The new DEFI platform enters the market! Earn passively - token sale 0.25 $ I'm going in!

How to increase DeFi security

4 min reading

Here are some ways you could protect your DeFi security.


Creating cryptocurrency from scratch is not easy. This requires, among other things, in-depth knowledge of various programming languages and knowledge of blockchain usage. Instead of getting into that hassle, those new to the crypto space looking to start their own projects tend to use tokens. Tokens are crypto assets that exist in an ecosystem, such as Ethereum-based projects. The token may be compatible with any Ethereum-based asset that uses the same token standard, but will not be compatible across cryptocurrencies.

In essence, tokens allow someone to build their business or idea on a blockchain without much effort required to build a cryptocurrency from scratch. However, creating it brings its own issues such as legality, cost, and security of smart contracts.

Crypto security standards

With the growing demand for decentralized funding (DeFi), platforms are experiencing more hacks than ever before. The DeFi hack has cost consumers more than $1.9 billion so far in 2021, which means token security is more important than ever. Unfortunately, there is no easy solution to such a threat.

Some experienced contract developer projects may not be able to bear their failures before they even start. For an industry that is trying to go mainstream and requires developers from all backgrounds to start their own token projects, security requires standards. Otherwise, that $1.9 billion would likely be much higher.

Projects and developers need an easier way to secure token security. However, there are blockchain projects that support new developers - platforms that generate tokens with pre-built security standards to ensure developers have a base.

Optimized token development

A decentralized token provisioning application (DApp) allows users to copy and provision their own tokens through a Web 3.0 portfolio. The token follows all the required standards for the chosen blockchain and benefits from the security and efficiency of the blockchain. Of course, such a project must have pre-checked code and a DApp for its implementation requires a solid developer and a strong team behind it.

The project, which currently exists in the same form, is lossless. It is a multi-chain protocol that reduces DeFi hacks through custom code that is embedded into their own projects. By inserting the code into the token without loss, the token generator is protected from fraudulent transactions.

No loss solution

Lossless works by integrating a user-generated hack detection bot that blocks suspicious transactions. Bots are created by white hat hackers who join the network and win prizes every time their bot finds a hack.

Lossless recently released a Token Minter feature that allows developers to copy their own smart token contracts to the Ethereum (ETH), Polygon (MATIC) and Binance Smart Chain (BSC) networks. The project code is pre-checked and offers users a secure way to launch their own tokens. Lossless tokens are also made free, so consumers only have to pay a one-time gas fee to execute the contract. Miners can choose to pay for a third-party security audit from cybersecurity company Hack.

Tokens that are truncated in lossless have a built-in active code that is activated when the lossless security protocol is started. Of course, code sleep goes hand in hand with other lossless security features. The lossless extracting tool was developed as an experimental feature so that users can test this security for themselves. It cuts tokens in minutes and allows anyone to lay the groundwork for their idea. Lossless describes the tool as “a free tool for everyone to create and provision contracts with tokens on demand from ETH, BSC, and Polygon. You conclude your contract within minutes. Come on, start playing and experimenting with it."

Currency Exchange rate Buy cryptocurrency

Buy crypto now

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Lushup Holdings FZ LEE. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is Lushup Holdings FZ LEE, Fujairah - Creative Tower, P.O.Box 4422 Fujairah, United Arabs Emirates.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.