PAID Network and Master Ventures Partner with Lossless to Combat DeFi Fraud
PAID Network and Master Ventures are proud to announce a new partnership with Lossless, an advanced DeFi hack and fraud mitigation tool.
This new partnership will allow us both to work closely with Lossless to minimize fraudulent activities in the blockchain and DeFi space by leveraging the power of Lossless’s unique technology that allows the urgent freezing of funds, fraud analysis and the reversal of stolen funds if fraudulent activities are confirmed.
All blockchain projects and IDO’s that PAID Network and Master Ventures work with will have the opportunity to benefit from Lossless’s services and gain valuable security insights. In turn, Lossless will introduce new and interesting projects to our joint ecosystems to be considered for future IDO launches and new avenues of cooperation.
Vygandas Masilionis CEO of Lossless, said of the partnership,
“Lossless being partners with PAID Network is like a stamp of proof that what we’re building will bring value to the entire crypto space. It only enforces our goal to bring solutions for protection against hacks to as many projects as we can reach.”
Kyle Chasse, CEO of PAID Network comments on the partnership saying,
“Combating negative exploits such as hacks and fraud in the DeFi and crypto space is a top priority for both PAID Network and Master Ventures. We believe security is a big aspect of how we can promote and ensure user adoption in the space. This is why our partnership with Lossless is so important, as it represents a key step for both of our ecosystems alongside all the projects we work with to gain more protection against such events and also obtain valuable knowledge on how to mitigate and counteract such problems moving forward.”
The blockchain space is evolving rapidly with countless projects in the public domain, leaving it a vulnerable place for hacks, fraudulent activities and negative exploits. This new partnership will allow PAID Network, Master Ventures and Lossless to work closely to set a new security standard alongside combining our business ecosystems to explore mutually beneficial opportunities.
Lossless is the world’s first crypto hack mitigation tool.
Implemented into the token, the Lossless protocol allows to freeze and retrieve any fraudulent transaction based on a set of hack identification parameters.
Lossless aims to create a trusted and safe DeFi ecosystem with minimized losses from hacks, exploits or social engineering.
About PAID Network
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they GetPAID wherever they are in the world.
PAID technology leverages Astar to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.
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About Master Ventures
Master Ventures is a blockchain-focused venture studio helping to build the next generation of blockchain-based Web 3.0 system innovations within the crypto industry. Launched in 2018 by Founder and CEO Kyle Chassé, the company’s ethos can best be summarized in the acronym #BeBOLD: Benevolent, Open, Love, Decentralized.
Master Ventures co-creates with entrepreneurs and businesses worldwide to turn the best ideas into innovative and disruptive products. They do this by investing as strategic partners through offering advisory services to the projects they believe in. To date, Master Ventures has invested in over 40 crypto projects, including the likes of Kraken, Coinbase, Bitfinex, Reef, DAO Maker, Mantra DAO, Thorchain, and Elrond.
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