On 22 February 2018, the sole developer of LoanOrLease (LOL) decided to shut down the project and take everything offline without informing anyone. By then, he had been missing in action for nearly 2 weeks. Perhaps he expected the project to die a natural death in his absence but the rest of the LOL team stuck with the project and the community, refusing to abandon ship when the going got tough.
The team and community were in the midst of discussing the possibility of a reboot to somehow salvage the project when the LOL developer pulled the plug. The LoanOrLease website, social media sites, and discord channel went offline without any warning, effectively cutting off all communication channels between the LOL community.
That should have been the end of LoanOrLease and the LOL developer was probably hoping he could nip things in the bud by cutting everyone off. But the LOL community has regrouped, and after much discussion, it was decided to reboot and rebrand.
A new coin Zenzo (LOLZ), which means "gradual increase" in Japanese, will be created on a brand new blockchain and will continue in the spirit of LOL as a decentralised lending platform but under new leadership and with greater transparency. All LoanOrLease holders have up til 4 March 2018 to register for the swap to the new coin.
To register for the coin swap, existing LoanOrLease holders will need to join the Zenzo discord channel and direct message @Yuurinbee or @Bouli; if you speak Japanese, please direct message Hive account@liray-unendlich. These are the only LOLZ team members handling the coin swap. Their names will be highlighted in purple.
For more information on Zenzo (LOLZ) and the coin swap, please refer to the links at the top of the article. If you know of anyone stuck holding LoanOrLease coins, please pass on the message regarding the coin swap which will close on 5 March 2018.
. These are the only LOLZ team members handling the coin swap. Their names will be highlighted in purple.
