GSPartners' proprietary G999 and LYS tokens are collapsing, leading the company to introduce a new internal token called GEUR. This development follows a series of failed investment vehicles, including "metaverse certificates," that have left participants unable to access promised returns. The GEUR offering appears designed to manage affiliate withdrawals and maintain an illusion of stability amidst the downturn.
G999 served as GSPartners' original cryptocurrency. Investors were encouraged to purchase G999 investment packages, often presented with vague promises of exponential wealth. However, the token's value steadily declined, contradicting promotional claims and resulting in significant losses for those who invested.
As G999's trajectory became clear, GSPartners began launching additional digital assets. After encountering difficulties with proposed Dubai property schemes, the company shifted direction and introduced an NFT-based venture known as Lydian World. This platform was linked to both LYS and XLT tokens, though the latter has since largely disappeared from GSPartners' public discourse.
Lydian World also failed to gain traction. The NFT "game" did not attract a substantial user base, and the LYS token quickly lost value. The company's attempts to establish a functional ecosystem around LYS proved unsuccessful.
Subsequently, GSPartners launched a "metaverse certificates" scheme. This program required affiliates to pay an upfront fee, then invest sums up to 700,000 USDT. The primary inducement was a promised annual return on investment of 480%.
Michael Dalcoe, GSPartners' US-based CEO, described the metaverse certificates during a recent webinar aimed at American investors. He claimed funds were placed "on the blockchain" and managed by a "trading partner," generating returns "around 72% a year and higher." Dalcoe asserted that money could "really double about every six or seven months." Such high, guaranteed returns are often flagged by financial regulators as indicative of unsustainable business models.
Despite these assurances, returns from the metaverse certificates, while shown in USDT, were not directly withdrawable. Instead, affiliates were instructed to allocate their USDT earnings towards LYS token mining. This process was presented as the eventual pathway to cash out, forcing participants to engage with the failing LYS token.
To address the growing inability of affiliates to convert their earnings into spendable currency, GSPartners introduced GEUR. This new token operates exclusively within the GSPartners internal system and is promoted as holding parity with the euro. It creates an additional layer in the withdrawal process.
Affiliates attempting to cash out their metaverse certificate ROI must first convert it to GEUR. Then, they use the GSPartners backoffice to convert GEUR into USDT. Transactions are capped at 5000 GEUR per instance, and GSPartners imposes a 2.5% fee on all such conversions. This system effectively adds a mandatory step and cost for users trying to access their funds.
Steven London Morris, a California-based GSPartners downline to CEO Dalcoe, hosted the webinar introducing GEUR. His presentation outlined the new token's mechanics to existing participants.
Recent website analytics indicate a surge in GSPartners' recruitment of US investors over the past year. These new recruits are now seeking to withdraw their investments, coinciding with the continued decline of LYS and prior unsuccessful efforts to artificially inflate G999's market price. The GEUR launch appears timed to manage this increased pressure for withdrawals.
GSPartners has simultaneously expanded its reach into new territories. SimilarWeb data shows significant user traffic from Cuba, South Africa, and Switzerland. The company's presence in South Africa marks a resurgence after a previous collapse in that region.
The company's internal GEUR token now functions as a mandatory intermediary for affiliates attempting to realize any returns from their "metaverse certificate" investments, further complicating the process of fund recovery for investors.