Graham Frame has dropped the “guaranteed minimum value” for his WESA tokens.
Turns out manipulating the sell value for Ponzi tokens only works if there’s new investment rolling in.
What a shock.
WESA tokens are part of Frame’s We Share Abundance Ponzi scheme.
Through WSA Frame (right) touts monthly returns of 50%.
Returns were paid in WESA tokens and cashed out via an internal exchange.
As per an email sent out by Frame to We Share Abundance investors;
I have been thinking long and hard and have decided that we must remove the Guaranteed Minimum Value (GMV) from the site and make everything linked to Market Value (MV).
The amount of speculation now in the market in WESA means that the market value is affected by too many people simply recycling WESA for profits holding the price down and so making the sustainability of a GMV no longer viable.
This will mean that WESA is free to operate as a true market value token and actually allow members to earn more tokens each month; currently 3 times as many for the same rewards.
What Frame has effectively announced is We Share Abundance’s public-exchange exit-scam.
The public exchange exit-scam model sees a scam close its internal exchange or peg trading value to a public trading value (token/coin is dumped on a few dodgy exchanges).
Investors are then eventually forced to come to terms with their being no interest in their coin/token outside of the Ponzi scheme.
The ones that accept this first cash out what they can (typically early investors and top recruiters), leaving the majority of affiliates bagholding another worthless Ponzi token.
Frame pitching ‘members to earn more tokens each month; currently 3 times as many for the same rewards’, suggests he’s expecting an initial 66% reduction in WESA’s post-manipulated internal value.
WESA token withdrawals will of course remain heavily restricted:
Withdrawals from WSA will still operate in the same way, until greater liquidity is built, to avoid flooding the market prematurely.
Frame initiating WSA’s public exchange exit-scam follows two failed attempts to prop up We Share Abundance.
Back in January We Share Abundance introduced a “new matrix plan“.
Under the plan WSA affiliates were asked to pay $10 a month, $9 of which was used to pay pyramid recruitment commissions. Frame kept $1 of every $10 paid in.
Last month Frame launched “MultiplyWESA”, a 300% ROI Ponzi cycler (BehindMLM review pending).
Evidently both of those flopped, and so now we have a WESA token withdrawal race to the bottom.
Unfortunately for WSA affiliate investors, Frame holds all the cards with respect to who can withdraw what and when.