Print Page - Amulet - defi web3 cover protocol

I would like to add to the comment above.
This project will solve:
1. Vulnerability of smart contracts: hacking of smart contracts is a trend of the 21st and 22nd years.
2. Dispatches of stablecoins: there are no comments here, after the UST case, everyone knows that stablecoins are not so stable.
3. Protection of NFT and wallets in development.
And
Risk underwriting and claims coverage are at the heart of any risk protection business. However, all existing Decentralized Finance RPPs ("DeFi") have faced a critical resiliency issue with respect to risk underwriting and claims coverage.
Amulet is creating an industry-first approach to risk protection based on protocol-controlled reserves ("PCR") in which Amulet will build reserves and implement a claims structure that incorporates a unique yield justification method ("YBC"). This is a significant change from the existing model of simply raising underwriters' capital directly to pay claims.
Social network:
Twitter - https://twitter.com/AmuletProtocol
Website - https://amulet.org/
If you are interested, then here is a complete guide - https://teletype.in/@metisovich/hhB6jjZ9wuD

Amulet Protocol is Simple, Reliable Cover For Everyone in Web3
Maximum protection and yield, fully protected through Protocol Controlled Underwriting

Cover
Only 2% of digital assets in our industry are protected. Amulet Protocol offers additional protection to your digital assets with an array of solutions including smart contract vulnerability, stablecoin de-peg and NFT cover options.

Stake
Easily stake with peace of mind on Amulet Protocol. Amulet Protocol has 3 layers of protection between claims and assets. Staking is easy to do and more importantly, with the highest level of security behind it.

Earn
Amulet Protocol is built on advanced technology. Our hybrid claims management will see full automation on situations such as a trigger of a stablecoin depegging leading to payouts. Amulet Protocol also manages claim payouts through its DAO mode.

Earn points:
https://amunation.amulet.org/home (https://amunation.amulet.org/home)

Try Testnet:
https://testnet.amulet.org/earn/sol-staking (https://testnet.amulet.org/earn/sol-staking)

Our Discord:
https://discord.com/invite/amuletprotocol (https://discord.com/invite/amuletprotocol)

AmuNation App is our application for the AmuNation to make it fun and appealing to promote our project while being rewarded with AmuPoints that can be collected and exchanged for eye-watering rewards.

Our gamified community app has levels leading up to the most-rewarding Level 5. Each day, our community can return to the AmuNation App to complete simple tasks which will be rewarded with AmuPoints. The more points earned, the quicker you can level up.

Each level within the app has its own rewards and the top 3 levels unlock incredible Amulet NFTs which have value and also increases the status of the community member. Our NFTs enable great perks and secures your place in the heart of the AmuNation.

In simple, our AmuNation app is a bounty app that truly rewards the dedication of the hard work undertaken by the user.

As of the launch of the app, we currently have 5 levels that can be achieved:

AmuNation Newbie: The starting point for the AmuNation
AmuNation Beginner: Excellent start, Whitelist!
AmuNation Student: Getting better, Airdrop time!
AmuNation Expert: Wow, doing awesome, NFT Bronze!
AmuNation Master: Nearly a champ! NFT Silver!
AmuNation Mythical: AmuLegend! NFT Gold! Ultimate Rewards!

The most dedicated AmuNation members will receive the highest accolade for their true grit and determination in promoting Amulet Protocol to the max!

As of the launch of our bounty campaign, there are three types of Amulet NFTs:

Gold: Highest rewards and cost.
Silver: Mid range rewards and cost.
Bronze: Lowest rewards and cost.

Sign up to the AmuNation App here: https://amunation.amulet.org/

Amulet, the first rust-based DeFi risk protection protocol, raises $6m in seed funding, led by gumi Cryptos Capital. 

Investors

The seed round is led by gumi Cryptos Capital, joined by Republic Capital, Solana Ventures, DeFiance Capital, Animoca Brands, UOB and Signum Ventures, Mirana Ventures, NGC, Longhash, Signum, SevenX Ventures, Digital Strategies, CMT Digital, Matrixport Ventures, a41 Ventures, Solar Ecofund, Daedalus Angels, Cobo Wallet, Re7 Capital, NetZero Capital and a few ecosystem partners such as Serum and Acala Network.

Amulet is being built with a vision of simple, reliable cover for everyone in Web3. The solution will be the first built on the Solana network and has been supported by Solana Ventures, who are also investors in the project. 

Partners

Serum, Port, Tulip, Francium, Delta, Kudelski.

Amulet utilises Solana’s PoS network to provide stable returns and provide cover services with their unique Protocol Controlled Underwriting and Future Yield Backed Claim mechanism, which minimizes the risk for the underwriting capital providers.

In 2021, there was over $10bn lost due to various hacks and frauds in the crypto space, including $2.6bn in exploits on DeFi protocols (according to this Immunefi report). A lack of sustainable design and coverage gaps has led to cover options being persistently undervalued in the DeFi space and as a result, very little of that “lost money” has been recovered. This is a concern in the wider world too, for Metaverse, GameFi and the broader WEB3 space. 

The market needs better cover solutions and until the launch of Amulet, there has yet to be an offering available to DeFi investors. Amulet will be the first Rust-based DeFi risk protection protocol, initially deployed on Solana, and has been built to address the high market demand.

Amulet will adopt a multi-chain strategy and deploy to other non-EVM based ecosystems along the road.

Amulet is also targeting to be the first protocol to offer GameFi & NFT asset cover, Metaverse life and Property cover, and other protections for the rising WEB3 world. 

AMULET PROTOCOL
What is an amulet (AMT)? AMT. Cryptocurrency details
What is an amulet?
Amulet Protocol is Defu’s first insurance protocol for the Rust-based ecosystem. The project will initially run on the Solana blockchain and provide an insurance solution for everyone in Web3.
As Solana has become the primary Tier 1 solution, Amulet anticipates the need for insurance and other risk management solutions in Solana and broader Rust-based ecosystems to soon see their own boom.

This presents Amulet with a huge opportunity to meet the market’s growing need for security. The project is also backed by Solana Ventures, which is also an investor in the project.

What’s special about Amulet?
Some of Amulet’s key features are
A planned ecosystem with multiple tokens.
Users can protect the blockchain in multiple ways with a protocol that protects investors and secures payments using a protocol-controlled underwriting value (PCUV) unique to Amulet.
Provide smart contract assurance and cancel stablenecking of stablenecking. Soon we will provide real estate insurance for NFT, Metaverse and fi game.
A multi-chain and scalable strategy focused on the Rust ecosystem.
PCUV summary.
Underwriting and claims are at the heart of any insurance business. However, all existing Decentralized Finance Insurance (DeFi) protocols face a major sustainability challenge in terms of underwriting and claims.

Amulet is creating the industry’s first PCUV approach. In it, Amulet will create its own underwriting capability and present a claims structure that includes multiple levels of completion. This is a significant departure from established underwriting outsourcing models from capital providers to a more sustainable underwriting structure and protocol-based claims.

