Analysis News

Layer (LRX) Protocol for the Growth of Sharing Economy

Layer is the decentralized reputation, incentive, and payments protocol for the global sharing economy, built on the blockchain. Layer protocol aims on growth of sharing economy. It is stated that sharing economy such as carshare, rideshare, bikeshare, and vacation rental, is ready to poise $40B in revenue by 2020. Lot of global companies are now depends on user’s behavior. And it has no outer, objective valuation. It’s clear now that sharing economy has changed people’s relationship with the concept of ownership. But to date the measure of a consumer’s responsibility is credit score, which is revealed only in very limited circumstances (banking, finance). That means that sharing economy companies have no tools to minimize their risks from irresponsible customers.

Layer will change that. The Layer Protocol is pretending to be such an instrument.

 

Idea

Layer is a protocol built on the blockchain that gives sharing economy platforms and their users a universal, decentralized reputation system. Layer Protocol will create a borderless reputation and incentive system to unify sharing economy companies around the world. Such reputation system enables sharing economy providers to contribute to and pull ratings of borrowers.

Token LRX provides the economic incentive for computation of complex reputation scores (by master nodes), encourages adoption of the protocol, and drives community governance.

It’s important that Layer Protocol is designed to be integrated into existing platforms. It is partner with Origin Protocol (it’s founders are Advisors) – a platform to enable developers to build any sharing economy marketplace with one user pool. BeeToken (decentralized Airbnb), Propy (home buying/selling App) and many others are building on Origin.

Partners

Layer’s first partner is Spin. It seems, Spin is more than a partner, may be – investor or even developer. Spin is big player on the market. Sharing platform Spin currently operates in 18 cities in the U.S. , on 50 markets in North America, with 30 thousands vehicles, e-bikes and e-scooters. It have serviced over 1 million rides. Spin will adopt Layer as its reputation, rewards and payment system. Layer’s partnership with Spin will probably make Layer the most used blockchain protocol in the sharing economy. So Layer Protocol will have user base to help aid adoption. And token LRX will be used by Spin customers most likely. Layer has also partnered up with Quantstamp and INSTAR .

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Investors

Significant investors are interested in the project.

Dmitry Grishin – co founder of Russia’s leading internet company Mail.ru and investment fund Grishin Robotics.

And ChinaRock Capital Management, a Silicon Valley cross-border fund, experienced blockchain investor.

Tokenomiks

Ticker: LRX

Token Type: ERC-20

Total Supply: 1,000,000,000

Available in Sale: 40%

Market Cap: $37,500,000

Hard Cap: $15,000,000

Private sale 2 tiers:

Tier 1 $10,000,000 at 30% bonus, 3 month lockup on bonus

Tier 2 $2,500,000 at 20% bonus, 3 month lockup on bonus

Public sale $2,500,000

Whitelist: TBA

Public Sale Live: TBA, expected Q3-Q4 2018

Token price of private sale: 1 LRX = $0.0375 (Coinstelegram Fund reports)

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Roadmap

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Team

Euwyn Poon- entrepreneur, lawyer and software engineer who has been involved in the blockchain industry for 5 years. In 2014, he co-founded Delta, one of the first projects to offer interest-bearing Bitcoin accounts, which was backed by Y Combinator, Initialized Capital and Winklevoss Capital. He has been featured on business media – Bloomberg, Wall Street Journal, New York Times, Forbes, Vice, CNBC and Fox Business News.

Derrick Ko, growth product manager at Lyft, Pivotal, Microsoft

Zaizhuang Cheng, engineer manager  at Disqus

Benny Wong, head of engineering at  Envoy, Fitbit, Samsung.

Advisors

Advisors with blockchain experience, investing background and founders of Origin Protocol:

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Conclusions

The idea, partners and investors are the three main advantages of the project. Team is good enough, with cool history connected with known brands.

But there is still no Whitepaper. Not to mention demo or MVP.  (Whitepaper appeared on 22th of May – Coinstelegram Fund)

The rebranding from Pin Protocol also seems doubtful.

This is not a negative, but rather a warning about the risks of possible investors. Will there be enough forces and resources to develop the project as long as the investment from crowdfunding is coming? Although the authors have great ambitions. For example, the global coverage of the sharing economy is scheduled for Q4 2018.

In any case, an instrument for the sharing economy development segment is proposed. And it is in demand.

Coinstelegram Fund Rating: Pre-High