Laya Lending, sometimes known by the alternative name of Project Laya, is a cryptocurrency-based lending platform that will provide 110% ROI in the event that it becomes a reality. The Platform itself revolves around a proprietary crypto asset, the AYA token, which has recently completed its ICO.
The Laya Lending Team & Company
There is hardly any information whatsoever about Laya Lending’s development team, the company behind the project, or anything else. The only data we’ve been able to gather in any way comes from an old white paper dated December 2017 that provides a limited overview of Project Laya, but the truth is that the information this white paper reveals is next to worthless.
In fact, according to this white paper, the “Chief Visionary Officer” for Laya Lending is introduced only as “Andre U.”, a network marketing entrepreneur who supposedly founded his own IT business after graduating from a nameless “business college” located in Germany. This is, of course, simply not enough information to get a positive identification.
The only other information of interest revealed about the Laya Lending company is that it is, supposedly, headquartered in Hong Kong. With no specific address given, however, it’s impossible to verify this either.
The Laya Lending Platform
Laya Lending is built using the Ethereum blockchain, relying on the ERC20 standard to create its proprietary AYA token. The token is to be used to power a lending platform, and lenders will be entitled to 110% ROI upon maturation of their loan.
Ostensibly, this must mean that borrowers can access these AYA tokens, providing that they repay their loans plus 10% interest. However, there are no details available regarding the mechanics of this lending other than that AYA tokens will be changing hands.
Additional facets of this platform are also in the planning stages, according to the Project Laya white paper. These include a mobile app that facilitates fee-free transfers of AYA and fiat cash between members, a blockchain training and education project that will be physically based in the Philippines, and plans to have AYA tokens accepted by online and brick-and-mortar retail establishments.
Laya Lending ICO Details
The Laya Lending ICO, according to the white paper, began on January 8 2018 and ran for four weeks. Price per token began at $0.80 USD and increased incrementally to $1.40 per coin by the end of the ICO.
Strangely, while AYA is an Ethereum-based ERC20 coin, Laya Lending only accepted Bitcoin from those interested in purchasing their token.
Verdict – Is Laya Lending Project A Worthy Investment?
We would be surprised if Laya Lending survives the next few months, let alone the entire year.
Let’s be brutally honest — there’s nothing about Laya Lending Project that looks good, or legitimate. The lack of any real detail in the company white paper regarding how the Project Laya lending platform will work is just the tip of the iceberg, as the distinct lack of any sort of information regarding the team behind the project is highly concerning.
Sadly, providing a completely unhelpful and vague biography for a “chief visionary officer” that doesn’t identify him by full name or list any actual credentials is not something that creates feelings of trust or confidence in a potential investor. We know nothing about this “Andre U.” by design — choosing to include him in the white paper at such a minimal level is as effective as leaving him off completely.
Why the Laya Lending team decided to obfuscate their identities in such a manner is a complete mystery. However, it makes us feel as if there’s obviously something untoward going on, making us suspect that this “Andre U.” created Laya Lending Project as a method for collecting Bitcoin from clueless investors and providing them with what is essentially a worthless ERC20 altcoin in exchange.
Promises don’t make for good investment. Laya Lending seems to be nothing more than thin air.