PCUV accumulates a pool of secured income claims — a pool of earnings claims, treasuries and other classes of reserves to mitigate losses from deposit capital. In other words, the protocol develops and manages risk on both sides of the bilateral insurance market (for users and creators).

Thus, a larger asset base generates more platform income, which is loaded to users -> This attracts more capital -> All while balancing the needs of platform users one by one in a sustainable manner.

AMT Tokenomics
Key Metrics.
Ticker: AMT.
Blockchain: Solana.
Standard token: SPL.
Token type: utility, management.
Total supply: 1,000,000,000 XNUMX AMD.

Example of token usage.
Contribute to the protocol management of development initiatives, including use of funds, reward distribution plans, plans, etc.
Revenue Sharing: Amulet will share the revenue generated with the AMT token holder. A portion of the treasury revenue will go to long-term AMT holders.
Future AMT Reward Increase: Initial parameters will have a set of staker reward levels.
Membership and Loyalty Program: Amulet will create a membership and loyalty program for token holders.

Hosting AMT brand wallet
You can save to Coin98 wallet.

Enter the Coin98 wallet referral ID as “C98NBDN89Q” to support BTA.

Team Amulets

Amulet is built from the ground up and led by Rupert Barksfield, a serial entrepreneur with more than 15 years of experience in technology who started cryptocurrencies in 2016.

Investors
Amulet successfully raised $6 million in its first funding round. The seed round is led by Gumi Cryptos Capital, joined by Republic Capital, Solana Ventures, DeFiance Capital, Animoca Brands, UOB and Signum Ventures, Mirana Ventures.

#amuletprotocol #crypto #cryptocurrency #amunation

AMUNATION
To begin with a short introduction to refresh your memory, literally in the abstract:

The DeFi sector grew over 27 times in 1.5–2 years ( from $9.7 billion to $261.2 billion)
The massive growth of this sector provokes numerous losses due to hacking, market volatility, holes in smart contracts, etc.
Accordingly, there is a strong demand for risk hedging, the most popular of which is insurance.
A factor such as the total volume of TVL for networks, for example, TVL on Solana grows 5 times faster than on ETH, forges demand on risks hedging.
And that’s where a project called Amulet Protocol comes on the scene — it’s a DeFi insurance protocol for the Rust-based ecosystem with an initial deployment on Solana.

Amulet is being built with the prospect of simple, reliable insurance for all in Web3. The solution will be the first to be built on the Solana network and has been backed by Solana Ventures, which is also an investor in the project.

Amulet uses Solana’s proof-of-stake network to provide stable returns and insurance services through a unique Protocol Controlled Underwriting and Future Yield Backed Claim mechanism that minimizes risk to capital providers for underwriting.

In 2021, more than $10 billion was lost in the cryptocurrency space due to various hacks and frauds, including $2.6 billion due to DeFi protocol exploits, according to an Immunefi report.

The market needs better insurance solutions, and before the launch of Amulet, DeFi investors did not have that option. Amulet will be DeFi’s first Rust-based insurance protocol, originally deployed on the Solana network and built to meet this high market demand.

Amulet will adopt a cross-chain strategy and deploy it to other ecosystems not based on the Ethereum virtual machine along the way.

But most importantly, Amulet gives users the opportunity to help protect the blockchain by participating in liquid betting and insurance, which will again be done through a single protocol. Thus, Amulet will be designed with transparency in mind, with a focus on developing the project in collaboration with the security community.

If you know English well, you can carefully read the infographic below, which schematically explains the structure of the protocol process.

Positively, we can distinguish 3 main areas of the protocol, these are:

Insurance — the ability to protect the value of your assets with: smart contract insurance, stable coin depeg insurance and NFT insurance.
Steering — the ability to put your assets in Amulet with peace of mind. Amulet is the only insurance protocol that includes 3 levels of protection between claims and your assets.
Earnings — Hybrid claim management: automatic payouts when you depeg stable coins and claim management when you confirm DAO.

Solana TVL (Total Value Locked) has grown faster than Ethereum (ETH), but currently there is no native insurance protocol. Amulet was the first. Amulet utilises Solana’s PoS network to provide stable returns and provide insurance services with their unique Protocol Controlled Underwriting and Future Yield Backed.

The Claim Mechanism reduces risk for underwriting capital provider. According to the Immunefi report, $10bn was lost to frauds and hacks in cryptospace in 2021. This includes $2.6bn from exploits on DeFi protocols. A lack of sustainable design and coverage gaps has led to insurance being persistently undervalued in the DeFi space and as a result, very little of that “lost money” has been recovered. This concern is also present in the wider WEB3 world, including Metaverse, GameFi, and the broader WEB3.

Amulet will provide better options for insurance. DeFi investors have not had access to an offer like Amulet until now. Amulet is the first Rust-based DeFi Insurance protocol. It was initially deployed on Solana and has been designed to meet high market demand. Amulet will use a multi-chain strategy to deploy to other non EVM-based ecosystems.

Amulet (AMT) — I seem to have stumbled upon a gem
Amulet — Simple and reliable coverage for everyone on Web3. Maximum protection and yield, fully protected with protocol-controlled underwriting.
Cover

Only 2% of digital assets in our industry are protected. Amulet Protocol offers additional protection for your digital assets with a variety of solutions, including smart contract vulnerability, Stablecoin deprivation, and NFT coverage options.

Stake

It’s easy and safe to bet on Amulet Protocol. Amulet Protocol has 3 levels of protection between staking and assets. Betting is easy and, more importantly, with the highest level of security.

Earn

Amulet Protocol is built on advanced technology. Our hybrid stigma management will be fully automated in situations such as a stable coin deprivation trigger leading to payouts. Amulet Protocol also manages stigma payouts through its DAO model.

It doesn’t make any sense, does it?) Then here it is… investors: Solana Ventures, DeFiance Capital, Animoka Brands, Republic, etc. Raised $6 million.

Anyway, now there’s an opportunity to increase your quests, to accumulate points. Earning points you raise your level and get stuff like whitelist or NFT.

What to do?

Going to the project site and register your chosen way (I have a purse Phantom regaired)
Perform tasks

There are a lot of tasks for different tastes, and judging by the looks of things will be added new ones. Even the fact that you are reading this post right now, it’s me doing one of the tasks😂 There are trivial subscriptions, reposts, but there are more complicated tasks. Even the way the contest form is done speaks volumes about the straightforwardness of the developers.

In general, I advise you not to pass by and do at least those tasks that you can do.

