It's a pyramid scheme. They are forcing users to trade in their exchange to get their referral reward and that's how they earn money.
Nope, this is not pyramidal schemes. Just a way of promoting his exchange. They will give you some rewards in exchange for using their platform and if they actually pay the promised reward there is nothing shady. the other thing is that it is a very small amount and the high fee will probably eat all of the earnings.
it certainly doesn't pay to do the whole procedure because of the potential $5 profit.
Here is a statement about claiming 888,888 Kickico airdrop
https://support.kickex.com/hc/en-us/articles/360012199739-Unlock-conditions-and-FrozenDrop-detailsBrief instructions to unlock the frozen tokens:
1) You get FrozenDrop (888,888 frozen KickTokens) to your ETH wallet.
2) Register in the KickEX exchange and trade there. With trade volume, you accumulate a commission. For example, with a commission of $1, you can unfreeze KickTokens for $0,5.
3) Tokens are unlocked now. You can sell these unfrozen tokens, cover future commissions partly or up to 100% for trading on the exchange, or spend in the Kick Ecosystem.
you can basically use those tokens to cover the fee when trade on his platform. that's all. He just trying to attract traders to use their exchange.
all this does not seem at all interesting or tempting to me at all but I can't see any fraud there for now. Of course, we need to wait to see how everything will work and whether it is really as they promise.