Seems like it is a way to share Bitcoins and the service takes 10% fee?
But what exactly is the value add? Some kind of marketing?
I don't want to disparage a new entry into the Bitcoin scene off the bat, but do read the details:
Step 1 - get referred by someone to the site with a code
Step 2 - pay to sign up (presumably, the amount determined by your referrer)
Step 3 - give out referral codes to other people
Step 4 - get 90% of all referrals' coins, you pick the entry amount
That's how it works according to the home page so.... well, I won't use any labels. It is what it is.