Development Update: June
Just like every month, welcome to our team’s development update where we share what has happened regarding our progress in the past month. You must’ve noticed from our announcements, news that we share that our team is very active regarding product development so we do have what to cover. Let’s begin!
- Our Core Protocol is now live on three more chains — Polygon, Avalanche, and as of today Fantom. Check out the recent announcement. We are down to one remaining chain — Harmony — and then all six chains that Lossless supports will be covered. If projects from other EVM compatible chains will ask for Lossless security implementation, our deployment on chains will expand.
- The tech team has finished implementing monitoring for the first hack detection pattern. As our announcement has stated, the first version of our oracle will have these features (with additional ones being added with Security Oracle updates):
- The user interface (UI) is currently being worked on — a work in progress. Once we can, we will show you some sneak peeks to display what awaits.
Token Relaunch Toolkit
- The Token Relaunch Toolkit is being developed for projects already established in the market, wanting to implement new security standards in an easier way. All of the user flows are currently being implemented and only minor optimizations are left for the toolkit. This means that this product is the closest one to being launched live. Here are the steps a token owner will have to take:
If you’d like to know more about each and every tool that is live or is about to be launched, here’s a detailed explainer on each one.
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.