June has been quite a high-paced month for our collective. If you read our Medium articles or follow us on Twitter or Telegram, you already know that the Lossless team has been quite busy. Building strong partnerships, onboarding new teammates, and listing LSS tokens on exchanges is just a surface of an iceberg that’s our progress made in the background.
There’s plenty of work done to put smiles on our faces. But, in case you don’t follow our progress as closely as we’d like you to, we’ve rounded up every significant deed into one article. Stay tuned to catch up in no time, and you can judge our progress of becoming the go-to option for a DeFi anti-hack tool by yourself.
So, without further ado, let’s delve into the most notable events from this past month related to Lossless, one by one.
The Lossless anti-hack code is already live!
Arguably the biggest news of the month was the launch of the Lossless Controller on the Ethereum Mainnet, finally allowing for any ERC20 token creators to plug into our protocol and make use of an additional security layer for their funds.
At this moment, it still lacks some functionalities which we’ll introduce during the upcoming quarters. Nonetheless, the Lossless code is ready to use. Since we tied the LSS token with the protocol’s architecture already, several hack resolution mechanisms and new staking options will be introduced soon.
Some are already live, such as LSS liquidity farming on Unicrypt. We’ll get you up to speed when more updates come closer to release.
LSS token listed on Kucoin, Gate.io, Uniswap & others
Going live was not the only reason June started on a very high note. Around the same time, we reached another crucial milestone when we listed the LSS token on several major exchanges.
As a result, our tokens became available to trade on KuCoin and Gate.io in an LSS/USDT pair. Additionally, we put up LSS on decentralized exchanges of Uniswap (V2) and PancakeSwap (V2) in LSS/ETH and LSS/BUSD pairs, respectively.
To get on these respectable high-liquidity markets was a crucial puzzle piece that had to be in place. Without it, we couldn’t possibly strive for broader exposure in the DeFi space. Making it happen so swiftly after publishing our whitepaper only adds more to the excitement.
Besides all that, it’s worth noting that LSS trading is available on Hotbit and Bilaxy markets as well.
Lossless completes IDO; collaborates with PAID Ignition right after
Another huge milestone materialized as a Lossless partnership with PAID Ignition, a crowdfunding launchpad platform for freshly baked startup projects just like ours. Coincidentally, it’s the same platform where we successfully conducted our $200,000 Initial Dex Offering (IDO)!
Because of us teaming up, from now on, PAID Ignition will promote the integration of our anti-hack tech with tokens aiming to launch on the Launchpad. It will provide us an opportunity to contribute to the safety of many crypto projects and reap the rewards of a long-lasting exposure to lots of crypto users, which is precisely what Lossless protocol strives for!
Making friends with PolkaFoundry & more
A busy schedule didn’t stop us from making even more friends in DeFi. Earlier in June, one of those new friends became a one-stop production hub for DeFi & NFT applications on Polkadot called PolkaFoundry.
As a result of our partnership, we’ll start promoting and introducing foundry’s projects to our partners’ network. In turn, our partners get access to a broad range of merits from the PolkaFoundry. These include UX-enabling features, parachain’s scalability, and interoperability.
The best part is, PolkaFoundry will also show support by helping us onboard even more projects through their vast network of blockchain-based associates. It’s beneficial not only for token creators on Polkadot but also for liquidity providers and investors eagerly aiming for top-notch wealth security.
Since our long-term visions align perfectly, we expect it to be a fruitful relationship, and we couldn’t be happier about it!
Uno Re offers lower-cost reinsurance premiums for Lossless users
On June 21st, we’ve also officially joined forces with Uno Re.
Uno Re is an innovative, democratized reinsurance and risk-trading platform built on Polkadot. And now, it offers a service to cover Lossless-wrapped tokens with the Excess of Loss insurance from various risks and losses.
In addition, Uno Re offers reinsurance premiums at a lower cost as a combined service, whereas implementing the Lossless anti-hack tool comes as a package deal. Exciting!
