New Partnership in Town: Lossless and Tidal Finance Aim to Make DeFi Projects More Secure
If you thought partnership season is inactive, you are in for a surprise. Partnerships are a crucial element in our project’s entire mission — without other DeFi projects being on board, we can’t expect the space to become more secure. This is why — drumroll, please — allow us to introduce you to our newest partner — Tidal Finance!
Tidal Finance is a multi-chain insurance platform, meaning it works with an outstanding number of projects simultaneously. Suppose it ever happens that any of those projects get hacked or exploited because of existing yet unknown vulnerabilities. In that case, the Lossless team will have the chance to help these projects retrieve lost funds manually. And if any of them decide to relaunch their token after the exploit, they will be offered to integrate the Lossless Protocol.
This partnership means that Tidal Finance’s ecosystem is getting a solid security partner with the tools to mitigate losses and prevent any from happening (Vault Protection, anyone?) As for Lossless, we have another door opened to reach out to multiple projects and address their token security.
“As a protocol level insurance provider, we have seen a tremendous need from projects to trace hackers, most often, shortly after the incident.” Said Chad Liu, Tidal Finance Co-Founder and CEO, “The Lossless Team has demonstrated the ability to do so, and we are looking forward to having a partner like this in the safety ecosystem.”
Vygandas Masilionis, CEO of Lossless added: “Very happy to welcome Tidal Finance to our partnership circle and work together towards ensuring that more DeFi projects have the chance to receive the option of a higher security level.”
About Tidal Finance
Tidal Finance is the first multi-chain flexible insurance platform, working directly with companies, and the first insurance solution to launch on Polygon. The flexible insurance model allows companies to adjust their premiums on a weekly basis based on fluctuating TVLs (Total Value Locked) and evolving investment strategies. Users can buy and cover insurance purchasers and receive the highest APYs in the industry. Tidal Finance is also the first DeFi insurance provider to offer gas-free transactions for cover providers and buyers.
Lossless is the world’s first DeFi hack mitigation tool for token creators. Apart from our known cyber security solutions and renowned professionals, the community also plays a role. With a tangible reward system, community members are also encouraged to explore new ways to detect hacks and fraudulent transactions.
Our protocol halts counterfeit transactions through various methods of fraud identification and automatically reverses any stolen tokens back to the original owner. Our solutions to the impending problems of cyber theft within the blockchain space are thorough and applicable within many protocols.