I will keep an eye on the project

An effective product protection solution in Web3.
Amulet Protocol is a decentralized insurance protocol designed for DeFi, NFT insurance based on Rust. Decentralized risk protection protocols provide financial security for all users interacting with Web3 financial products. They typically cover smart-contract risk, Stablecoin deprivation risk, reduction risk, oracle failures, economic exploits, etc. Smart contract risk is particularly significant because more than $3 billion was lost in 2021 due to smart contract hacks. By offering protection against these more common types of DeFi risk, as well as offerings related to NFT and the meta-universe, users and developers can enjoy a more secure Web3 through Amulet.

Existing DeFi risk protection protocols rely on outside underwriters to provide capital for claims and capacity coverage, creating unique and complex business resiliency issues. Amulet is creating the risk protection industry’s first protocol-controlled underwriting (PCU) approach. This is a significant change from the current underwriting capital lease model.

Weekly reports, frequent AMAs, bounty campaigns and more come together in Amulet Protocol. The project already has many successful partners and investors on its list, you can see many of them below, but this list is updated and added to every day.

Amulet Protocol’s current roadmap is focused on launching a core network.
Q2–2022:

Announcing the project to the public — 20/4 in Amsterdam ✅

Defining the application process and how it will work ✅

Developing mechanics to automate with the Stablecoin Depeg proposal ✅

Q3–2022:

Completing the cover design ✅

Conducting code audits and threat analysis, Kudelski Security is doing this ⏳

Launch of TestNet (expected September 1, 2022) ⏳

Launching V1 MainNet (expected late September 2022) ⏳

Completion of risk assessment process ⏳

Q4–2022:

Launching the Center for Analytics and Governance 🔜

Launching the Bug Bounty program 🔜

Q1–2023:

Additional offerings (initial offerings in September — smart contract vulnerabilities and Stablecoin Depeg) 🔜

Enabling Amulet notifications in our app 🔜

Launching Amulet Stable Asset Pools 🔜

Right now, Amulet Protocol is running its bounty campaign, the AmuNation App. The AmuNation App was created to promote and popularize the project. Users and members can perform various tasks, for which they receive AmuPoints. In the future AmuPoints can be exchanged for good rewards. The application consists of 5 levels. Each level has its own rewards. The more points you earn, the faster you can increase your level.

At the time the app launched, there are currently 5 levels that can be reached:

Beginner AmuNation : The starting point for AmuNation
AmuNation Beginner : Great start, Whitelist!
AmuNation Student : Getting better, time for an Airdrop!
AmuNation Expert : Wow, cool, NFT Bronze!
AmuNation Master: Almost champion! NFT Silver!
Mythical AmuNation : AmuLegend! NFT Gold! Final awards!

Amulet Protocol – Secure Code was Reviewed by Kudelski

Amulet Protocol is due to launch on the mainnet very shortly and we’re delighted to provide the report from Kudelski Security publically.

This report from Kudelski, the first of several audits, is ready and allows us to feel confident that our code and security is where it should be for launch.

Overview:
Kudelski Security performed a secure code assessment on the Amulet Protocol smart contract system.

The source code review took place from 7/14 – 8/11, and focused on the following objectives:

Provide the customer with an assessment of their overall security posture and any risks discovered within the environment during the engagement.
To provide a professional opinion on code maturity, adequacy, and efficiency of the security measures in place.
To identify potential issues and include improvement recommendations based on the results of our review and tests.

Key Findings:

The issues found in the code were LOW or INFORMATIONAL findings. This shows that the overall risk profile of the application at the time of this assessment is low.The following are the major themes and issues identified during the testing period. These, along with other items, within the findings section, should be prioritized for remediation to reduce the risk they pose.

Safe math was used often, but should be used more consistently throughout the code to prevent potential vulnerabilities from being introduced in future updates.

Insurance policy coverage duration, claim expiration dates and claim payout dates may be affected by a lack of precision when dev Epochs are used in place of UNIX time.

Single administrator accounts have significant capabilities. These functions should be limited by requiring multiple signers to prevent collusion. We have been informed that this is currently occurring off-chain, but this should occur on-chain in the future for transparency.During the test, the following positive observations were noted regarding the scope of the engagement:

The code is well organized.

Client contacts were very amenable to conducting joint secure code reviews with the Kudelski Security smart contract auditing team.

Anchor framework usage is very consistent and follows the recommended syntax.

Critical issues in architecture or code logic were discussed immediately via teleconference.

Access the report here: https://files.amulet.org/public/AmuletGlobalMTRLabs.pdf

Amulet Protocol and Kudelski Security announced a new strategic partnership to enhance security in the web3
The new partnership is great news. Run along and read a very interesting article.
Asset protection has been around since before records existed. Ever since there have been items or assets, there has been a need to secure them.

Now two security-focused companies have confirmed their official partnership: Amulet Protocol and Kudelski Security.

Developed during the DeFi boom in 2020, Amulet has been watching various hacks and exploits in recent months and years and decided to take significant action to launch its project.

Amulet Protocol, due to launch in September on the Solana blockchain, offers a simple and reliable cover for everyone within web3.
With the innovation and capabilities of Rust-based ecosystems, Amulet will move in the direction of providing protection for NFT, GameFi and the entire Metaverse.

Kudelski Security is a leading cybersecurity company with one primary goal: to disrupt the cybersecurity status quo. As experts in the field, Kudelski provides support aimed at increasing cyber confidence, threat resilience and data protection.

As a result of this collaboration, Kudelski has already begun consulting with Amulet and working behind the scenes to ensure that Amulet products are ready and secure.

Kudelski Security and Amulet are currently working together to audit smart contracts. The work will continue over the coming months and years to ensure that protection is at the forefront and any potential exploiters are deterred.

Briefly about Kudelski Security
With offices and labs in Switzerland, the UK, Singapore, Taiwan, Germany, France and the US, Kudelski Security uses a rich history of engineering and innovation to create solutions for customers’ most complex cybersecurity challenges.
Kudelski Security understands the power of blockchain technology and has become an expert in the industry over the past few years. The cybersecurity giants have more than 400 certifications in technical, product and security and are one of the most trusted companies in the field.

About Amulet
Amulet is a decentralized cover protocol built for the Rust-based ecosystem, starting with the Solana blockchain. Amulet has developed an innovative and open coverage protection model that not only effectively addresses common problems of existing decentralized coverage protocols, but also creates a new paradigm shift for the entire insurance sector.

Amulet is creating the industry’s first Protocol-Controlled Underwriting (PCU) approach, in which Amulet will build its own underwriting capabilities and implement a claims structure that incorporates a unique Yield Backed Claim (YBC) method. This is a significant departure from existing coverage models that involve leasing underwriting capabilities from capital providers in favor of a more sustainable protocol-controlled underwriting and claims structure.

