Lossless

Halal Rating :
Comfortable
Last Price $0.025 Last updated:
Rank 1862
1D Change 1.52 %
Market Cap $1.38m
Circulating supply 55,572,672
Maximum supply 100,000,000

Crypto Overview

Categories
  • Cybersecurity
  • AI & Big Data
  • Ethereum Ecosystem
  • Avalanche Ecosystem
  • Polygon Ecosystem
  • Fantom Ecosystem
  • Harmony Ecosystem
  • BNB Chain Ecosystem

Overview

Lossless is a DeFi security protocol that aims to prevent token hacks and scams through its innovative fraud detection system. The protocol introduces a layer of protection for token projects that can freeze fraudulent transactions based on community-driven hack detection.

Purpose and Utility

The primary purpose of LSS is to serve as a governance and utility token within the Lossless ecosystem. Token holders can participate in hack detection, stake tokens to become validators, and vote on protocol decisions. The platform provides legitimate security services to other cryptocurrency projects, creating real value in the DeFi space.

Business Model

The protocol generates revenue by providing security services to other token projects. When a hack is successfully detected and prevented, a portion of the recovered funds is distributed to LSS stakers and hack detectors. This model aligns with Islamic principles as it provides a legitimate service and value exchange.

Development and Adoption

Lossless has demonstrated active development and has secured partnerships with multiple DeFi projects. The team regularly updates the protocol and has implemented their security solution in various token projects. The platform shows genuine utility in addressing a critical need in the cryptocurrency space - security against hacks and fraud.

Token Distribution

The token distribution appears reasonably balanced, with allocations for development, community incentives, and team members. Team tokens are subject to vesting periods, indicating a long-term commitment to the project.

Rating Justification

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