You are interested in investing in Cryptocoin but haven’t been able to, due to low funds. It makes you feel left out. For a while now you and your family have had limited access to the most basic services which include financial services.
You have been excluded from free movement and denied your basic rights in the past. Known as the “unbanked and undeserved”, you feel alone in the world. Well, you are not, there are 2.4 billion people in the world just like you. And guess what? LALA world was created just for you.
You have gotten a little confused. Relax, I’ll break it down for you.
WHAT IS LALA WORLD
LALA World is a project which means happy. It represents financial freedom, accessibility and happiness to the less privileged population of the world. These are the people often ignored by the financiers because they supposedly are not worth the risk. Basically, it’s a project for the migrants and the unbanked families.
Not only does LALA World favor the 2.4 billion poor people worldwide, it is also perfect for the banks financial institutions, including the local financiers that do not invest in digital currencies due to;
- Inability to adequately assess price risks.
- Unreliable identification system
- Absence of a trustworthy financial data
- Unpredictable legal system
- Unreliable intermediaries
- Zero credit history
LALA World addresses these issues by interacting with governmental and other non-governmental organizations. They are also including the incorporation of blockchain, biometrics, and distributed ledger technology.
LALA Tokens : The Creation, Reserves and Breakdown
The 150,000 ETH that is raised from the ICO would be used for the further expansion and development of the project. Apart from the 150 million LALA Tokens distributed during the pre-ICO and ICO, LALA will create an additional 100 Million Tokens.
That’s a total of 250 Million LALA Tokens to be distributed as follows;
- 60% of the Total Tokens is expected to be purchased during the pre-ICO and the ICO period.
- LALA founders, early investors, technology teams, and employees of LALA are keeping fifteen percent of the token. Part of it will be locked in a pro-rata smart contract for six months.
- Ten percent of the Tokens created during the ICO will go to advisors, consultants and community developers. Part of it will be locked in a pro-rata smart contract for six months.
- The reserve, which can be used for future token sale is expected to be credited with fifteen percent of the Total Tokens.
According to the whitepaper released, the reserved tokens can be dedicated to other projects which will promote the growth of LALA world. Trading should commence in the first quarter of 2018, just after the distribution of LALA tokens.
THE LALA ECOSYSTEM
The Ecosystem is a platform developed by LALA to carry the unbanked families and the migrants along. They get access to the Ecosystem by creating a LALA wallet. After this, a LALA ID would be issued.
Only after completing this process will you have access to the numerous services provided by LALA. These include;
1. LALA Wallet
The LALA wallet is available in the form of an App. Being the core module of the Ecosystem, it was designed to control all other components of the system. After downloading it, you’ll have access to services such as;
- Sales and purchase of fiat currency
- Sales and purchase of cryptocurrencies
- Payment of bills
- Transfer of money
- Other traditional banking transactions
Although the app makes use of LALA tokens in transactions, you’ll also have access to an inbuilt exchange bureau where you can convert digital currencies format. Regular use of the app is rewarded. You earn you a loyalty bonus after a while. The wallet is fast gaining global acceptance through the collaboration of LALA with numerous organizations.
2. LALA ID
The major problem suffered by most unbanked is their inability to prove their identity. LALA ID solves that problem. The project provides you with a unique digital identity that is accepted universally. It even employed the use of security features such as biometrics to further enhance its validity.
3. LALA Transfers
After setting up your wallet and ID, you are ready to make LALA transfers. Those are the only pre-requisite. LALA transfers are pretty straight-forward. You can transfer tokens to other users, who can withdraw it in form of fiat currency or any preferred cryptocurrency. Of course, you would be required to pay an affordable transfer fee.
4. LALA Lends
Once upon a time, people had easy access to peer-to-peer and micro loans. They were quite easy to access. However, in this age, that has become difficult. LALA is going to fix that through their lending service. You’ll have access to in-app p2p, community-based credit, and micro loans.
5. LALA Card
In addition to the app, you can order a physical LALA card too. You can use the card in your app when running the wallet.
6. LALA Kit
There is a complete LALA Kit developed by the company to make the process of setting up your LALA wallet easier. The Kit include a phone, SIM cards, and other things needed to set up a wallet.
BENEFITS OF BEING A MEMBER OF LALA ECOSYSTEM
There are certain perks of being a being a LALA Token holder. The advantages differ depending on if you are a short-term investor or a long term. Here are some of the them
Appreciation in Price of Tokens
The price appreciation will be enjoyed more by long-term investors. There are other schemes in place to make investment in LALA World enticing. For every investment you make, LALA will invest an equal amount of token into a cause for the poor and deserving.
In addition to this, you (as a long-term investor have an option of voting for any community project or charity they intend to support. The LALA team, including other investors can help successfully execute the project. Basically, you’ll be giving back as much as you are receiving, making money and creating a better life for others. What is better than that?
Enrolment to a Reward Program
LALA wallet is designed in such a way that you receive rewards every step of the way. Example of such is when you update your KYC information, when you refer other users, and through community projects. Also, anytime you help another user, you’ll also be rewarded. This goes to prove that LALA project really supports the unbanked.
Token holders that act as cash top up and cash out points will also be rewarded via GPS tracking. Finally, users that participate in a community project will be rewarded. It’s a program where everyone gets rewarded in the long run.
Discounts When You Use the LALA Wallet
You get a discount every time you use the LALA wallet. This may start as a fixed discount. However, as the Project progresses, that will change. You’ll be entitled to a fixed amount of LALA token for proper KYC and LALA ID verification.
In addition to this, you’ll get free tokens anytime you refer other users to the LALA wallet. There is also a product wise reward program being developed by LALA’s marketing team. The reward program proposes that all LALA token holders get rewarded every time they;
- Reach a number of transaction
- Reach an amount of transaction
- Weekly or monthly sales
- Other exclusive offers on each product
THE LALA WORLD ICO
LALA World intends to make 150 million of its token available for investors.
That figure translates to 150,000 ETH.Which means, you’ll be using 1 ETH to buy 1,000 LALA tokens.
Here is a quick overview of the LALA World ICO.
- The presale was back in November. It happened between 25th and 9th of December 2017.
- After the pre-sale comes a feedback and review period that starts on 16th December and ends on the 31st of the same month.
- The ICO that’s supposed to last one month will start on 5th January 2018 and end on 5thh February 2018.
- Cryptocurrencies such as ETH and BTC are accepted for conversion into LALA World tokens.
Now that you have a rough picture of what the ICO is all about, let’s delve a little deeper.
Bonus
A loyalty bonus will be given for the first 125,000,000 Tokens sold. This is in preparation for a quality ICO. Aside from the ICO, the bonus will also serve the purpose of attracting the attention of cryptocurrency experts and raise funds for promotion.
WRAPPING THINGS UP
LALA’s vision can be broken down into three fundamental parts. These are;
- Include the unbanked financially
- Creating a p2p ecosystem on a distributed network
- Access to all the basic financial services.
While understanding that it’ll take a while for folks to get used the decentralized ecosystem, the LALA team have taken steps to make the transition easy by exploring partnership options.
Not only will this project favor the unbanked population, you’ll be helping the poor and financing various healthcare and education programs via the blockchain. LALA world’s ICO is an Ecosystem designed to connect different users using one cryptocurrency; the LALA token.
Website
Whitepaper
Twitter
Facebook
Telegram
Article written by : https://bitcointalk.org/index.php?action=profile;u=1091429