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Summary
- Lossless adds a security layer to blockchain transactions to prevent malicious exploits and financial loss.
- Features: hack detection, transaction freezing, and fund return to owners.
- $LSS token holders can participate in hack spotting, earn rewards, and stake to freeze fraudulent transactions.
- Founded in Q1 2021 by experts in blockchain, cyber-security, fin-tech, DeFi, and cryptocurrency.
- Goal: prevent and revert all upcoming DeFi hacks to ensure a safe industry.
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Figures:
- 2021: Year Lossless was founded
About Lossless: Empowering a New Era of Decentralized Finance
Lossless introduces an innovative layer of blockchain transaction security, safeguarding projects and their communities from the devastating consequences of malicious exploits and the ensuing financial losses.
The Lossless Protocol offers a robust defense mechanism, empowering users to detect hacks, freeze malicious transactions, and facilitate the restitution of stolen funds to their rightful owners. By holding $LSS tokens, participants can engage in the Lossless hack detection process, earning rewards in the process. Token holders are granted the authority to stake and subsequently freeze suspicious transactions, which are then subject to thorough investigation and evaluation to determine whether a hack has indeed occurred.
In the first quarter of 2021, Lossless was established by a collective of visionary experts, boasting a rich tapestry of expertise in blockchain, cyber-security, fin-tech, DeFi, and cryptocurrency.
The Lossless team is dedicated to preempting and mitigating prospective hacks within the DeFi ecosystem, thereby fostering a secure environment that enables the industry to flourish.