The Lossless team is thrilled to announce the launch of its new product, Wrapped Tokens. Wrapped Tokens enable ERC-20 token holders to wrap their assets in Lossless security, a protocol whose main aim is to retrieve stolen funds.
Finally, Web3 users will be able to wrap their tokens in Lossless security, a game changer for the entire crypto industry, as previously only companies were able to use this advanced security method. Moreover, existing ERC-20 currencies can now be wrapped in Lossless security. Previously, only pre-launch projects were able to do this before deploying their smart contract.
Users can access their wrapped tokens via wrap.lossless.io, and the same process applies as previously with the protocol. Transactions can be reported through the platform.lossless.io if funds are stolen. Community members can stake $LSS on top of that report to make it more visible and become eligible for rewards upon asset return.