111PG partners with Lossless to champion security in DeFi
We’re excited to announce a close collaboration between 111PG and Lossless as we both work to make the DeFi space more secure.
Lossless helps protect token creators from hacks by, among other things, freezing fraudulent transactions. They’ve analyzed the history and complexity of hacking in DeFi and created a system that can return hacked funds. With their effective hacking protection, Lossless is able to return funds to the token issuers and thus keep their community safe.
111PG is, of course, not new to providing DeFi security as we are already successfully protecting projects on multiple networks (including Polygon) from sniping-bots and other listing security threats.
The partnership with Lossless will not only make more projects aware of Lossless and 111PG services for greater security but will also introduce the two communities to each other. The DeFi space has been in rapid growth mode for the past year and strong communities are the backbone of that growth.
Thus, for example, the partnership will expose Lossless’ community to many useful DeFi tools from the Dexe Network ecosystem of which 111PG is a part, such as Wallet Info and Wallet-to-Wallet Copying. Security and utility go hand in hand, so having more tools at their disposal is always a positive.
“111PG’s success against sniping bots is inspirational and is certainly of benefit to our community and the projects we work with,” notes Lossless’ Project Lead, Vygandas Masilionis.
As DeFi grows and matures, one thing is certain — hacking and abuse of fair trading are the enemy. 111PG and Lossless are happy to lead the fight against this abuse of community trust in order to create a better DeFi future.
111PG is a project created in response to the problem of sniping bots ruining the credibility of swap listings for projects and thus threatening the DeFi ecosystem as a whole. It’s the most effective solution in defeating sniping bots project after project, making sniping very costly for bot owners but harmless for the targeted projects. 111PG built on that success to expand its services of protecting and scaling liquidity for DeFi projects. It is part of the Dexe Network ecosystem and benefits its community through fee sharing and in other ways
Lossless is helping token creators by preventing and reversing hacks in several ways. By freezing fraudulent activity and returning the funds to the token’s creators, they help keep/restore trust in projects and the space as a whole. They use powerful fraud analysis and have two levels of fraud mitigation
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