Amulet’s vision is to offer simple, reliable coverage for everyone in Web3. With the addition of Amulet, users throughout the Rust-based ecosystem will have access to a new way to hedge various risks through protective product offerings

Hi all. Saw the news that Amulet Protocol announced their roadmap. Let’s see what this amazing project has in store for us!
If anyone doesn’t know, Amulet is a decentralized insurance protocol that aims to protect investors’ assets from incidents such as:

Smart Contract Vulnerability: A smart contract failure if the covered protocol is exploited or fails to function as intended.
Stablecoin Depeg: The risk that a stable coin will trade below its peg for an extended period of time. This is currently only available for dollar-based stablecoins.
Slashing: Slashing penalties are not currently implemented in Solana, but the project intends to offer this coverage when this part of the protocol goes live.
NFT, Metaverse, and wallet protection are all in development!
Amulet’s decentralized coverage protocol provides financial security for all users interacting with Web3 financial products.

It currently includes the risks of smart contracts, stabelcoin depeg, slashing, oracle failures, economic exploits, etc.

Of all of these risks, smart contract exploits were one of the most significant contributors to the loss of nearly $3B in 2021. By securing these initial types of risks and expanding Amulet’s reach, Amulet aims to create a more secure Web3.

DeFi has not stopped its development since the summer of 2020. As the market volume grows, the demand for risk hedging is also going through its growth phase. Despite the dominance of Ethereum and its associated EVM (Ethereum Virtual Machine) ecosystem in DeFi, other Rust-based public chains are growing rapidly, with Solana leading the way.

Along with the growth of Solana as the primary Tier 1 solution, the project predicts that the demand for risk management solutions on Solana and broader Rust-based ecosystems will soon experience its own boom.

However, they are still lacking on Solana and few in the Rust-based space. This represents a unique blue ocean opportunity that Amulet immediately exploits to meet the growing market demand for security.

As you can see from the picture above, there are 3 main points about Amulet’s operations, these are:

Coverage — Only 2% of digital assets in our industry are protected. Amulet Protocol offers additional protection for your digital assets with a range of solutions, including smart contract vulnerability, Stablecoin depeg and NFT coverage options.
Steaking — Make steaking in Amulet Protocol easy and worry-free. Amulet Protocol has 3 levels of protection between claims and assets. Doing steaking is easy and, more importantly, it has the highest level of security behind it.
Earnings — Amulet Protocol is built on advanced technology. Hybrid claim management will be fully automated in situations such as a Stablecoin de-peg trigger, resulting in payouts. Amulet Protocol also manages claim payouts through its DAO model.
In fact, if you go into details, there is a certain underwriting mechanism, in general it’s a little bit another level, so I won’t talk about it in this article. But the idea of the project is very, very cool!

So, now let’s talk about the road map of the project. Amulet Protocol is happy to present a public roadmap that gives an overview of the plans for the coming months for investors, users and the community!

The current development of Amulet Protocol is focused on the launch of the mainnet. After that, the team will work hard on continuous improvement, aiming to become the mainstream solution for DeFi coverage.

The team has big ambitions. Below is a summary of expected plans from the time the project is announced in April 2022 to the second quarter of 2023.

Q2–2022:

Announcing the draft to the public — 20/4 in Amsterdam ✅
Defining the claims process and how it will work ✅
Develop mechanics to automate the process with our Stablecoin Depeg offering ✅
Q3–2022:

Finalize the design for our coverage offering ✅
Conduct a code audit and threat analysis, Kudelski Security is doing this ⏳.
Launch a test network (expected September 1, 2022) ⏳
Launch of V1 MainNet (expected in late September 2022) ⏳
Completing the risk assessment process (how we analyze and assess the premium) ⏳
Q4–2022:

Launching our analytics and command center 🔜
Launching our Bug Bounty Program 🔜
Q1–2023:

Additional offerings (initial offerings in September are smart contract vulnerabilities and stabelcoin depeg) 🔜
Enabling Amulet notifications in our dApp 🔜]
Launching Amulet Stable Asset Pools 🔜
This roadmap is subject to change, but the project will be sure to notify the community of any changes.

Amulet protocol is an insurance protocol that will secure our assets in the web3 space.

What problems can Amulet solve?
1. Smart contract vulnerability: smart contract hacking is a trend of 21 and 22.
2. Stablecoin depgs: no comment here, after the UST case, everyone knows that stablecoins are not that stable.
3. Protection of nft and wallets is also in development.

The project raised $6,000,000 during Seed-Round.
And you can find Animoca Brands, Solana Ventures, DeFiance Capital, NGC Ventures, Signum Capital and others as investors.

What should we do?
1. Get on Diskord.
2. Start to be active and do work for the project (translations, infographics, guides, etc.).
Since in the near future will be given out the role of OH, which will be eligible for awards, that’s what all activity is for!

Risk.
0/5.

Thoughts.
I suggest getting active to get OG, as the project is more than relevant, amid Solana’s recent problems, so it’s potentially a gem!

Amulet Protocol (hereafter referred to as Amulet) is a decentralized insurance protocol built for the Rust-based ecosystem, starting with the Solana blockchain. Amulet has designed an innovative and open insurance model, which not only effectively addresses the common challenges of existing decentralized insurance protocols, but also creates a new paradigm shift for the whole insurance sector. Risk underwriting and insurance claim lies at the core of any insurance business; however, all existing decentralized finance (DeFi) insurance protocols have been facing a critical sustainability challenge for risk underwriting and claims. Amulet is creating the industry?s first Protocol-Controlled Underwriting (PCU) approach, in which Amulet will build up its own underwriting capabilities and introduce a claim structure involving a unique Yield Backed Claim (YBC) method. This is a significant deviation from the incumbent insurance models of renting underwriting capability from capital providers to a more sustainable underwriting and claim structure controlled by the protocol. The vision of Amulet is to offer simple, reliable insurance for everyone in Web3. With the addition of Amulet, users in the entire Rust-based ecosystem will gain access to a new way to hedge various risks with insurance product offerings.

https://amulet.org/

Project Description
Amulet Protocol (hereafter Amulet) is a decentralized insurance protocol created for the Rust-based ecosystem, starting with the Solana blockchain. Amulet has developed an innovative and open insurance model that not only effectively addresses common problems of existing decentralized insurance protocols, but also creates a new paradigm shift for the entire insurance sector. Risk underwriting and claims are at the heart of every insurance business; however, all existing decentralized financial insurance (DeFi) protocols face the critical problem of sustainability in risk underwriting and claims. Amulet is creating the industry’s first Protocol-Controlled Underwriting (PCU) approach, where Amulet will build its own underwriting capabilities and implement a claims structure that incorporates a unique Yield Backed Claim (YBC) method. This is a significant departure from current insurance models, in which underwriting capabilities are leased from capital providers, in favor of a more sustainable protocol-controlled underwriting and claims structure. Amulet’s vision is to offer simple, reliable insurance to everyone in Web3. With the addition of Amulet, users throughout the Rust-based ecosystem will have access to a new way to hedge various risks through insurance product offerings.

