Time flies when you’re having fun! The team here at Lossless has been having a blast preparing for the upcoming events, and we can’t believe they’re all almost about to happen.
We’re sure everyone is equally excited for the opportunity to fill your bags with $LSS tokens! Between the DAO Maker, PAID Ignition, and Gate.io public sales, we’ll be raising $445,000 in $LSS to the community.
Additionally, we’ll be having a BurningDrop where tokens will be distributed to the KuCoin community. Everyone gets a piece of the action!
Here’s a quick update on timing for each event:
- Kucoin BurningDrop: Begins on the 28th of May (10:00am UTC time)
- DAO Maker SHO: Begins on the 28th of May (12:00pm UTC time)
- Gate Startup Initial Offering: Begins on the 30th of May (10:00am UTC time)
- PAID Ignition IDO: Begins on the 31st of May (9:00am UTC time)
For those who may have missed our last few posts or just need a refresher, below are the key highlights surrounding our project along with a final update for the public sales.
Lossless Overview
We’re creating a DeFi hack mitigation tool that will be designed to halt fraudulent transactions via different fraud identification parameters. Our code is implemented into specific tokens by their creators to ensure that our technology can function and properly protect the token’s address.
Our system is incentive-based and meant to drive motivation and innovation. Users will initially spot a potential hack and notify our project’s committee, which then validates whether the hack is legitimate and a threat. Once verified, the transaction will be frozen and eventually returned to the original address. Rewards are given to users who identify and report the fraudulent transaction.
Our modern and intuitive dashboard interface allows users to view transactions from a birds eye view and report suspicious hacks, so it’s easier than ever to manage.
Gate.io Startup Initial Offering and Kucoin BurningDrop
We have been working tirelessly to make the Lossless dream a reality by laying a solid foundation for our project as we head to the Gate.io SHO. We have achieved some major milestones in our roadmap and the upcoming SHO is the latest development in a series of positive events.
The Startup Initial Offering on Gate.io will provide investors with the opportunity to make an initial investment in our project. From this sale alone, a total of 650,000 $LSS will be available to purchase at a price of $0.077 allowing investors to get in early on board our project
Participants can use USDG and DAO as the accepted payment currencies and are required to lock up DAO tokens for a period of 15 days. The individual cap for this offering is 2,000 DAO per eligible participant.
The Lossless BurningDrop will give Kucoin users an opportunity to mine $LSS by staking USDT/KCS/ETH assets.
$50,000 worth of $LSS tokens will be available from both of these events, so that’s $100,000 in total!
Make sure to check out our Medium announcements for the Gate.io and KuCoin events to view more information!
IDO Details
Please make sure to check out the DAO Maker and PAID Ignition pages, where you’ll be able to view all of the critical information.
Winners lists have been finalized, and all eligible participants should have received an email communication regarding final steps and the KYC verification process.
Make sure to have enough ETH in your Ethereum wallet before the sale for the transaction and gas fees. We recommend using MetaMask, as it is compatible with both DAO Maker and PAID Ignition.
Below please find additional details pertaining to each platform:
- Initial Market Cap: $847,000
- Vesting: 20% at listing followed by 20% quarterly for one year
- Contribution Cap: $1,000 for both platforms
- DAO Maker SHO Total Raise: $195,000 worth of $LSS tokens at a price of $0.077
- PAID Ignition IDO Total Raise: $200,000 worth of $LSS tokens at a price of $0.077
Leading up to the IDO, there may be scammers out there pretending to represent our team and project. All valid social media channels and web pages pertaining to our project are listed below, so please make sure to be on your toes and double-check everything! We will never ask you for funds.
You can read up on DAO Maker and PAID Ignition before the event starts.
Good luck to all of those who were selected and will be participating!
$LSS Tokenomics
$LSS is our platform’s governance token, which is distributed to users for identifying dangerous hacks and is used for voting, proposals, and more. Committee members are elected based on their trustworthiness and for having a specific large holding of $LSS tokens, incentivizing them to collect more in order to harness decision-making power.
When a fraudulent transaction is frozen and stopped, 7% of the amount will be provided to Lossless as revenue and distributed as follows:
- 2% is paid to the finder
- 2% is distributed for $LSS stakers
- 2% is distributed to our committee
- 1% is kept with our company
We believe that this system will provide a strong use case for the token and drive higher adoption.
See the tokenomics in detail here.
About Lossless
Lossless is the world’s first DeFi hack mitigation tool for token creators. Through various methods of fraud identification, our protocol halts counterfeit transactions and automatically reverses any stolen tokens back to the original owner.
With our stake-based reward system, the community is encouraged to actively continue to explore ways to detect hackers and fake transactions. Our sleek and fluid dashboard interface also allows users to view transactions at a birds eye view.
To learn more about our project and join the community, follow us on our website and social media platforms below:
