RT @jdshutt: The @losslessdefi team is doing incredible work on mitigating hacks and rescuing stolen funds. UMA's optimistic oracle can ver…

That's right - we'll be using UMA protocol with Wrapped Token tech. 🚀 The latter will allow anyone wrap their ERC-20 tokens with Lossless security - implement our hack-mitigation protocol to retrieve stolen funds. The protocol verifies reported hacks through a voting mechanism. 🗳 However, wrapped tokens, secured even by end-users, will not have a token's admin. That's where our community steps in. 🕵️ Through our Lossless DAO, community members will cast votes and we'll use UMA in this process. To verify reported incidents, the Security Committee, Lossless tech team, and the Token Creator would vote to confirm a report's legitimacy. With wrapped tokens the third vote will become the Lossless community vote. 🔥 Wrapped Token tech audit is almost finished. Report coming 🔜 Twitter thread 👉 https://twitter.com/losslessdefi/status/1648773689108844549?s=20 Twitter | Telegram | Discord | Website | Whitepaper | Github

That's right - we'll be using UMA protocol with Wrapped Token tech. 🚀 The latter will allow anyone wrap their ERC-20 tokens with Lossless security - implement our hack-mitigation protocol to retrieve stolen funds. The protocol verifies reported hacks through a voting mechanism. 🗳 However, wrapped tokens, secured even by end-users, will not have a token's admin. That's where our community steps in. 🕵️ Through our Lossless DAO, community members will cast votes and we'll use UMA in this process. To verify reported incidents, the Security Committee, Lossless tech team, and the Token Creator would vote to confirm a report's legitimacy. With wrapped tokens the third vote will become the Lossless community vote. 🔥 Wrapped Token tech audit is almost finished. Report coming 🔜 Twitter thread 👉 https://twitter.com/losslessdefi/status/1648773689108844549?s=20 Twitter | Telegram | Discord | Website | Whitepaper | Github