DuckDAO formed strategic partnership with Lossless

Cyber attacks continuously target platforms and exchanges, thereby tainted the blockchain space’s image, compromising precious user funds, and decelerating adoption from the outside world.

Here at DuckDAO, they’re always committed to finding solutions that elevate blockchain security. That’s why today, they’re thrilled to announce that they’ve entered into a new strategic partnership with the team at Lossless.

Working closely with Lossless will allow DuckDAO to improve upon their ecosystem’s security, thereby strengthening reliability and trust with their community. They’re making a big name for themselves in the industry, and their technology provides far more safety and credibility than traditional audits can.

For this partnership, both of their teams will be connecting each other with all associated projects moving forward, while also helping promote each other through our platforms and social media channels.

DuckDAO on the Lossless Committee

The Lossless committee was put in place as the decision-making authority that governs and verifies flagged fraudulent transactions on the network. As part of our collaboration, Lossless is providing 1 representative from DuckDAO with a seat at the table.

The committee is comprised of 9 total chairs, and DuckDAO is electing industry experts across a wide spectrum of specialities and areas, such as lawyers, auditors, analysts, insurers, investors, and auditors.

Having representation on their committee provides their team with an opportunity to contribute to enhanced safety and security through Lossless.

Lossless Overview

Lossless is a DeFi hack mitigation tool specifically designed for token creators. The protocol is able to efficiently freeze and halt counterfeit blockchain transactions via fraud identification methods and its community participation, reversing any stolen tokens back to their original owners.

Token creators can implement Lossless with their ERC-20 tokens to enable its unique hack mitigation technology. Its API allows bots to spot and flag particular fraudulent transactions for review, thereby earning rewards for the bot’s creator.

The Lossless committee is responsible for overseeing all reported and proposed frozen transactions, then confirming whether they’ve been correctly deemed illegitimate and, if so, permanently freezing the recipient’s address. Once complete, a proposal is put into place to reverse the transaction to the owner’s wallet address.

To tie it all together, Lossless’ interactive and smooth dashboard interface allows users to view and manage their transactions from an overarching perspective, letting them keep tabs on all on-chain activity and metrics.

Find Out More About DuckDAO🐥

DuckDAO is a community-backed digital asset incubator that provides promising early-stage crypto startups with the expertise, financial resources, and marketing power needed to fast-track their progress on the path to success.

📰 INFO 

https://medium.com/duckdao/duckdao-x-lossless-form-new-strategic-partnership-d75791f4a7ae