Lossless

What is Lossless Protocol?

Lossless Protocol is a comprehensive solution crafted by a team of experienced engineers, finance professionals, DeFi experts, and white-hat hackers, dedicated to making the crypto space accessible and secure. At its core, Lossless introduces a Lossless protocol for hack detection and prevention, alongside a suite of products designed to enhance security in blockchain technologies. These products include:

• Token Relaunch Toolkit: Equips Lossless security measures to active tokens effortlessly.
• Vault Protection: An advanced security tool tailored for project owners.
• Token Minter: A Lossless wrapped ERC-20 token generator.
• Aegis: Smart contract monitoring system.

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Recent Video Interview

Main points of the interview:

• Lossless protocol can freeze and retrieve stolen tokens.
• Introduced Aegis for real-time threat monitoring and incident reporting.
• Achieved fund retrieval from significant incidents, such as Cream Finance and Horizon Bridge.
• Emphasizes education and adoption as key challenges.
• Vision includes mainstream security solutions for the evolving crypto ecosystem.

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Vision and Products

As a team, they envision a safer environment for DeFi markets, where everyone can transact quickly with minimal risk. Through their Lossless protocol and accompanying products, they aim to:

• Provide a safer environment for everyone to employ their money with reduced risk.
• Increase the adoption of DeFi markets by fostering trust and security.

The Lossless protocol functions at its core as a piece of code inserted by token creators into their tokens, enabling the protocol to freeze any fraudulent transaction based on predefined fraud identification parameters. their solution offers a two-step process for recovering stolen funds:

• Urgent/Instant Freezing: Community and technology-based freezing initiated immediately after a hack, rewarding those who identify and freeze the transaction.
• Longer/Permanent Freezing: Occurs after verification by the Lossless committee, company, and token creator, facilitating the reversal of fraudulent transactions.

How Does It Work?

The Lossless protocol operates on two levels of loss mitigation. Firstly, it incorporates a proof-of-stake hack finding platform, enabling community members to identify and freeze fraudulent transactions swiftly. Secondly, it offers an intuitive dashboard for manual oversight and reporting, along with bot-friendly APIs for the development of community-created hack-spotting bots. To incentivize participation and innovation, Lossless implements a transparent reward system.

Additionally, Lossless employs a three-party decision-making structure, including the Token Creator, Lossless Company, and Lossless Committee. The committee, composed of investors holding a significant share of LSS tokens and trusted public figures, ensures impartial decision-making regarding frozen transactions. This structure enhances transparency and fosters confidence in the protocol's governance processes. Data Element The data analyst team at Lossless develops hack-spotting mechanisms to automatically freeze transactions, open-sourced for community contribution. A winner-takes-all incentive fosters continuous improvement, ensuring the system's efficiency evolves over time.

Benefits Of Using Lossless

• A win-win for token creators with no upfront costs.
• Establishment of Lossless as the hack protection "standard," enhancing trust for token holders.
• Increased overall security for DeFi participants, crucial for global DeFi adoption.

LSS Tokens

The LSS token is essential within the Lossless ecosystem, enabling various functions such as finders staking, finders fees, governance participation, promotion, referrals, and early access. Holders of LSS tokens can stake them to participate in finding and reporting fraudulent transactions, earning fees in return. Additionally, LSS tokens provide governance rights, allowing holders to influence protocol decisions. Furthermore, they serve as a means of promotion and referral rewards, incentivizing community engagement and adoption. Lastly, LSS tokens grant holders early access to new features and insights within the Lossless platform. Vault and Treasury Protection Lossless introduces Vault and Treasury Protection to safeguard project owners' funds, offering tailored protection strategies for treasury wallets and liquidity pools.

Lossless Wrapped Protection

The Lossless Wrapped Tokens provide an accessible way to integrate Lossless Core protocol protection into any ERC20 token, enhancing security without the need for relaunching or rewriting existing smart contracts.

Team Background and Partners

The team at Lossless comprises experienced cybersecurity specialists, blockchain engineers, finance professionals, and white-hat hackers, all dedicated to mitigating the financial impact of exploits and malicious cyber activity. Led by Project Lead Vygandas Masilionis, Technology Lead Domantas Pelaitis, Business Development Lead Dominykas van Otterlo, Marketing Lead Kleanthi Vongli, and Product Manager Jan Zibelnik, the team collaborates closely to develop and implement innovative solutions.

Additional team members include Ignacio Freire, Luciano Lupo, Arūnas Žežickas, Anastasiia Binas, and Ivo, each contributing their expertise in technology and quality assurance to ensure the success and security of the Lossless platform.

Lossless partners with LaunchX, Uno Re, PolkaFoundry, NewsCrypto, DaoMaker, Master Ventures, x21, Magnius Capital, Hacken, Bounce...

Project Development

Lossless introduces the groundbreaking Lossless Cyber Cell initiative, a pioneering effort to fortify the community's defenses against cyber threats in the rapidly evolving digital security landscape. This initiative underscores Lossless's commitment to community well-being and emphasizes the importance of vigilance in the dynamic Web3 environment. Central to the initiative is the utilization of unique, non-transferable NFTs as digital markers, assigned to the wallets of identified hackers, serving as enduring symbols of the risks they pose. Monitored by Aegis, these NFTs aim to instill a permanent sense of caution within the community, enhancing collective defenses against potential attacks.

Aegis plays a crucial role in real-time tracking of tagged wallets and swift dissemination of alerts through dedicated Telegram and Discord channels, ensuring the community remains informed and alert. To further engage the community, Lossless introduces an exclusive collection of tradable NFTs, each reflecting specific hacking incidents and transforming them into captivating digital narratives. This creative approach adds an artistic dimension to the initiative while supporting the sustainability of the alert system.

Lossless Price Analysis

As of November 25 2024 Lossless has a marketcap of $4.8M. This is {{percentagefromath}} from its all time high of $2.61. In terms of its tokenomics, there's a total supply of 100M with 69% currently outstanding. Keep in mind Lossless has a fully diluted value of $7M which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.