Referral campaign is good for growing community in all social media.
The referral program is certainly very good, but I don't like projects where she comes to the fore and all work is to attract new users.
The referral system is very important for the present, I support the project where the referral system is included.
I think all this is superfluous, referral system for the exchange I like, but in general I do not like projects that use referral system, they remind me of pyramids.
The fact that you need to look at the very referral system. In some cases it benefits the project and is for the benefit of investors. But when the system in five levels and the amount of investment that comes to developers equal to 60-70% , it's worth thinking about the fact that the project was a Scam.
You are right, the number of fraudulent projects under this scheme are very much worth 5 times to think and to check everything before to start to invest in new projects.