The DeFi space is growing exponentially, attracting the attention of enthusiasts worldwide. A huge influx of investors are looking to harness the potential in the fast-rising DeFi space.
Yet, this increasing interest in the DeFi space also means nefarious individuals have more chances to rob unsuspecting individuals or DeFi platforms of funds. Lossless, however, bases its business on thwarting the activities of hackers in the decentralized finance space. Lossless, as the name implies, is a hack mitigation platform for decentralized finance (DeFi) apps.
This article covers in-depth details about the hack mitigation platform, its activities, and what it hopes to achieve in the next couple of months, leading up to the first half of 2022.
Source: Lossless blog
The year 2021 was a truly adventurous one for the DeFi hack mitigation platform. Lossless recorded several excellent updates all geared at facilitating growth, development, and security in DeFi. Some of these updates include;
- The launch of its solidity standard
- Its Public Security Audit
- The launch of its Token Minter
- Lossless platform launch, etc.
While there were a few changes in specified timelines and also a few glitches, all of Lossless’s still completed all proposed updates for 2021.
— Lossless (@losslessdefi) November 22, 2021
Upcoming Roadmap (2022 In View)
The hack mitigation platform plans to end the year in a well-coordinated manner. In line with this, the protocol lets users know what to expect for the remaining part of 2021 and the first half of 2022.
This December, the platform’s much-anticipated vault protection tool is set to go live. We also expect to see the addition of Ethereum (ETH) and Binance Smart Chain (BSC) support. Also, its public security audit will take place this December.
The first half of 2022 will also include several other interesting updates. According to reports, In Q1 of 2022, we expect;
- The launch of a Hack Monitoring Software Development Kit
- Lossless core protocol will also go live, and
- Lastly, other Lossless platform updates
In Q2 of 2022
- Lossless Token Minter will go live, and
- ERC-20 tokens will be wrapped with Lossless code to create L-BTC and L-ETH tokens.
Apart from these major updates, Lossless will continue to work on facilitating growth and development of its hack mitigation platform. They are bringing to life better security standards in the fast-growing DeFi space.
More on Lossless
Lossless, according to reports, is the world’s first-ever DeFi hack prevention and mitigation tool. The platform employs top cyber security solutions, professionals, and even its community members. Together, they work to ensure that top security standards are applied in the DeFi space.
Lossless prevents hacks and other fraudulent activities via several methods. It also is designed to return stolen funds that have been recovered, back to its original owner.
At the time of writing, LSS was trading at $1.13 with a market cap of $26,254,216 and a 24-hour trading volume of $3,043,856. The token price is also down by 7.0% in the last 24 hours.
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