How do I win an Amulet NFT?
As a follow up to our recent article on NFT, we decided to tell you how you can get your own Amulet NFT.
What is an Amulet NFT?
As part of our bounty campaign, we are posting NFTs that will be very valuable. To date, that value is not obvious, but trust us when we say that they will be “EXTREMELY VALUABLE.”

This will become more obvious when we launch into the Mainnet (which will happen very, very, very soon). Once we start doing transactions in the meinnet, the more of them we get (as we grow), the more valuable those NFTs will become. This is probably your only opportunity to get your hands on them, we are unlikely to release more.

Our NFTs come in 3 levels. Gold, Silver, and Bronze. This is not your typical NFT — we don’t just create art and run it, our NFTs will have real value as they are very useful to our platform. They will still look incredibly cool, but with added utility that adds to their value. Their value is not based on the popularity of the characters, but on the usability of our solution.

Amulet NFT has many benefits, including a bid bonus, a higher token sales limit, an Airdrop bonus, an allotment bonus, and, most importantly, discounts of up to 15%.
How can I earn NFT?
The best way to earn is through our AmuNation app. By completing all of the tasks (which will also be updated this week!), you can earn as many AmuPoints as possible.

By collecting AmuPoints through daily tasks, you’ll be able to move up the leaderboard and earn high rewards. Very soon we will be launching AmuOutlet, our own marketplace for exchanging points for NFT. While it’s still under development, you have a great chance to keep accumulating points — gold NFTs will be the most expensive.

Challenges are frequently updated, but if you’ve completed all the tasks, you still have a chance to win NFTs.

Every day you can try your luck at our Jackpot. Just click on the fruit machine below, and each day your credits will automatically renew. That should be extra motivation for you to log into the app every day. We’ve already awarded 260+ NFTs, and there’s plenty more to win. The more you spin, the more likely you are to win.

We’ve also started an Amu-Roulette channel in Discord. This is another chance to enter the lottery and earn credits to win one of these great NFTs.

You can also earn NFTs by getting our attention. You’ll notice on Discord that we have moderators, community champions, and early contributors. Those who have earned these roles have definitely earned them!

They got their roles because of their dedication to our project. They regularly contribute and help keep the conversation going. They are the reason we have the BEST community, not just for the coverage protocol, but for the entire web3. Roles are still available for Twitter and Discord activity. We encourage you to stay online, keep working hard, and earn rewards. We regularly check in with everyone who has a role, and those who continue to gain momentum are sure to be rewarded for all their hard work.

How to win an Amulet NFT?

What are Amulet NFTs?

As part of our bounty campaign, we’re dropping NFTs which will be really valuable. As of today, that value isn’t obvious, but believe us when we say that they will be “EXTREMELY VALUABLE”. It will become more obvious once we launch on the mainnet (which is very very VERY soon). Once we start with transactions on the mainnet, the more that come through (as we grow), the more valuable these NFTs become. This is probably your only opportunity to get your hands on one, we’re not likely to drop more.

The usability of our NFTs come in the 3 tiers.

- Gold,
- Silver
- Bronze.

This isn’t a typical NFT – we’re not just creating art and launching it, our NFTs will have a real value as they are very much the utility for our platform. They will still look incredibly cool but with that added extra of having utility to increase the value. It’s value isn’t based on the popularity of the characters but really through the usability of our solution.

Amulet NFTs utility of great perks include Staking Bonus, Higher Token Sale Cap, Airdrop Bonus, Vesting Bonus and most importantly, policy discounts up to 15%.

How do I earn one?

The best way to earn one is through our AmuNation app here https://amunation.amulet.org/r/sadovnik
Completing all the tasks (which are also going to be updated this week!) to earn as many AmuPoints as possible.

Collecting AmuPoints by completing tasks daily will allow you to climb up the ladder and earn high rewards. Very soon, the AmuOutlet will launch, which is our own marketplace to exchange points for NFTs. While that is still being developed, you have a great chance to keep building and building points – Gold NFTs will be the most expensive.

Tasks are being updated often but if you’ve completed every task, there are still more opportunities to win NFTs.

Every single day, you can try your luck with our Jackpot. Just click the fruit machine at the bottom and every day, your credits get updated automatically. This should give you further motivation to jump onto the app every day. We’ve already rewarded 260+ NFTs and there are plenty more to be won. The more you spin, the more likely you are to win.

We’ve also introduced the Amu-Roulette channel on Discord. Another chance to enter a lottery to earn credits to win one of those awesome NFTs.

You can also earn NFTs by getting our attention. You will notice on Discord that we have moderators, community champions and early contributors. Those who have earned these roles have CERTAINLY earned them! They have their roles due to their dedication towards our project. Contributing regularly and helping keeping the conversation flowing. They are the reason we have the BEST community, not only for cover protocols, but in the whole of web3. Roles can still be earned through activity on Twitter and Discord. We advise you stay online, keep working hard and earn those rewards. We review all those who have a role on a regular basis, those who continue the momentum will definitely be rewarded for all their hard work.

Amulet
Amulet is a simple and robust protection for everyone in web3. We hear about exploits in DeFi every day, and while defense protocols exist, we come with a unique model (PCR) and focus on Rust-based ecosystems. We are expected to launch in the mainnet in a few weeks, we will start on Solana, and we were backed by Solana Ventures in our seed funding round. We’re here to provide web3 users with an extra layer of security to keep your assets safe.

What are the features of Amulet Protocol that make it superior and special compared to the competition?
Amulet Protocol has redefined coverage and risk protection models. Protocol Controlled Reserve (PCR) is our way of ensuring that when we pay out money, it comes from returns, not stackers. If you look at the recent UST crisis, other coverage protocols such as Unslashed and InsurAce were paying out big money because they offered a stable coin depage situation. In the process, they upset stakeholders, and they had to come up with exciting rewards programs to compensate. Payouts coming from yields relieve us of this problem. We’re also the first in Solana and focusing on Rust, we think it will create more opportunities in the future in terms of product than other coverage protocols.

How can people make money in AmuNation?
The Amulet community is epic, and it’s growing every single day. AmuNation is what we call our community members, and the app was designed to showcase our uniqueness from the beginning. The app is a gamified rewards program where you can earn yourself valuable rewards like our NFTs. Assignments are regularly updated, and you can earn AmuPoints depending on which assignment you complete. There is a leaderboard as well as a Jackpot slot machine. Bring your friends too — this is a once-in-a-lifetime opportunity to earn rewards with genuine and real value.

Testnet and how do I join?
The AmuNation app has assignments to use our TestNet so you can earn while testing our functionality, etc. TestNet is already open and we’ve had an incredible response rate. Access: testnet.amulet.org and you can leave feedback in our Discord channel: discord.gg/AmuletProtocol. All features are available for testing, coverage, underwriting and earning.

