I just wanna know if you lend in lala is there colateral or what?
Yes if someone will lend or borrow money from Lala wallet, it is included in the terms and condition that it have collateral if you unable to payback the money you lend. I read that information in their telegram because someone is already asked it.
what would be the collateral if they are migrants and unbanked?? to know that they dont have properties to be a collateral...
Actually based on their whitepaper, it is stated there that in crypto asset backed loans it has a prepayment penalties for the user who did not able to meet the due date of the prepayment while in micro lending for small community projects, it said that no collateral but it has competitive interest rate. Regarding to what kind of collateral, they did not mention it on their whitepaper, maybe we should ask it on their telegram.
Collateral is necessary. Otherwise, it is not binding for the behavior that can not normally repay the maturing funds, and can not achieve good risk control. So this project is very difficult to succeed.