Why Lossless Won’t Abandon Its Mission of Security in Web3
There’s no denying that the market drop and the current environment have shaken everybody to different levels. Immediately the tension rises and many people quickly ask if certain projects can survive the conditions they have suddenly been tossed into. Our team is no exception — we too were asked multiple times if we have the necessary resources to overcome even the toughest of bear markets. This article is a set of arguments to ensure our community that Lossless is not going anywhere. Here’s why.
Our budget which we have successfully acquired through our pre-IDO phase last year and Cream Finance’s stolen fund retrieval allows us to overcome any type of conditions the market could come up with. We’re not speaking of months. It’s years of product development our team is able to continue doing. Funds are not an issue for our future growth.
Lossless has been in the market for almost a year now. Through that year we were able to launch three products live one of which was our key milestone — the hack mitigation protocol. We already have success cases for those tools like token retrievals for AAG Ventures and gotEM. We secured multiple partnerships, both integrations, and adoption expansion through various launchpads and blockchain companies. We consistently communicate where the project is going, and what’s next for us to safeguard transparency.
All this is possible because our team has a long-term vision of where we want Lossless to go and that is to lead security for web3. Such ambitions take time. Which we have and are willing to invest.
Solving one of crypto’s worst problems
We are fully aware of what kind of mountain we have picked to climb. Once you look at the stolen fund stats, you can see that hacks are only increasing and becoming more sophisticated as well: 2021–$10 billion, 2022 Q1–$1.6 billion already.
If you check how many projects are tackling security in their own way in crypto, you’d only find 15 listed on CMC. This is a strong signal of how early the field is and how much more work needs to be done to place security among crypto priorities. That’s one of the reasons why we’re here.
Dedicated and transparent team
Each member of the Lossless team is passionate about protection in his/her own way. Combined we get a security-driven team that can take on tech development, communications, business growth, operations, and management. This team resulted in multiple wins in the first year of Lossless and each person can be viewed on our website where you will find our LinkedIn, and Twitter profiles as well.
We appreciate quality and added value work — it’s important for us to create and launch tools available to the entire crypto space and raise the bar of security overall.
We will continue to build
We emphasized quite a lot while talking with our community that despite the market we will not stop developing our security solutions. We have the funds, time, plan, and team to ensure that. Hopefully, this summarized article will serve as proof of that but like any other day, we are more than happy to answer your questions via Telegram, Twitter, or Discord— be they tech-related, management, or any kind.
Special thanks to our community members for your continuous support of Lossless — you make our journey worthwhile.
Lossless is the world’s first DeFi hack mitigation tool for token creators. Apart from Lossless’ known cyber security solutions and renowned professionals, the community also plays a role. With a tangible reward system, community members are also encouraged to explore new ways to detect hacks and fraudulent transactions.
Lossless protocol halts counterfeit transactions through various methods of fraud identification and automatically reverses any stolen tokens back to the original owner. Its solutions to the impending problems of cyber theft within the blockchain space are thorough and applicable within many protocols.