Official Luart Statement — 5/1

Luart has conducted a thorough internal investigation of such events surrounding the termination of its Strategic Director, Aston Tan. On behalf of the entire community, we apologize for the actions committed by our fellow teammate. From Luart to the community, we sincerely apologize for the oversight of the leadership team.

The leadership team fully realizes that Luart did not have the proper framework to prevent this misconduct. Thus moving forward, the goal is to create more transparency around Luart’s business practices, between project teams and the community. In doing so, we will create a more efficient communication and delegation process within the company so that these mistakes are not repeated by any current or future Luart team members.

Luart Whitelisting:

Regarding whitelisted wallets from the team, you can find our original statement from Friday’s announcement about what went wrong here:

https://luart-io.medium.com/official-luart-statement-65040ce410dc

Luart’s team is composed of ~25 full time staff and part time contract employees (this number fluctuates). We’ve grown rapidly over the past 6 months and have needed many contributors to make this possible. A community member pointed out a list of wallets which have been used consistently on whitelists and public sales of Luart’s partner projects. These wallets can be attributed to the full list of core team members, advisory and treasury within Luart:

  • CEO

Design Team:

  • UX/UI Designer
  • Social Media Designer
  • 2D/3D Designer

Strategy Team:

  • Strategy and Partnership Director (released on 29th of April)
  • NFT Market Analyst

Marketing Team:

  • Marketing Strategist
  • Marketing Manager
  • Content Director
  • Creative Director
  • Social Media Specialist
  • Community Manager
  • YouTube Host
  • Digital Marketing Specialist

Development Team:

  • CTO
  • Lead Developer
  • Fullstack Developer
  • Fullstack Developer
  • Frontend Developer
  • Blockchain Developer
  • Blockchain Developer
  • Contract Developer
  • Tester

Legal & Finance Department

  • Legal representative
  • Financial analyst

Luart Advisors:

  • 3 wallets in total

Treasury Wallets (3 in total):

  • Treasury Wallets for Luart Loot boxes

In the future, this list will be limited to include strictly only core team members and treasury wallets. As stated previously, it will be decided by an NFT project’s leadership if the Luart team addresses are included or not in the whitelisting process and will be disclosed by Luart if done so. Alongside this new framework, every NFT project minting on Luart will have their whitelists published on GitHub.

Regarding the handling of whitelists: Luart handles whitelists manually, with the developers having to add all whitelisted addresses some time before mint. This is common practice amongst NFT marketplaces on Terra. Moving forward, we will develop a solution that no longer requires manual entry of whitelists for mints, and we are open to community suggestions for improvements. In the meantime, we will create a tighter framework between communication and submission of whitelists.

Development Path of Luart

Although the road ahead for Luart is long, the team fully intends to deliver on its promises and implement improvements to the platform based on feedback from the community and our partners.

We mentioned in our previous statement certain ongoing development implementations which our team is working full speed on — including a solution to bot prevention during mints. We recently implemented a solution to address the community’s concerns about low bids on Luart. Bids placed 50% below the listing price will no longer be allowed to be placed. We will continue to test this solution and receive proper feedback to consider other options as well.

We’ve begun developing solutions to minimize Luart’s in the minting process for NFT projects in the most effective way possible. Here are the steps we have taken so far:

  1. Currently we are using Terrarand, which is a tool to randomize the NFTs. However, we are in talks with Chainlink VRF in order to improve randomization.
  2. Self Minter — We are working on the solution which will enable projects to self setup of NFT launches.
  3. DAO — we will continue to push proposals forward from the Luart Team that address direct decisions related to the platform. The goal is to have a full decentralized DAO with a thriving community that will present proposals that will support the growth of Luart and the NFT ecosystem which it supports. As of now, the Luart team has not participated in recent DAO votes and will not in the future.

The goal for Luart is to continue to move as close as we can to a decentralized NFT platform, while still delivering the services Luart provides to NFT collections to ensure their success at mint and thereafter.

We will continue to remain diligent throughout this process of building the best NFT platform we can deliver.

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