Launched in 2017, DasCoin was a multilevel marketing (MLM) company. Investors in DasCoin did so through DasCoin’s NetLeaders. The concept of NetLeaders was to spread the news about DasCoin to influence more people to join its network and secure their own NetLeaders licenses, ranging from anywhere between €100 to €25,000. These license subscription fees were paid using fiat currency. For investors, their licenses were their entry point, and the higher their investment, the more cycles they were able to get to increase the amount of DasCoins they could earn.
DasCoin was a convertible store of value unit at the center of the DasEcosystem. A DasCoin was produced and distributed in exchange for Cycles that were submitted to DasNet. These DasCoins were not “mined,” but were “minted." The DasNet was the entire high-speed node where the DasEcosystem existed, while the DasEcosystem was DasCoin’s whole network of services powered by the digital currency, DasCoin. Its ecosystem included e-wallet and DasFinancial services (their financial institution), DasExchange, DasPay, and a network of partnering merchants.
In 2017, The Office of Competition and Consumer Protection (UOKiK) began investigating DasCoin’s NetLeaders. The criminal investigation was concluded on December 14th, 2019. UOKiK’s decision permanently banned Net Leaders, DasCoin, and CL Singapore Pte. Ltd. from operating in Poland. Net Leaders started in 2016 as Coin Leaders, headed up by John Pretto. The company was used to promote DasCoin. Both Net Leaders and DasCoin operated as a clone of the OneCoin Ponzi scheme. In December 2017, UOKiK published a warning against DasCoin investment, and an official criminal investigation into Net Leaders and DasCoin was announced in October 2018. At the end of October, Polish authorities seized $11.6 million traceable to Net Leaders and DasCoin. Net Leaders changed its name to Excelz the next month and the venture was abandoned around April 2019. DasCoin collapsed a month after.