the BlockExplorer of the network.
• There are numerous sources of revenue available to increase users’ earnings. A small initial investment is enough to generate high returns.
• A transparent business model is ensured with the elimination of intermediaries from the platform.
  Instant processing of transactions is ensured without any delays.
• The users’ data and funds are stored in an immutable manner making them immune to manipulation, hacking, and phishing attacks.
• It provides a good source of passive income for the users just by making referrals.
• A high level of flexibility is available for the users giving them a lot of freedom.
• Different tools like a multi-currency wallet for storing the crypto tokens of the users safely, APIs with the leading external exchanges in the market to boost liquidity, and a transparent investment module to grow the users’ earnings are available on the platform.

The different plans supported by a Smart contract MLM software

• Binary plan — It is a two-tier system that functions as a tree structure. It is very easy to use, and users can fetch high profits if they regularly participate in business activities. There are many types of binary spillover such as extreme end (left or right) spilling, multi-position spilling, weaker leg spilling, and balanced ratio spiling. The return on investment depends on the total sales volume, commission, and bonus earned.
• Matrix plan — It reduces manual intervention by keeping a real-time track of the downline’s income and expenditure level. It offers various bonuses like sponsor bonus, level commission, matching bonus, position bonus, and forced matrix bonus to the users. The compensation structure is unchangeable, the matrix plan can be integrated seamlessly with e-commerce platforms, and multilingual technical support is provided.
• Unilevel plan — The plan can be expanded by many times and all the downlines of a distributor will be connected in the same frontline business stage. It offers different bonuses like sponsor bonus, fast start bonus, level commission, rank advancement bonus, and leadership bonus. It has inbuilt promotional tools and supports multiple digital currencies.
• Hybrid plan — It combines two or more different compensation plans. Affiliates earn more income by using a Hybrid plan. The advantages are an increase in the turnover by the sponsors in partnership with the upline, an extra matching bonus for the users, and support the rapid growth and development of the MLM business.
• Australian binary plan — It is very easy to use and is an extension of the American binary plan. The plan is also called a 2:1 or a 1:2 plan as the three members are either placed on the right or the left side. The benefits comprise quick payment of commission to the users, non-requirement of matching, numerous registration options through e-commerce platforms, credit cards, and payment gateways, and the provision of real-time SMS marketing facilities.
• Generation plan — Income is distributed to the members based on the established generation structure with different levels. It is apt for those firms aiming to increase the sale of their consumer durables. It is also known as a gap commission plan or repurchase plan.
• Stairstep plan — The returns depend on the level of trading volume and the speed at which products are sold to the users. Members can sponsor an unlimited number of associates and distributors leading to a huge income for the affiliate. The commission calculation will depend on the performance of various parties like the sales executives, distributors, supervisors, managers, and national directors. Downline distributors can recruit further on the plan and they can limit the size according to their wishes.
• Monoline plan — Every member is under the same level in the Monoline plan. It works on a first come first serve basis. The commission earned is tracked on a real-time basis. Users get compensation through referral bonuses, rejoin bonuses, and matching bonuses. It offers an attractive source of income as there is no limit and the profits can also be divided among the users.
• Spillover Binary plan — More upline members will join the plan than the required number in the downline. Each new joiner is considered as a spillover. The various bonuses provided to the users are a binary bonus, sponsor bonus, and matching bonus.
• Australian X-Up plan — It keeps live tracking of both downline sales and upline commission. There is always a one-time sale of the product without any chance of residuals. A large amount of cash can be realized with a sale of a product and extra bonuses can also be added to the payment structure.

The process followed in building a Smart contract MLM software

• Analyzing the business requirements of the firm thoroughly.
• Following an agile development, a methodology to create a solution.
• Incorporating blockchain technology and smart contracts into the software.
• Extensively testing the solution to remove all the technical bugs.
• Deploying it on the operational network.
• Providing 24x7 technical support, software upgrades, production infrastructure enhancement, and maintenance services post-deployment of the solution.

Businesses can make use of a ready-made Smart contract MLM software and upgrade their operational capacity. It can be quickly deployed and is highly cost-effective with zero downtime.