What has Amulet Protocol achieved so far and what important updates and developments will we get in the near future in Amulet?
The project was announced in April, and since then we have been focused on building our product and community. I’m very proud of our Discord server, we have a lot of language channels to reach everyone. We have roles, and Early Contributors and Community Champions are doing a brilliant job right now. We’ve launched our roadmap, we’ve announced partnerships, we have something going on every day. Our audit is coming out tomorrow. We have game nights for the community (poker tomorrow too! Come!) Our blog is the best place to learn about all

Collaborations and partnerships and how will everyone benefit from these partnerships?
Collaboration and partnerships are some of the most important cornerstones for improving adoption. Tell us about your existing project partners, your plans for partnerships,

We’ve already announced some terrific partnerships (Francium, Serum, Tulip, Port, and others), and you’ll see more coming in the weeks and months ahead. Each partnership will be different and can range from providing coverage for their protocol to collaborating on marketing activities. Kudelski did our audit as they are on the list as well. We just hired Hakon who will be recruiting partners, but not just any partners, they have to be a good fit for us and them!

Hello all, seeing that the community has a lot of questions about the passing testnet decided to roll out a detailed guide with screenshots of each action. But first, a little about the project.
In other words, the project offers products to cover users’ financial risks, which include:

Smart contract hacking risk.
Stablecoin depeg risk
Risk of slashing.
Blockchain oracle failure risk
Future risks of NFT, Metaverse, cryptocurrency wallet
It all looks very tasty — can you imagine how cool it would be if we had coverage for a UST Terra depeg incident? Or for example if some smart contract was hacked we would be paid for the lost funds.

The protocol itself will initially work in Solana network, because TVL (Total Value Locked) grows much faster in this network (5 times faster on average) than in Ethereum. And in general, there is no coverage protocols on Solana, so we can safely say that Amulet decided to take the honorable 1st place here.

Such big market players as gumi Cryptos, Solana Ventures, Animoca Brands, DeFiance Capital and others invested $6 million in the project:
A small digression: the project has launched its AmuNation App bounty program, through which you can earn Amu Points, thereby increasing your level, which leads to earning more valuable prizes.

To motivate you a little, here is a screenshot of how you can get rewards for participation in the bounty 😉
As you see, for 5000 points (AmuNation Expert level) you can get your first bronze NFT from the project. And to get 5000 points you can literally in a few hours with a quality approach.

You know what to do 🔥

Amulet Protocol as a risk hedging tool in DeFi. Part 2 — more details, investors and tokenomics
Hey there, everyone. Just the other day I wrote about one very interesting and unusual project (unusual — because I personally have not come across such topics), this article was called “Amulet Protocol Project as a risk hedging tool in DeFi. Introduction” and you can read it below 👇
The current post of mine is a logical continuation of the series of articles about the Amulet Protocol project, where I tell and analyze important information about this project.

To begin with a little introduction to refresh your memory of the information, literally in the abstract:

The DeFi sector grew over 27 times in 1.5–2 years ( from $9.7 billion to $261.2 billion)
The massive growth of this sector provokes numerous losses due to hacking, market volatility, holes in smart contracts, etc.
Accordingly, there is a strong demand for risk hedging, the most popular of which is insurance.
A factor forcing the demand for risk hedging is the total volume of TVL on the networks, for example, TVL on Solana grows 5 times faster than on ETH.
And that’s where a project called Amulet Protocol comes on the scene — it’s a DeFi insurance protocol for the Rust-based ecosystem with an initial deployment on Solana.

Amulet is being built with the prospect of simple, reliable insurance for all in Web3. The solution will be the first to be built on the Solana network and has been backed by Solana Ventures, which is also an investor in the project.

Amulet uses Solana’s proof-of-stake network to provide stable returns and insurance services through a unique Protocol Controlled Underwriting and Future Yield Backed Claim mechanism that minimizes risk for capital providers to underwrite.

The Amulet protocol
The Amulet protocol is a decentralized Risk Protection Protocol (“RPP”) created for the Rust-based ecosystem starting with the Solana blockchain. Amulet has developed an innovative and open risk protection model that not only effectively addresses common problems of existing decentralized RPPs, but also creates a new paradigm shift for the entire risk protection sector.

It will also address:
1. Smart contract vulnerability: smart contract hacking is a trend of the 21st and 22nd years.
2. Stablecoin Depgs: no comment here, after the UST case, everyone knows that stablcoins are not that stable.
3. Protection of nft and wallets in development.
Very good project, I advise to participate + give away amulets (their NFT).

Beginner (0 level) — he begins the path to the bounty
AmuNation Beginner (1 level 500 points) — the reward for owners of this role — token whitelist for sale of tokens $AMT
AmuNation Student (level 2 2500 points) — rewards are as follows: $5 AMT token for the first 20,000 members and then a 25% bonus for the secret Airdrop.
AmuNation Expert (level 3 5000 points) — the reward is a bronze Amulet NFT.
AmuNation Master (4th level 10000 points) — the award is a silver Amulet NFT.
AmuNation Mhytical (level 5 25000 points) — the award is a gold Amulet NFT.
The main task will be to earn points and receive various awards.

Amulet Protocol
🔥 We have a GEM coming up.

Amulet Protocol is a decentralized risk protection protocol for the Rust-based ecosystem, originally deployed on Solana.

But we don’t care so much about all those terms, what’s important to us is that guys like Solana Venture, DeFiance Capital, Animoca Brands and many more have put $6 million into the project.

Now we are eligible, get tokens, allocation and NFT from this project.

📌 ACTIONS :
- Go to the website and connect via email
- Perform tasks in social networks, there are quite a lot of them, the more you do the better.

We do tasks for which we are given the so-called Amupoints, the more these points — the higher your level, for what level — what is the reward?

- 1 level — allocation
- 2 level — 5 tokens $AMT + 25% bonus for the secret airdrop, not quite understand what the secret airdrop
- Level 3 — Amulet NFT (I understand it costs 2.5 SOL)
- Level 4 — Silver NFT (I understand it costs 5 SOL)
- Level 5 — Gold NFT (I understand it’s worth 20 SOL)

What do you think of the rewards? For all tasks, you can get ~4,000+ points, which means we get to level 2, and have the right to claim 5 tokens $AMT + 25% for the secret drop.

Amulet Protocol
Amulet Protocol and its roadmap for 2022–2023. Let’s see what the project has in store for us!
Hi all. Saw the news that Amulet Protocol announced their roadmap. Let’s see what this amazing project has in store for us!
If anyone doesn’t know, Amulet is a decentralized insurance protocol that has as its main goal to protect investors’ assets from incidents such as:

Smart Contract Vulnerability: A smart contract failure if the covered protocol is exploited or fails to function as intended.
Stablecoin Depeg: The risk that a stable coin will trade below its peg for an extended period of time. This is currently only available for dollar-based stablecoins.
Slashing: Slashing penalties are not currently implemented in Solana, but the project intends to offer this coverage when this part of the protocol goes live.
NFT, Metaverse, and wallet protection are all in development!
Amulet’s decentralized coverage protocol provides financial security for all users interacting with Web3 financial products.
Of all these risks, smart contract exploits were one of the most significant contributors to the loss of nearly $3B in 2021. By securing these initial types of risks and expanding Amulet’s reach, Amulet aims to create a more secure Web3.

DeFi has not stopped its development since the summer of 2020. As the market volume grows, the demand for risk hedging is also going through its growth phase. Despite the dominance of Ethereum and its associated EVM (Ethereum Virtual Machine) ecosystem in DeFi, other Rust-based public chains are growing rapidly, with Solana leading the way.
However, they are still lacking in Solana and few in the Rust-based space. This represents a unique blue ocean opportunity, which Amulet immediately exploits to meet the growing market demand for security.

As you can see from the picture above, there are 3 main points about Amulet’s operations, these are:

Coverage — Only 2% of digital assets in our industry are protected. Amulet Protocol offers additional protection for your digital assets with a range of solutions, including smart contract vulnerability, Stablecoin depeg and NFT coverage options.
Steaking — Make steaking in Amulet Protocol easy and worry-free. Amulet Protocol has 3 levels of protection between claims and assets. Doing steaking is easy and, more importantly, it has the highest level of security behind it.
Earnings — Amulet Protocol is built on advanced technology. Hybrid claim management will be fully automated in situations such as a Stablecoin de-peg trigger, resulting in payouts. Amulet Protocol also manages claim payouts through its DAO model.
In fact, if you go into details, there is a certain underwriting mechanism, in general it’s a little bit another level, so I won’t talk about it in this article. But the idea of the project is very, very cool!
So, now let’s talk about the road map of the project. Amulet Protocol is happy to present a public roadmap that gives an overview of the plans for the coming months for investors, users and the community!

The current development of Amulet Protocol is focused on the launch of the mainnet. After that, the team will work hard on continuous improvement, aiming to become the mainstream solution for DeFi coverage.

The team has big ambitions. Below is a summary of expected plans from the time the project is announced in April 2022 to the second quarter of 2023.
Now with translation:

Q2–2022:

Announcing the project to the public — 20/4 in Amsterdam ✅
Defining the claims process and how it will work ✅
Develop mechanics to automate the process with our Stablecoin Depeg offering ✅
Q3–2022:

Finalize the design for our coverage offering ✅
Conduct a code audit and threat analysis, Kudelski Security is doing this ⏳.
Launch a test network (expected September 1, 2022) ⏳
Launch of V1 MainNet (expected in late September 2022) ⏳
Completing the risk assessment process (how we analyze and assess the premium) ⏳
Q4–2022:

Launching our analytics and command center 🔜
Launching our Bug Bounty Program 🔜
Q1–2023:

Additional offerings (initial offerings in September are smart contract vulnerabilities and stabelcoin depeg) 🔜
Enabling Amulet notifications in our dApp 🔜]
Launching Amulet Stable Asset Pools 🔜
This roadmap is subject to change, but the project will be sure to notify the community of any changes.

Amulet Protocol
Hi buddy! If you came to this page it means you’re wondering what the Amulet Protocol is and what kind of AmuNation event is going on right now that’s worth participating in.

The Amulet Protocol is a decentralized risk protection protocol (“RPP”) developed for Rust-based ecosystems. Amulet has developed an innovative and open risk protection model that not only effectively addresses common problems of existing decentralized RPPs, but also creates a new paradigm shift for the entire risk management sector.

The project has been added to the top projects on ICO Drops. Now there is intensive work on attracting new funds and I think the team will be successful. Here are the funds that have already seen the prospect in the project SolanaVentures
, GumiCryptos, Animocabrands, a41_allforone, SolarEcoFund, Signum_Capital, ZBScapital.

Amulet aims to provide a high level of protection against capital drawdown, while generating income for its participants. The realization of this goal will be gradual, based on treasury growth along with buffers designed to support it. Below is an overview of Amulet’s structure: Figure Key Components o 2The overall platform design f the overall platform design outlined above Underwriting, product offerings and distribution, capital in Figure 2 is risk management, risk management and claims assessment.

Amulet
Amulet will adopt a cross-chain strategy and deploy it to other ecosystems not based on the Ethereum virtual machine along the way.

But most importantly, Amulet gives users the opportunity to help protect the blockchain by participating in liquid betting and insurance, which will again be done through a single protocol. Thus, Amulet will be designed with transparency in mind, with a focus on developing the project in collaboration with the security community.

If you know English well, you can carefully read the infographic below, which schematically explains the structure of the protocol process.
Positively, we can distinguish 3 main areas of the protocol, these are:

Insurance — the ability to protect the value of your assets with: smart contract insurance, stable coin depeg insurance and NFT insurance.
Steering — the ability to put your assets in Amulet with peace of mind. Amulet is the only insurance protocol that includes 3 levels of protection between claims and your assets.
Earnings — Hybrid claim management: automatic payouts when you depeg stable coins and claim management when you confirm DAO.

Amulet Protocol
Within the Solana ecosystem, users own $SOL derivative tokens such as $mSOL owned by Marinade.finance and $stSOL owned by Lido.finance. These tokens are important innovations in DeFi as users do not only participate in paid platforms but issue tokens on other platforms throughout the ecosystem.

Amulet has intentionally focused its contribution on this high capital intensive cycle and created an insurance layer on top of the foundation ecosystem — the $SOL token and the Solana PoS cluster. For this platform, $amtSOL will be issued when the user injects their $SOL tokens.
Amulet Managing Token ($AMT).
Allows users to suggest and vote on community proposals. These include, but are not limited to, future reward satisfaction, security validity, target capital requirements, listing of new products, treasury redemption thresholds, and changes to expected outcomes.

The $amtSOL is a revenue-generating token similar to $mSOL, which is accrued on the revenue generated by the Solana PoS rate. Users will also have the option of investing $amtSOL in insurance pools to underwrite insurance products, receive premiums and rewards in $AMT, or invest $amtSOL in a betting pool for rewards in $AMT on the Amulet platform. They can also use $amtSOL to participate in other protocols in the Solana ecosystem to earn additional revenue. With the creation of $amtSOL, Amulet will become part of the Solana ecosystem.
Insurance Token ($aUWT).
As an open DeFi insurance protocol, Amulet also supports other $SOL derivative tokens such as $mSOL, $stSOL, etc. to participate in underwriting.When these $amtSOL, $mSOL, $stSOL are used for insurance underwriting, $aUWT tokens are minted to de-nationalize the token underwriting capabilities.
Derivative SOL tokens are exchanged for $aUWT tokens using the weighted average exchange volume algorithm.

On a DEX (e.g. Saber or Raydium) for that trading pair, including $amtSOL-$SOL, $amtSOL-$mSOL, $amtSOL-$stSOL, $amtSOL-$aUWT, $mSOL-$aUWT, and $stSOL-$aUWT. Users can change their original tokens from the protocols or redeem their important Amulet.

