An entire month has already passed from the last development update we published. Every month our tech team summarizes the achievements and progress made during the past 30 days. This way we want to ensure the transparency of our work and provide, you could say, a report to the community. Let’s get to it then!
Core Protocol
- All six chains that we support now have a fully deployed Lossless Protocol. This means that teams that are building on Ethereum, BNB Chain, Polygon, AVAX, Harmony, or Fantom can easily implement our security products.
- With the help of our protocol, we helped to successfully prevent a hack and retrieved 78M $AAG tokens back from the Harmony bridge’s exploit.
Security Oracle
The tech team is currently working on new Security Oracle features, such as:
- Suspicious transaction monitoring improvements;
- Customizable alerting systems (meaning that Security Oracle users will be provided a choice of how they wish to be alerted of potentially malicious activities);
- Interaction with smart contracts is a work in progress.
Soon we will be able to announce the upcoming product launch timeline.
Token Minter
- Last but not least, since we deployed our hack mitigation protocol onto all supported chains, the same edit was made for our Token Minter. Now the features of mintable and burnable tokens are also supported on all six chains mentioned above.
We are moving forward according to plan, doesn’t matter what the market looks like. As promised, our team is continuing to build security solutions for the entire industry. Our goals:
Stay tuned for more updates!
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.
Twitter | Platform | Telegram | Discord | Website | Documentation | Github
