For this edition of Vestorportal.com Spotlight Omega, founder of Louverture Finance, talked about himself, his learnings from LVT1.0 and how he thinks LVT2.0 will change everything.
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LVT has a new contract, you can find it under 'How do you buy LVT?'
Spotlight
Tell us a little bit about yourself - who are you and what is your background?
Hey, I am Omega.
I’m a Louver, I drink milk, I like pizza, and I am the CEO of Louverture.
Through my network, I have been involved in DeFi consultancy for a wide variety of crypto projects over the past couple years. I have also been involved in much more, but I can’t tell you… 👀
I train, and I fight. I believe one should train themselves both intellectually and physically.
What is Louverture?
Louverture Finance is a DeFi-as-a-Service (DaaS) protocol that’s built on the Avalanche Network and is one of the first providers of Nodes-as-a-Service (NaaS). Louverture introduced and popularised ‘compounding’ - a feature that has heavily influenced a variety of other node protocols.
Our version 2.0: Rise, revolutionises the Avalanche network with true RNG (first of a kind), alongside the introduction of passive income generating NFTs to replace our existing ‘node’ ecosystem.
How did you come up with the idea of Louverture?
We’re a team of dreamers - we enjoy ideating, and toying around with completely new and bold concepts. I feel like our ‘out-there’ approach helps us to constantly innovate and introduce exciting features for our own protocol as well as a forge a pathway for similar competing protocols.
The concept behind LVT2.0 was definitely a team effort; we spent weeks brainstorming, and discussing ideas as a team. We knew we needed to come up with something completely new, and both exciting and engaging - especially after the ‘kerfuffle’ (drama surrounding a couple disgruntled employees).
How many people are on the Louverture team and what are their tasks?
Our team is over 30 people strong, spread out across five core teams, technology, product, treasury, communications, and marketing.
Technology encapsulates all things development; both front-end and back-end tasks as well as any developer operations.
Product is a broad arm that captures product design and development, including UI and UX - in addition to the creative arm that develops graphics, animations, and videography.
Treasury consists of our venture capital and investment specialists, including DeFi specialists and yield farmers.
Communications handles public relations, and moderation.
Marketing consists of marketing strategists for both organic and paid traffic and engagement.
Why did you choose to build on Avalanche?
We believe in the future of Avalanche as a layer 1. Its speed and affordable gas fees make it attractive to both developers and investors.
What do the Tokenomics of Louverture look like?
Our initial, and total supply has remained at 1B for LVT2.0. You can review the tokenomics in our latest whitepaper.
Are there any taxes for buying or selling LVT?
There are no taxes on buying or selling LVT.
Are there any taxes for creating or compounding Louverture nodes?
There are also no taxes on minting (creating) any of our NFTs.
We have introduced claim, and compound tax across the board:
- There will be a 10% claim tax, and a 5% compound tax on all Black Holes.
- There will be a 5% claim tax, and a 5% compound tax on all Elements.
- There will be a 8% claim tax, and a 5% compound tax on all Orbs.
What are your plans to achieve long term sustainability?
We designed LVT2.0 to be a sustainable-first protocol moving forward. We don’t promise over-the-top reward rates and APRs simply because this is not sustainable - this is evident in recent history with various protocols collapsing or reducing their reward rates.
Could you tell us about your treasury-managing strategy?
We’ve documented our investment strategy in recent Medium article here.
Overall, our goal is to increase our treasury holdings through strategic investments. We will do so through venture capital investments, yield farming strategies, as well as utilising our active trading wallet to capitalise on time-bound marketing information.
Why is it necessary for Louverture to migrate to LVT2.0?
It’s unfortunate, but the LVT1.0 smart contract was still under control by a rogue ex-developer. As we do not have control, a contract upgrade was out of the question so we had to develop and deploy a new contract.
Nevertheless, the concept for LVT2.0 expanded and grew so quickly - even with the control of the LVT1.0 smart contract - it would have been wiser to develop from the ground up and ensure the concept was fully realised, and functioned the way it is intended to function.
Could you give a brief explanation what differentiates LVT1.0 from LVT2.0?
Almost everything has changed, bar the name.
We have shifted from the ‘nodes’ to tradable NFTs, and have implemented gamification across the board - gamification made possible as we are the first to implement true RNG on the Avalanche network. There are three categories of NFTs, Black Holes, Elements and Orbs - Orbs are the most difficult to create, but can reward up to 1.45% ROI per day.
Are there any new products or tools Louverture might offer in the future?
We have plans to build our own marketplace for Louverture NFTs. We have other projects in the pipeline, milk 🥛 may or may not be involved. Stay tuned.
Will the yields that people get from their NFTs on LVT2.0 stay the same or will they change?
We have introduced tiered yields based on the NFT categories. Black Holes generate a return of 0.5% daily, Elements return 0.6% daily and Orbs can return up to 1.45% daily depending on rarity.
How would you describe the core values of Louverture?
We are innovators, and aspire to be leaders and an inspiration to others in the space. Our values revolve around providing transparency, and providing access to a transparent, engaging and rewarding protocol that has no barrier to entry.
However; I personally value loyalty, kindness, and hard work. These values are ingrained into me as a person, and values I’d like to instil in the organisation and team.
Since Louverture 1.0 had its problems and struggles - Are there any key takeaways for you regarding your future management of Louverture?
Transparency, communication, and trust.
Our experience with the rogue developers have taught us that we need to vet our contacts, and exchange contracts. We need to be transparent with our community - being a united front has, and will continue to make us stronger.
At the end of the day, I think our past difficulties and hurdles have only made our team stronger, more motivated and driven - I believe LVT2.0 is a testament to that.
A final note before I sign off I believe in family above all - if you profit well off your investment in Louverture, or any investment for that matter, make sure you treat your family.
Sincerely, Omega
How do you buy LVT?
You can buy LVT on Trader Joe XYZ and store it on your MetaMask.
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LVT has a new contract address: 0xD641E62525e830e98Cb9D7D033a538A1f092ff34
How do you buy AVAX?
One of the easiest ways of buying AVAX is by using exchanges like Kucoin, Coinbase or Binance.
If you do not want to use a centralized exchange you can use a decentralized exchange.