NewsCrypto.io starts community education on using Lossless tech
Here’s another exciting bit, this time involving NewsCrypto, an all-in-one crypto suite full of comprehensive tools for every type of user. It’s an astounding platform, and they agreed to prepare easy-to-read educational articles about the Lossless exploit mitigation tool as a working security measure and share them with their platform’s community.
According to the NewsCrypto blog, it’s also likely their team will implement our solution as part of their blockchain incubator for new projects, that way helping up-and-comers improve their security beyond the current market expectations. And we expect nothing less!
LaunchX promotes the Lossless code integration to its Launchpad tokens
Last but not least, let’s talk about LaunchX, a multi-chain, governance-based IDO Launchpad with unique functionality and a B2B ecosystem. Here, start-ups come to raise capital in a decentralized manner across multiple blockchains with unmatched flexibility.
Projects that want to launch on the LaunchX platform have to go through an extensive background check before applying for a fundraiser. How does it relate to Lossless? During these checks, some selected projects will integrate our hack mitigation solutions to increase the safety and trustworthiness of DeFi.
Moreover, LaunchX will encourage all Launchpad tokens to use our protocol and protect the platform’s investors from the day the new project is launched.
Lossless welcomes new team members and advisors
Moving forward, our team wants to highlight two individuals and introduce them to the community. They will help propel Lossless to a vision that we’ve set in our minds, thus bringing us closer to becoming a common, household anti-hack tool for DeFi.
New advisory board member: Mr. Massimo Buonomo!
First off, we have a new member of our advisory board, Massimo Buonomo. He brings tons of wisdom and experience as Mr. Buonomo is widely regarded as one of the world’s most knowledgeable voices in blockchain, cryptocurrencies, CBDCs, artificial intelligence (AI), Fintech, and alternative data.
Mr. Buonomo will advise Lossless on strategy and product development, help to realize complex fraud identification methods, and, ultimately, make us better at detecting fraudulent transactions. Besides, we can make use of Mr. Buonomo’s vast network of connections that he accumulated over the years of working with global organizations such as the United Nations Centre for Trade Facilitation and International Business (UN/CEFACT), UNECE Italy, and several others.
No doubt Mr. Buonomo’s experience and connections will help enrich the Lossless Committee with international experts and professionals. He’ll make an excellent advocate for our product, as he is already for crypto and DeFi.
New developer team member: Alexandar!
Another person we want to showcase is a new member of our Lossless developer team. His name is Alexandar, and he’s about to use his coding shenanigans to bring innovative solutions to our protocol.
He’s passionate about all the security risks and concerns and ways of handling vulnerabilities through pattern-based systems, and his genuine belief in our team’s mission will make his efforts count.
To get to know him better, we asked Alexandar a few burdensome questions. Check out his answers, and take a minute to learn more about his prior experience working in DeFi.
Meet the first DeFi platform to implement Lossless!
June ended with a BANG for us, that’s for sure! That’s when the climate-positive DeFi platform, Brokoli Network, officially became the first project to implement a Lossless security layer into their native $BRKL tokens!
This is the very first platform to do so, and we’re proud to be able to say it!
Haroldas Pakalniskis, CEO from the Brokoli Network, is sure that, in the long-term, this alliance will only boost user confidence in the platform’s longevity and help achieve a goal of sustainable DeFi activities. “Together with Lossless, we can make DeFi superior in two key areas: security and sustainability. Our partnership builds a hack-proof, climate-positive ecosystem,” says Haroldas.
Moving towards a brighter future
All that in just one month! Can you imagine what we will achieve in the long term? We intend to keep this pace, so keep an eye out for product further updates and announcements. There will be lots of exciting news coming your way — we can promise that! So stay tuned.
About Lossless
Lossless is the world’s first DeFi hack mitigation tool for token creators. Our protocol halts counterfeit transactions through various methods of fraud identification and automatically reverses any stolen tokens back to the original owner.
With our stake-based reward system, the community is encouraged to explore new ways to detect hackers and fraudulent transactions. Our sleek and fluid dashboard interface also allows users to view transactions at a bird’s-eye view.
To learn more about our project and join the community, follow us on our website and social media platforms below:
