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Community AMA
Recorded: May 23, 2025 Duration: 0:57:30Space Recording
Short Summary
In a recent AMA, the team discussed their strategic shift towards enhanced marketing efforts, ongoing growth amidst a favorable market, and plans for future partnerships and fundraising. They emphasized the importance of grants and token management strategies to ensure sustainability and value for investors.
Full Transcription
Thank you. Thank you. Hello, hello everyone. Hopefully you can hear me well. We're going to wait a little bit longer,
like one or two more minutes until a few more people join and then we can start the AMA.
people join and then we can start the AMA. I have a couple of questions that have been
asked and have basically gathered that throughout the week. So the space is recorded as well.
We'll also make a post with all of the answers as well so people can read it afterwards.
We'll share it after the spaces is done,
so no one will miss it.
So no worries about that.
So let's wait two more minutes and yeah, we can kick it off. Thank you. Thank you. Okay, so the minutes are up.
So the minutes are up and yeah.
If you have any questions that you feel are not answered
by the questions that I have shortlisted,
just leave a comment right here and I will get to it.
So starting off with the first one.
Let me find it there quickly.
Yeah.
So we have recently mentioned a shift towards marketing
and what would that involve specifically?
The question is for,
is there gonna be influencer ads or something else?
So the way that we have done marketing in the past
has involved everything.
So from PR, basically us showing up on popular places where you read your crypto articles into KOLs as well.
So all of the different things in the past, we're definitely going to include into the marketing campaigns.
One of the things that we have noticed over time is that KOLs have been quite harder to work with. So they just
have very unreasonable requests as this as they always do. So our
goal here is to find the best value for what we pay in order to
get the the reach that we're looking for.
So the goal would be at least with a marketing campaign
that we'll try to pull off is gonna be PR campaigns
with publishers that get real readers, KOLs,
that even if they are expensive,
we'll try to get the ones that do bring real people
into the table because most of the cables
these days end up being bought it.
And when it comes to ads in the sense of buying X ads or any kind of Google ads or anything
like that, we have tried that before.
It doesn't work very well.
What happens is since we are a security protocol and we try to advertise the ability to save tokens, recover them, and so on, we end up getting paused a lot.
We end up getting blocked a lot by Google and X.
So if we find a way to kind of get away from all of those censorships that happen, then we'll try those as well.
that happen, then we'll try those as well.
For the most part, those don't have the best results,
but nevertheless, we're gonna definitely try that.
But yeah, influencers and PR are the main ways.
Other things as well,
we'll include all of those tasking platforms as well.
So things like Galaxy, things like TaskCon,
all of those stuff, we're gonna take a look into those
to have some more people coming in
through those channels as well.
Moving into the next question.
This question is, why start marketing now?
When the community asked for it the last bull run?
Well, in our books, the bull run is still ongoing.
At least if you look at Bitcoin, if you look at altcoins, it has started and finished like five times already.
So we don't think that the bull run is over, nor the last time it ended.
The last time we did a big marketing push was the first time we got the ST tag.
And if you remember then,
the price reaction was great.
We had a movement from around 9 cents
all the way to 0.24 cents, if I'm not mistaken,
or something along those lines. So it's not that we don't
know how to do marketing uh but it's about uh pulling it off when uh there's real people that
can engage with it there's actual users um if you take a look right now for example uh dot did
did this as well where they just spent millions and millions of dollars
during the last, basically before Trump got elected and everyone make fun of them about
how much money they were spending on marketing.
So marketing is a lot about timing.
And if you're a small project like we are, if you don't time that correctly, then you
just end up wasting a lot of resources
for very little results.
So the issue here is we're trying to time it correctly
and we're trying to find the better cases to do the market.
Like we did last time where we had like a Forex in price.
But this time since our market cap is lower,
probably can get more, but the whole goal here is
find value and find real channels
that can give us that growth.
Jumping into the next question.
Let me take a look real quick
if there's any kind of questions.
Yeah, this will be
summarized, so don't worry. If you're not a native English speaker, it will be
summarized so you can translate it and go through it at another time.
Going to the next question, after focusing on B2B,
will you still support retail traders
if marketing brings them in?
The simple answer here is yes.
It's not that our tools are not retail focused at all.
One of the things that we did with the protocol
is that everyone can kind of like wrap their tokens.
So even if a project is not minted by Loftus,
but you have wrapped the tokens that you own,
technically those tokens can be recalled
if you were to lose them.
So retail can still use the protocol as is what we changed was
we made ages only available for bigger projects it was a big cost for us to keep it running for
retail while retail was not using the product as much as we would hope they would. So if there is a demand for it, we will definitely bring it in.
There is no question about that at all.
So yeah, if there's demand for retail tools,
we'll definitely bring those in.
We're hoping that we can work out something
with ChainGPT in order to do that,
but we're still discussing some things with them.
Not, nothing is set yet, but yeah,
we're trying to find some other ways,
some better ways to do those tools.
So let me jump into the next one very quickly.
Can we get regular updates weekly or biweekly?
Yeah, so one of the things that was an issue with,
let's say giving these updates weekly or bi-weekly
was that we were moving too fast from one goal to the next
and we're changing our minds
as things change within the market.
So if we did updates too frequently,
it would be that one week we were working on something,
the next week we're working on something else and we change our mind. So if we keep flip-flopping, then you'd get confused as
well. So we have spent some time to kind of try to brainstorm and figure out what is the correct
way that we want to go. And one of the decisions you have already seen with us trying to focus more on the ecosystem
and trying to build that as the main way to grow the project.
So updates like that, I'll try to have those more consistently.
I cannot promise weekly or biweekly.
I'll try to have those basically once every two weeks and maybe bring
these kind of AMAs more often as well. So those updates will go directly through an AMA. So
everyone has it and it's easier for everyone to listen to it. So yeah, is there a plan? I will try to have those updates.
One of the things with the updates is that sometimes we might work on the same thing for the entire month.
So the update is we're working on this and it's being updated, working on this and it's being improved.
So I'm going to find a way to have those updates better for you guys.
Okay, moving on to another question.
Let me check if there's any questions that I didn't miss.
Okay, good.
Okay, we can keep going.
Just give me one second.
I need to save an answer.
Okay, moving on to the next one.
Has the move to B2B brought better results
than previous retail focus?
So as I mentioned on the previous question about this,
So as I mentioned on the previous question about this, it's not only about the results,
it's about, let's say, the sustainability of the project as well.
Having thousands of users that have the app that requires us to keep pay for infrastructure
and things like that.
And once the users are no
longer being active our system keeps working on the background while the users do not take
advantage of it so that was kind of like the focus as to why we decided to not make it available for
retail right now but look into bringing it back when there's more demand for it.
What has the B2B done for us,
it has made it more effective and more efficient,
where basically it's not as expensive to run
and it does a lot better at basically
trying to cover its costs.
And it's a good way for us to basically get in touch with these projects.
So that's the B2B focus.
But still, we're trying to right now focus on the ecosystem
and focus on projects actually building on top of lossless
instead of just using ages
uh because we need to find better ways to basically have the token utility more highlighted
just to show that you know the token is really needed and i'm going to dive a bit
later into why we're doing that specifically.
later into why we're doing that specifically
And the next question is, are your partners okay?
Yes.
Partners are okay with announcing publicly that they are partnering with us.
That has never been an issue.
The issue has been something else, which is the very next question, but partnering with
people, they are always open to just announce partnerships.
We do get approached for partnerships, but we don't want to do partnerships with some
projects that just want to say, hey, we're partnered and nothing else happens with them.
And we don't want you guys as well
to go into those communities as well
and just can end up getting rugged or scammed.
So that's why there's been a slowdown in partnerships as well.
We've been more selective
only picking like the right projects
or we're asking the projects to actually use our tools
in order for us to partner with them.
Jumping into the next one.
If a hack is reversed by lossless,
will the public still be informed?
So the confusion here is that if a hack is reversed,
we have to make it public because
it's the way the protocol works.
So a moment a transaction is frozen, then it's being made the protocol works. So a moment a transaction is frozen,
then it's being made on our blockchain.
And when it's being made public there,
people can stake on it.
So if a hack is reversed, those always are made public.
The issue with, or the confusion is
with what happens with Aegis.
So projects that use Aegis,
they don't want to announce when a hack has been prevented
or they saw an attack
or they have noticed an issue with their smart contracts.
So that's an issue with Aegis.
So those kinds of partners are okay to announce
that they are using the tool,
but they don't want to announce if, oh, we almost got hacked and we're going to announce that. So they don't want to do that. And we always try to respect those kinds of, let's say, desires or requests by the clients and by the partners.
So we don't announce them as well on our end.
And we try to keep that information
as rapid as possible,
because one of the issues that you have to keep in mind
is that if we do announce it
and they do not have the time to patch the issue
or basically fix the problem,
if it's a smart contract problem
or some other kind of problem,
then it just leaves an open window
for them to get attacked again.
So that's why those kinds of announcements
or those kinds of posts have not been made for ages.
But when it comes to tokens being reversed,
those are always being made available.
We write our articles for them as well.
So yeah, do not worry about tokens being reversed
and you being informed, that's always gonna happen.
Jumping into the next questions.
I don't see any new ones,
so I'm just gonna continue through my list.
How is the project's financial situation?
And if the funds are low, what's the plan?
So one of the things that you have to keep in mind
is that the raise that the project did
at the very early beginnings,
some of those funds are still available to us.
There's also a lot of grants that we have gained over time.
So a lot of the costs of us expanding into other chains
and things like that have been covered by those grants.
So we do have, let's say, a good amount
to still keep going on.
We should be at the very least two more years
with all of the additional funds that have come in. One of the things that
we want to do is to never have to sell tokens. So if the funds are low, let's say we get to that
point and we're very low on funds, we don't want to sell tokens into the open market to do that.
We might consider another fundraise maybe,
but that's gonna be, let's say, after two years.
So if in two years, things just keep getting worse,
then maybe we'll think about that.
But we don't plan on selling any tokens.
We don't plan on doing any fundraising right now.
We do not plan on doing basically anything
that could cause the price of the tokens to go down.
You can always track the treasury wallet.
As you can see, we do not sell.
The only reason why tokens are moved there,
it's because we need to provide liquidity on exchanges.
We need to improve some things with
with volume some sort of let's say if we do any payment in in lossless it's we don't sell it we
just provide the lossless and we always do investing schedules and things like that so
in any case we all are very mindful whenever tokens come out of the treasury and that is very, very rare, as you can see as well.
It's everything's on chain.
So yeah, we're not gonna be looking to sell
any kind of token to basically fund the operations.
That's kind of like the simplest answer
that I can give there.
The next question is, here it says 55% of the token circulation,
is the person asking.
I would suggest to use CoinGecko to track how many tokens are there
because CoinGecko tracks our treasury wallet.
And when will the rest be released?
So we don't have a plan to release tokens, as I mentioned.
We want to release as little tokens as possible.
So there's as fewer supply of tokens out there as it can be.
If we do release tokens, it's either gonna be
because we want to do rewards for the ecosystem.
So the grants
program that we have announced uh as well that's like one of the ways that we would like to basically
release tokens so we're not going to release tokens to any other investor because there's
no one left that needs to be received receiving tokens uh we're not gonna sell them. So if we do release tokens, it's just gonna be
either we end up getting a listing somewhere
or we're gonna engage into marketing campaigns as well
that we might use the token,
or we're gonna do ecosystem expansions.
So it's only gonna be used to expand the project
and it's not gonna be used to sell for USDT at any point.
So going into the second to last.
Here it's a question about how many contracts are from projects and from retail on the 2000 plus contracts that we mentioned on the website.
Here, most of the contracts are project contracts because project contracts, you have to keep in mind that they might have, for example, if a project has
pools, for example, each pool has its own specific contract and all of those need to be tracked
separately. So when projects like that are using our protocol, then that really, let's say,
changes the value. So most of those contracts are project contracts,
and retail kind of like adds and removes all the time.
So there's no, I cannot say a percent,
but basically more than half of them
are project contracts that are being protected.
And we want as many project contracts as possible
to be protected compared to retail,
because then we can have basically more revenue that way. we want as many project contracts as possible to be protected compared to retail because
then we can have basically more revenue that way. And the last questions that I have here is,
are there any plans for token buybacks and burns? So one of the things that we have mentioned before
is that we don't like to do burns very much, or we don't see a point to them.
And then some time ago, if you go back to the chat,
I have announced that we have taken everything,
basically put everything on the table.
That includes buybacks, that includes burns as well.
One of the issues with buybacks
is that we don't want to do just one buyback.
We wanna find a way to be able to generate buybacks every month or as often as possible.
So to do that, we need to find, let's say, a better way to generate enough revenue for us to do so.
So far, we haven't been able to do that.
But yes, if we are able to turn one of the services
into a good source of revenue,
buybacks are definitely on the table.
And it comes to burns.
We have started to consider that.
We are looking into what kind of burn would be the best,
maybe burning treasury tokens,
maybe that could be a boost,
or maybe we can look into the exchanges
that were currently there.
Maybe you can burn some tokens
from the liquidity that we have there.
Those are all things that are being considered.
We haven't decided yet on anything.
Now we might do some campaigns,
some social campaigns as well,
where depending on how you guys engage,
that increases the amount of tokens
that we burn but we haven't yet decided but all of those are kind of like in the works as plans that
we would like to to do so yeah hopefully that answers that but yeah that's that's all the
questions that we have so far one thing that's missing there uh because
i know that people are going to ask and uh i wonder why um we didn't mention that um
are there gonna be more listings in the future um
uh what we have announced before is that uh there are some smaller exchanges that people do
suggest all the time like McSee or some other exchange that is not as popular as the bigger
ones and they always mention that if we're listed into more exchanges we're going to
have more visibility and volume is going to increase.
So that's not necessarily the case.
What happens once you list on an exchange,
if they are not open to basically do marketing with you
or push your project more than just one week,
then what happens is there's a small spike
that week that they do the marketing
and then nothing happens to there's a small spike that week that they do the marketing and then nothing
happens to basically boost your project um so we don't want to let's say get uh in in trouble or cause any trouble to the token because we do have to provide liquidity we do have to provide tokens
to the to these exchanges as well uh we don't want to be in a case where they boost us just for one week.
And once the price goes up because they boost the, let's say, the token, then they just
end up selling everything on the holders. So we have seen that with smaller projects
as well. And we don't want to have that experience at the very least to protect the holders because we're not open to selling any
tokens of our own so there's no gain for us and the only people that would be losing here would
be the will be the holders uh but uh we are open to exchanges as long as those are the people so
the exchanges that we want to um to get to get into are Binance, Coinbase, Kraken, OKEx, so basically the bigger ones.
If we have a way to get into those, then yes, we're willing to pay any price that they ask us,
or we're able to meet any kind of requirement that they have.
The best way that we can do that is we either showcase that we have an actual ecosystem or our project is very good or the fundamentals of the projects are very good.
And these exchanges are very interested into listing.
As the market gets more bullish, the opportunity gets better where they're more open to listing projects that don't have as much volume,
but that have good fundamentals or are good for the space,
or they would look good at listing them.
And any kind of exchange would look good
if they listed a project like us.
So we're trying to create this ecosystem
and we're trying to expand the ecosystem
and tell them that, look, we have other protocols
that are being built on top of lossless.
We have more users now.
We have, let's say different projects
that are popular on Twitter that are built on us as well.
So that's probably the best way to get listed on them
and get their attention.
And even if the volume stays low
or even if the market cap stays low,
as long as we do it that way we have a better chance
than just paying kols to increase the volume for like a month or a week and then just try to get
listed that way because that just doesn't happen and unless you get listed on these big exchanges
the smaller ones don't really have the impact that everyone here seems to think.
Only the bigger exchanges do have those actual people that trade or all of those market makers that provide all of those services.
So, yeah, that's something that we are trying to do is just try to get into the bigger exchanges.
And the smaller ones that do not have any impact or any positive
impact, we're just trying to avoid so it doesn't hurt the holders. And also here when it comes to
the availability of the token, we're currently listed on KuCoin and Gate.io.
So those two exchanges kind of cover every country that these kind of exchanges work other than the US.
For that, we might need to either get on Binance US or into Coinbase.
But as always, the token is always available on the chain.
So if people wanna get it that way,
the fees are lower now that they used to be,
but these are still expensive, so we understand that.
But yeah, we'll try to get listed into those exchanges.
As always, we cannot guarantee that we will,
but we will try regardless um the best that we can
okay i think that i've spoken for quite a bit um let me see if there are any kind of questions
uh if we collaborate with a wallet like Solflare or Phantom,
could you bypass the need to collaborate
with each ecosystem?
So when it comes to working with wallets,
we would very much like to get to work with some of them.
Some of the wallets have found other ways
to implement security features themselves
or similar security features that we offer through other vendors
as well. A while ago, we did mention that we were speaking with a wallet to kind of
be integrated into their ecosystem. The issue there was that the features that they wanted
were not exactly what we were offering. And for us to build that infrastructure that requires a lot of work
we're still discussing or the opportunity is still there to provide some sort of service but
it's you have to keep in mind that implementing these kind of services in a wallet that big so
the wallet that we're speaking to i cannot say the name, but you can think of it,
it's as big as phantom, basically, as big as phantom wallet, if not bigger. So yeah, we're
speaking with that project and there's still an opportunity for us to work with them. It just
needs to be, let's say, the right service offering on our end as well and the right thing that they
need on their end because they're
still looking into options they're still thinking how they want to implement the security feature
and if they're not clear of what they want then we're not clear on what we can offer as well
but yeah that's definitely let's say the highest priority thing that would get us back to where we are, if not higher, getting into
that integration. But yes, integration with wallets would be very good. We have reached
out to several of them, but not all of them are open to work. Most of them just want to
do their own thing and they just end up copying the same features and doing like the bare bones of what we do.
So yeah, that's, that's the situation there with the wallets. If we have the opportunity, we currently have two right now, we will try to
capitalize on it.
Onto the next question.
Connection with bank of France, can I explain anything to come out
from it? So when we got into the Bank of France, the announcement, basically we are part of their
verified providers for the space. So what that means if one institution goes to, let's say,
their database and they search for a security provider for cryptocurrencies or smart contracts,
we would show up there as someone that's being verified by the Bank of France
because they've seen how our product works.
Because we did a demo for them, we did win the competition that they had.
So we are verified there.
We're trying to get in touch with them if there's any institutions, especially with more regulation coming in.
But we haven't received any interest so far.
There were some questions that they asked us at some point, and we were hoping to get some institutions there.
An institution is not necessarily another bank. It might be an investment firm or like a family office.
It's called like when people manage,
let's say millions of dollars.
And that was what we were trying to figure out with them.
We still have that connection.
We try to get in touch with them as often as we can.
And we're gonna see if one of those let's say
interested parties translates into into our first let's say non-crypto partner or client
but yeah what we're trying to to to get into into that space as well
space as well okay uh let me see if there's any other questions opening
here as well maybe there's some questions on telegram yeah okay
How long can we go on for with current burn rate?
Answer this.
We can probably make it to two years, current burn rate.
Why not plans on small exchanges?
As I mentioned, it only costs us money, time, resources,
and it brings no value to smaller tokens.
It brings no value.
If you're already listed on KuCoin and Gate, getting listed on MexC doesn't do anything.
Yeah, it's simple as that.
If you see other projects that are doing that, they're probably working very closely with the exchange.
That's all I'm gonna say there.
Other questions?
Do you know how many individual projects those are?
Not exactly sure for which one.
If you were asking about the total amount,
like how many of those projects,
we have like 50 plus projects that do make up for,
let's say that have contracts into that 2000 plus number.
So it's around 50 plus.
I do not know the exact number
because some of them do end up removing contracts
here and there, but the number should be close to 50.
And it's not all like a project.
It's usually dev teams as well.
So let's say it's a team with three devs,
and they do research, or they do security services,
and they have used the feature that way
where they add smart contracts, and and they alert and they do that.
So, yeah, that answers that.
So, those are the questions on Telegram as well.
And, yeah.
Okay.
I think we have answered everything there was.
I think we have answered everything there was
in the meantime, when it comes to some other updates,
as you guys know, one of the things that we really like to do
is spend some time on development.
And recently, as mentioned as well,
we will try to spend some less time on developing the product and just maintain it
and then try to focus a bit more on marketing.
I did mention in one of the questions
that marketing has a lot to do with timing.
We don't want to end up spending a lot of the budget
that we have towards marketing
and the timing is not correct
and it ends up just being wasted.
One of the things that you guys need to keep in mind
is that even though Bitcoin is still at 100 plus K,
like this is amazing.
It's like everyone knows about it, right?
So you can see it on the news and everywhere else,
but it's still just bitcoin um ethereum is
still nowhere near the highs um solana is still nowhere near the highs any of the bigger tokens
are nowhere near the the previous highs as well um you see the situation with like meme coins
other utility coins like smaller utility projects as well Those are not like they are doing better
than they used to do because of Bitcoin,
but they're still nowhere near the highs
or making new highs or anything like that.
So it's still not a bull market in the altcoin space.
Once that starts, then we have a better incentive
to just start doing the marketing,
start pushing a lot more
because those are the times for us to,
let's say start using our budget
because though that during that time,
we see the better response from the people
that see basically the ads or the shout outs or anything else.
Because if we do it right now, what happens is,
let's say we pay the kol they tweet
all of the reviewers look at it but since it's a bear market for for tokens for altcoins where if
bitcoin drops one percent everything drops ten percent then they're just not willing to take
that risk so we don't want to have that happen to us so we're trying to time it a lot better
We don't want to have that happen to us, so we're trying to time it a lot better.
Have we approached real-world asset projects?
Yes, we have.
We have reached a few of them.
One of the issues with them is they needed...
Some of them that are based in the U.S, they cannot work with us because we have a crypto
and our crypto is based in the EU
and we do not match the same regulations.
So it was a headache for them.
They didn't want to do that.
But these real world asset projects,
they have some other security things that are,
let's say non-crypto based,
but using other services as well.
Like if you've heard of CrowdStrike, for example,
that might be using those kinds of things for their devices.
But, yeah, we have reached out to them,
and we would like to keep expanding our contacts there.
So that's one of the places where we'd like to kind of
expand the ecosystem and the network.
And we'll try to get more contacts,
but we have not seen the traction that we thought we would,
but I'm pretty sure as these real-world projects
start expanding and as new ones come out,
definitely they're gonna to be interested and
we're looking very closely to start working with them
okay let me see if there's any last minute questions
uh okay there was there's a a question about uh pricing. I cannot say anything about that.
Like Robin Hoddle, nice name.
Is $8 lossless possible?
Anything is possible.
If you look at how many tokens there are,
there's 100 million tokens that exist.
So at $8, that's on a 100 million market cap.
So wouldn't be like the most impossible thing.
We want to get back to where we were first,
and then we can start looking into,
let's say those kinds of levels.
So we want to go back to 10 cents,
then we go to 25, then 40, then 70, 90, $1.02.
We want to focus on getting back to where we were first
and then start discussing about new heights
or new pricings or anything like that.
And as always, we don't like to mention like a target.
We're not having a target in mind.
If it was up to ups, we would like to go to a million.
If we can take the token to a million, that would be great.
But yeah, our focus is let's get the token back
to where it was and then start targeting
even higher after that.
But we need to get back to where
we were first okay uh let's see any more questions
Yeah, okay.
I think we're about to...
Ah, what happened to Google funding for startups?
Those are not cash that they give you.
Those are credits.
So all the projects that announce that startup partnership,
the Google funding is credits for cloud products.
So we're still using them.
Our, let's say cloud services are still based on Google.
So we're using all of those credits still.
So it's not that we have the 100K
that we announced in cash.
It's all in credits that we have to use on their services.
If it was cash, you'd know about it
we would say it was cash but it's not um do you have any big news punishes yet I have mentioned before SWEAT Economy and Change EPT.
Those are the ones that we're currently working on.
We haven't landed a partnership yet with any of them, but we're figuring out how we can
work together with SWEAT.
It's more about finding a way to expand the ecosystem
with ChangeGPT, it's about building some new tools.
So yeah, that's kind of the answer that I can give.
When it comes to others,
we discuss with tons of projects all the time,
but not all of them end up translating into partnerships
Ethan we did answer this the plan about getting listed is if we can get into the bigger exchanges
about getting listed is if we can get into the bigger exchanges,
we'll do everything to get into them.
Basically, Binance, Coinbase, Kraken, OKEx.
As long as he's one of the big ones and we have an opportunity to list there,
we're going to basically do whatever they require us to get listed there.
Smaller exchanges, anything that's smaller than Coin or Gate,
we're just it doesn't do anything for us.
It just adds more costs and it just adds
more pressure to, or it more hurts
the holders rather than helps them.
So we don't want to basically do anything
anything to put any down pressure on the token.
to put any down pressure on the token.
Quick comment here from Sven saying only 10 participants.
Sven, you have to keep in mind that
the number of participants has to do a lot of the time.
It's a Friday, everyone, the time is different a more a lot more people are going to
listen to the recording as well compared to to the live session we have had spaces when we were
a lot higher in price with less listeners as well so do not i'd say do not do not judge just by this number.
Stacking, stacking will speak with KuCoin there.
We might redo it.
We might re-enable it as well.
So yeah, staking, if we do it, it's gonna be done through KuCoin because our own protocol does not support it.
So that's something that's on the table.
As I mentioned, if we end up releasing tokens from the treasury, it's going to be because we do staking through the exchanges.
The ecosystem, the ecosystem is basically all of the projects that build with our Minter.
So let's say Vulkan, for example,
that did relaunch a long time ago with our token,
that's part of the ecosystem.
So it's not necessarily a launchpad but teams can
basically build their token on top of lossless which gives them the ability to recover the
tokens and everything else and the that's the let's say the the core utility of the token as well when if anything is hacked you need to use lossless to report um let's say the uh the
transaction and then we go into it a vote happens if uh the report is let's say okay or if it's
verified then those tokens are covered if not then the funding that you provided is flashed and
recovered. If not, then the funding that you provided is flashed and, you know, we recover,
we take a 7% fee. Some of those are distributed to people that stake on the report and some
of those are kept by us, the protocol. But yeah, all of those fees that we would take from the recovery, those would be part of how we would like to do the buybacks for sure.
I am happy that you're happy, Sven.
I am happy that you're happy.
Even though sometimes you're negative, but that's okay.
We like all of the comments that we get,
all of the feedback, always helpful.
Who are the third party that verify hacks?
That's the security committee that we have.
Usually we don't need to involve them
because for the most part,
the reports have been very,
very straightforward.
So, yeah.
But if we have to, if the protocol votes yes, and we vote no, then the security committee
gets involved.
And those are all people like with security backgrounds, people that worked with MetaMask. They're great like experts in the field.
We will try to be more active on Twitter, LinkedIn. Twitter more specifically, yes.
LinkedIn will try to post more, but there's no engagement that we get from LinkedIn
LinkedIn is more if we want to target some people specifically but
LinkedIn hasn't done much for us so we have been less active there but Twitter we'll try to
to pick that up and we'll try to be a bit more involved,
even if we cannot, let's say, help with a hack,
we'll try to be more involved with those kinds of things
that are going on in the space.
Okay.
I'm gonna be here for the next 10 minutes still.
So if you have any last questions,
this is the time to do it so in your comment
but it doesn't show up for me so
not sure where that went
Also, very quickly, I would like you guys to highly appreciate the work that Yao and Dave
do as moderators.
They go through, I don't know, maybe hundreds of scam accounts every week, deleting messages,
banning accounts, doing all of that great work,
responding to people as well when I'm not available.
So I would like to just thank the mods
for all of the work that they do
because they do help quite a lot with moderating and scams,
especially targeting retail people,
have never been worse.
Even the recent hacks as well.
One of the main things that we were kind of like pushed towards
making the protocol more of the highlight or more of the focus
is that even with ages, if let's say the
North Korean groups attack you, they will not attack the smart contracts. They will attack you
as the person, or they will try to social engineer you where they will convince you to give out the
keys, or they will convince you to approve a transaction or like they will find the correct way
to convince you that they are someone else and you are going to end up giving them the tokens.
Aegis in that case cannot do anything because everything is okay in the code like the small
contract is never touched but the our protocol would be able to intervene there because once they figure out, oh, this
is not the right person, they can just report it and freeze it.
So like all of those hacks, especially the bindbit one, if they had, let's say, wrapped
all of those tokens in lossless, they would have been frozen immediately and they would
have been frozen immediately and they would have been recovered. So the losses that would have been zero cents basically.
And yeah, that's why we're really pushing the idea
of the ecosystem, we're really pushing the idea
of having more projects built on top of us
because all of these new ways that projects are being hacked
and funds are being lost is through these new ways of social engineering
where the smart contract might be not touched at all
and you still end up losing all of the funds.
So, yeah.
Please be active on Twitter.
Yes, we will increase activity on Twitter.
That is a guarantee.
If we're not more active on Twitter, you can keep spamming me,
and, yeah, I will be more...
I will say, yes, we weren't't active and it will be more active so
okay um i think uh we're close to to ending it i don't see any last minute question um thank you
everyone for being here thank you all for the questions. I highly appreciate all the patience. I know it's not been easy seeing the token lose a lot of the value.
It's something that we're absolutely not happy at all to see the token being at the price it currently is.
I don't want you to get the idea that we don't care about it.
We really do.
Everything that we're trying to do is to
basically make the the token more valuable but since you know there are regulations out there
we cannot just you know tell people hey please go buy the token or you know there are some
regulations that uh we have to to comply with and if you're a security protocol like we are, and we try to do all of those scammy stuff,
all of those pumping up, let's say strategies,
what happens is we kind of start losing
all of those partnerships.
You know, the Bank of France is the first one
that would go away if we start doing that
because they don't want to basically work with projects
that do those kinds of things.
So we are always looking to find the best way to add more value to the token.
We're looking to more utilities, buybacks, burns,
everything that you have asked, we're looking into all of them.
Everything is back on the table.
We're trying to be more agile and we're trying to build tools
and we're trying to initiate campaigns when it makes
the most sense and uh when we can have the the best value for the holders um so yeah those are
kind of like uh the questions and the current situation so yeah thank you all again for tuning
in uh we will have a wrap up uh up of the call for everyone to go over.
It's gonna be like a Twitter article thing.
So you'll be able to translate it in your own language
if you're having issues with English.
So yeah.
Okay, everyone, thank you for tuning in.
We'll try to have these spaces a bit more often and see you all on the next one Thank you.
