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INCUBATION

Lossless Protocol

Private Sale Token Claim Portal: lossless.daomaker.com

World's first crypto hack mitigation tool for trusted and safe DeFi.

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What is Lossless (LSS)?

Lossless brings a trusted and safe 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, Lossless team is dedicated to making crypto investing accessible and safe. Together they are building a new protocol for reliable DeFi investment and development to support blockchain technologies' growth. Lossless, aims to create a place where everyone could employ their money quickly with minimum risk. With a safer environment for everyone and increasing the adoption of DeFi markets.

Lossless protocol - at its core, a piece of code that token creators insert into their tokens - this code empowers Lossless to freeze any fraudulent transaction based on a set of fraud identification parameters.

There two-step process for recovering stolen funds:

  1. Urgent/instant freezing after a hack - this step is community and technology-based, rewarding the one who identifies the hack and freezes the transaction.
  2. Longer/permanent freezing occurs after a hack was verified by the Lossless committee, company, and token creator, which takes steps to reverse the fraudulent transaction.

What makes Lossless (LSS) unique?

Even though DeFi is proliferating, it is worth noticing that its technology, UX, accessibility, and security are still in early development stages. The constant hacking of core crypto platforms is hurting the crypto world. The latter is one of the core obstacles for a more comprehensive trust of the investor pool and adoption outside of the crypto world.

According to the research done by Atlas VPN, there have been more than 122 major hacks, and a total of $3.8B has been stolen in 2020 alone. As cryptocurrencies become regulated, going from a niche investment to a mainstream asset held by millions of consumers, banks are expected to take the plunge into the digital asset space. With big banks joining in, hackers will become more incentivized to attack than ever before.

Ethereum's smart contract Turing-completeness makes many DeFi projects prone to being exploited and hacked, resulting in investors' loss of funds.

Although the space suffers an great problem there is almost an inexisting competition in the current DeFi cybersecurity market leaves room for rapid market share growth for Lossless.

A 10% market share of $3.8B would imply the prevention of $380 million losses. And a 7% Lossless monetization fee would return $26.6 million in income for Lossless protocol. Keeping in mind that hacks and the hacked amounts increase, this brings a unique growth opportunity for the project.

What is Lossless (LSS) roadmap?

Lossless (LSS) revenue streams

How does Lossless (LSS) work?

Lossless protocol is a piece of code that token creators insert into their tokens - this code empowers Lossless to freeze any fraudulent transaction based on a set of fraud identification parameters.

The two-step process for recovering stolen funds:

  1. Urgent/instant freezing after a hack - this step is community and technology-based, rewarding the one who identifies the hack and freezes the transaction.
  2. Longer/permanent freezing occurs after a hack was verified by the Lossless committee, company, and token creator, which takes steps to reverse the fraudulent transaction.

Two levels of loss mitigation

A proof-of-stake hack finding platform

  • An intuitive dashboard that allows manual overview and reporting for hack spotters
  • Bot friendly APIs for community-created hack-spotting bots
  • A transparent reward system that guarantees high levels of participation and innovation

Three Party Lossless Decision Making Structure

  • This structure consists of three entities - Token Creator, Lossless Company, and Lossless Committee. The committee that overviews frozen transactions consists of investors with a significant share of LSS tokens and key public figures that provide trusted and unbiased decision-making, such as auditing firms.

Lossless Protocol takes action immediately after a hack to mitigate its effects.

  • Minutes after hack - anyone (finders) can freeze an address for 24-48 hours if they stake LSS tokens
  • The Lossless team reviews the frozen address to determine whether it's valid or not
  • If Yes - further steps are taken (see below); finders are rewarded a fee
  • If No - staked tokens of the finder are confiscated, the address is unfrozen
  • Hours after hack - Lossless company evaluates code, contacts contract owner

If the hack is valid - the address is frozen for further 14 days, and a committee proposal is enacted for permanent transaction freezing and reversing the transaction.

What is Lossless (LSS) marketing strategy?

Lossless primary focus areas will be:

  • Business Development
  • Early Adoption Incentives
  • Influencer marketing
  • Affiliate and referrals

Product/Token

Highly correlated tokenomics - product success, with its ability to freeze hacks, is designed to impact and create interest for LSS token.

Business Development

Partnerships and integrations with existing and upcoming tokens will be one of their protocol's driving forces. Lossless will be dedicating part of the team of sales and business development people to talk to as many existing and newly established token creators to integrate lossless protocol.

Early Adoption Incentives

Lossless will provide early adoption incentives, such as tokens for projects that join early.

Influencer Marketing

Influencers are the main access gate to a broader reach of the right audience in the crypto world, as trust is one of the industry's critical values. Lossless goal is to cooperate with influencers who have proved their integrity and understanding of the crypto world. Such personalities usually have an enormous following and can motivate many of their followers to use diverse products.

Lossless will create long-lasting relations with all their customers, and they will work with a small number of influencers who will consequently become their brand's ambassadors. This is an effective way to gain more trust in the crypto world and boost its numbers.

Affiliate And Referrals

Lossless Affiliate and Referral Program will follow these steps:

1. They will talk to famous influencers and crypto bloggers who have an excellent reputation to spread the word about Lossless.

2. Anyone referring and successfully making token creators use Lossless code will receive a one-time incentive in the form of LSS tokens.

What technologies Lossless (LSS) created and used?

What are Lossless (LSS) tokenomics?