Lossless Completes $2.245M Private Sale Round
The team here at Lossless is proud of the amazing amount of traction we’ve received lately, with tons of community and investor interest. We couldn’t be more excited, as this means that there are more opportunities for all of us!
We have some more big news — we’re thrilled to announce that we’ve brought aboard some of the best strategic investors on the planet! A total of $2.245M was raised through a private sale round led by DAO Maker. We are beyond grateful for the direct interest in our project, and together with these strategic investors we will be able to successfully navigate the startup phase and prepare Lossless for rapid growth.
Our brand new investors are made up of the following institutions, projects, and individuals:
- DAO Maker
- Master Ventures
- Magnus Capital
- Chandler Song and Ryan Fang (founders of ANKR and Bounce)
We’ve chosen to work with these investors, as they harness the potential to increase the $LSS token’s presence and credibility by working with audit companies and launchpads. We’ve never been more confident in the future of our ecosystem!
We’d like to welcome them all to the Lossless family — everybody give them a virtual round of applause!
Our ultimate goal has always been to create the perfect tool that can make crypto and DeFi safe from hacks and fraudulent transactions — it’s a tall order, but we know that our team can properly execute.
We’re confident that our strategic investors are the perfect fit for the Lossless team. They share a similar mindset and vision to ours when it comes to how we’re trying to create a safe and secure digital asset industry.
Hassan Sheikh, the Chief Marketing Officer at DAO Maker, commented;
“DeFi is pushing money on-chain, innovation in the space is making smart contracts more complex and prone to threats, and governments are becoming more aggressive towards AML compliance.
All of these problems are currently targeted with reactive measures and archaic methods of enforcement which are a misfit for the era of digital money: chain analysis is deployed to track offenders and the legal system is deployed to enforce either justice or compliance. The result is on-chain fraud and theft remains rampant and money laundering is rarely thwarted.
Lossless is the first solution of preemptive security and compliance. Rather than waiting to enforce justice or compliance after a transgression has been completed, Lossless technology acts as an immediate safeguard as soon as an attempt is made to misdo anyone’s funds. Hack transactions are frozen, tokens held by sanctioned wallets are void, and any false flags are appropriated with community governance, who’s own token holdings are at stake for any misjudgement they deploy.
We now have a decentralized solution to protect value in the era of decentralized money.”
Matthijs van Driel from Magnus Capital said the following:
“DeFi shows incredible promise and has the potential to turn the global finance world on its head. But the risk of fraud, hacks and exploits remains very high! Just this week we saw Pancake Bunny attacked and exploited for over 200m dollars. To truly unlock DeFi’s potential, we need to mitigate these risks. Insurance is one part, but what about prevention?
Lossless is developing a solution that we believe will provide token creators with a new tool to combat these attacks, while maintaining the decentralized governance ideals that we hold so dear. We’re excited to be on board with them in this endeavor!”
Lester Lim, the Founder of X21Digital commented:
‘’X21Digital is constantly looking for promising projects which add value to the crypto community and blockchain ecosystem. As the Defi space grows, it is in constant attack and under threat of various types of exploits. Lossless’ vision is to safeguard the Defi ecosystem with minimal to no losses from hacks, exploits, or social engineering. As a team of experienced engineers, finance professionals, as well as DeFi experts and white hat hackers, we are dedicated to making crypto investing accessible and safe. X21Digital believes in the projects which not just bring innovation, but also contribute to positive social change in blockchain space to make it better and safer for investors. Lossless is one of them. We are happy to be a part of their journey together!’’
All of our investors are highly regarded in the crypto industry for their knowledge and expertise. With their help, we will accelerate the growth of our project, thereby truly transforming the way safety is managed and conducted in DeFi. The funds will be used for general project development, marketing efforts, and more.
We’ve got a lot going on in the coming days and weeks, so don’t forget to follow us here on our Medium page so you don’t miss anything!
Details of the Private Sale
Private Sale Token Allocation: 29,155,000 LSS
Total Raised via Private Round: 2,245,000 USD
Private Round Token Price: 0.077 USD
Total Token Supply: 100,000,000 LSS
The overwhelming support received from our investors and the crypto community provides sufficient testament of the need for Lossless. The backing is really an indicator that Lossless is an idea whose time has come. This belief in our platform and vision for the future was aptly expressed by our CEO, Vygandas Masilionis, who said:
“We couldn’t be more pleased with securing funding from the most experienced and leading players in the financial and crypto industry. Their willingness to fund our future development and to get on board as our partners speaks volumes of the journey that we are embarking on. Their commitment to our course is not only an endorsement of what we are trying to achieve but also a resounding show of faith in the DeFi movement. It is an indicator that these players believe the sector will be adopted in the mainstream markets and for it to attain its potential there is need to have proper safeguards in place to ensure the security and safety of investors’ funds, a concern that Lossless is committed to addressing.”
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: