As a leader in Web3 security architecture and exploit mitigation tools, Lossless fosters a more safe and mature DeFi industry, mitigating the financial impact of smart contract exploits and private key theft.
With the company’s expansion and introduction of new products into the space, the team understood that its core product, the first one launched, Lossless Protocol, should become governed in a decentralized manner.
Lossless Protocol utilizes community-driven threat identification tools and a unique stake-based reporting system to identify suspicious transactions, providing real-time protection. All connected to an easy-to-use hack—explorer platform.
Lossless Protocol has also introduced a new, safer token standard into the ecosystem — LERC20 (an advanced version of ERC20). It is designed to reinforce the token security framework, ensuring project creators and their communities have a fail-safe solution against malicious exploits.
What is it?
As the Lossless protocol is an upgradeable product and free to use for any token creator, the team decided it should drive its adoption further and wider to become a mainstream hack mitigation platform and a new, safer token standard for the creators of the future cryptocurrencies.
This newly formed Lossless Governance Forum will help shape the path of Lossless Protocol growth and adoption with the help and support of the community.
Why?
Those who understand and see the need for safer infrastructure for the blockchain space gather with the Lossless community. Supporters share their vision, ideas and are free to introduce them via this forum to apply changes and updates to the Lossless Protocol directly through a DAO mechanism.
About Lossless
Restoring trust in web3 security. Lossless incorporates a new layer of blockchain transaction security, protecting projects and their communities from malicious exploits and the associated financial loss.
Lossless protocol implements an additional layer of blockchain transaction security for ERC-20 standard tokens, mitigating the financial impact of smart contract exploits and private key theft. Lossless protocol utilizes community-driven threat identification tools and a unique stake-based reporting system to identify suspicious transactions, providing real-time protection.
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