Risk Management
Amulet's risk management can be broken down into several key functions:
1. Capital adequacy and management
Adhering with Solvency II requirements creates a desirable level of safety when underwriting risk. It builds a protective moat around Amulet's capital base and ensures there is sufficient reserves for making claim payouts.
2. Layered risk controls
Several layers of risk controls have been built into Amulet to ensure funds are safe and that the business remains sound:
Technical checks to ensure base level protocol safety, including code auditing, bug bounty program, and continuous testing.
Careful selection of protocols to be covered through rigorous risk assessment.
Identifying over-concentration of risk from the chain level down to individual product level and risk types in order to avoid catastrophic drawdowns by certain covers.
Mechanisms such as an emergency kill-switch to suspend all or some business activities to head-off suspicious transactions.
Clear cover terms and conditions properly detailing the scope of coverage and claims process amongst other particulars.
3. On-chain risk alerts
On-chain data monitoring, analysis, and alerts serve as timely and valuable signals for Amulet to respond rapidly, such as notifications of covered protocols' security status, cover product price adjustments, or the occurrence of a risk event. Amulet has adopted many best practices in this area and continues to work with several other projects to enhance its risk monitoring capabilities.

Phased Execution Path
As Amulet grows and reaches its key milestones, the following initiatives will commence:
Project Initiation – Limited underwriting with with greater emphasis on investments to bootstrap treasury pool assets. Cover products will be offered on a limited basis for specified protocols at this stage. This will continue until the Treasury Pool reaches critical mass and its income-generating potential stabilizes. Early $AMT lockers will receive special rewards.
Treasury Pool Critical Mass – Size of claims reserve and associated collateralized future revenues (i.e., YBC) is sufficient to withstand economic shocks as defined by Solvency II standards. Accelerated distribution of investment and other treasury income will commence while rewards for locked $AMT will begin to reduce.
Growth Phase – Projected and actual loss ratios monitored to track performance and execute on improvements so that the protocol can better withstand economic shocks. Emphasis on the continued acceleration of treasury income while $AMT emissions are throttled. Leverage on underwriting capital can be increased to generate new business and underwrite larger covers.
Hypergrowth And Beyond – Defined as the point when cover purchasers and regular treasury income can withstand incoming claims without the need to draw on capital tranches. Treasury $AMT buyback operations can help increase capital staked, thereby allowing for greater cover capacity, which in turn generates more cover payments and leads to further treasury growth and value accrual.

Claim Process
Amulet intends to use a hybrid claims process to simplify its procedure and ensure
fairness for its users. This hybrid process will consist of a programmatic claims process
for parametric cover products, and a voting-based claim process for non-parametric
products.

Programmatic Claims
This approach is suitable for parameterized cover products, such as stablecoin de-peg
cover. Its trigger criteria are clear and simple enough to be programmed and
automatically executed when the necessary conditions are met (e.g. stablecoin falls a
certain predefined amount below its peg). Users will be able to enjoy a much faster
claims process and greatly reduced burden to supply proof of loss. At the same time,
Amulet will be able focus more on protocol development and bringing industry-leading
products to market.

Vote-based Claims
For non-parameterized cover products such as smart contract risk or custodian risk
where risk events or exploits are not yet easily verified, a vote-based claims process is
required.

Generally, after a Claimant submits a valid claim along with the necessary evidence
within a specified time period, a Claim Committee will investigate the claim and
evidence then vote to approve, partially approve, or reject a payout. There will also be
an appeal process where Claimants can appeal to the Claim Committee to reconsider
its decision based on new and different evidence. A deposit fee is charged for claim
submission and appeal. More up-to-date details will be set out on Amulet's website.

Therefore, Amulet will be balancing speed with fairness through its automated and
manual claims processes.

Amulet Protocol

Existing Challenges

There are several notable impediments to existing decentralized RPPs growth and
sustainability:

a. Capital and User Acquisition
RPPs are faced with a two-pronged problem of acquiring and retaining staked capital. There is inherent risk of losing principal while at the same time, intense competition for user capital across a high APY environment. Yield fluctuations alone can cause liquidity locusts to appear, causing many protocols to be at the mercy of stakers and forcing some to increase rewards just to retain staked capital. This does not appear to be a sustainable solution and could result in a debt spiral which becomes more and more difficult to get out of over time.

b. Network Building
Building up distribution channels to increase coverage and capacity while maintaining appropriate risk control is difficult. The importance of having strong networks cannot be stated strongly enough for RPPs. Their business and operating model is fundamentally that of a conduit for collective risk pooling and mutual aid. Oftentimes, having cover is an afterthought that occurs once a user or protocol has been rugged, hacked or somehow exploited even though these risks were known ahead of time. Investors and protocols that have cover can be liberated from some of these risks and delve deeper into their crypto journeys in a safe manner. Although it is an uphill battle, Amulet believes user education on proactive risk management to be a worthy endeavor.

c. Capital Management
In the event of catastrophic losses, underwriters might rush to withdraw funds to minimize the impact of such claims on their principal. While understandable from the underwriters’ perspective, this creates a potential threat to the protocol’s sustainability. Until the protocol reaches critical mass in funds (i.e. able to selfmanage payments for incoming claims with cover payments and associated investment earnings), that threat will remain omnipresent. This problem is further exacerbated by the lack of an effective risk management framework which makes it difficult to understand whether risks have been priced appropriately. Without effective capital management, protocol's run the risk of not having the necessary capital structure and allocations in place to guard against a "bank-run" on the protocol.

d. Claims Processing
It is difficult to ensure an impartial and efficient claim process while trying to align the interests of many different parties at the same time. For example, underwriters are incentivized to minimize payouts since they are paid based on the protocol's overall profitability (cover payments received less claims paid). However, claimants want to minimize cover payments and increase their potential payout. Satisfying these two parties already poses several challenges on top investor, community, and partner concerns, as well as the reputational challenges faced by RPPs in general.

Yield Backed Claim Payout

In order to build up PCR and minimize drawdowns on underwriters' capital, a tranche is built into Amulet's claim payout structure. This tranche is backed by future revenues
and therefore dubbed as Yield Backed Claim ("YBC"). What this means is that Amulet is collateralizing revenues that it is expected to earn in the near future in order to mint
more $aUWT for claim payouts so as to safeguard underwriters' capital against claims.

When a claim payout is approved, the necessary funds will be drawn from different
payout tranches in the sequence outlined below:
1. Yield Backed Claim Pool.
2. Claims Reserve in the Treasury Pool.
3. Product Underwriting Pool (i.e., If there is a claim on Cover Product A, only the $aUWT staked in Cover Product A's underwriting pool will be affected).

This way, underwriting capital contributed by underwriters will be least affected. Underwriters can be confident that their principal is SAFU while generating
considerable earnings through the various yield generation opportunities available on Amulet.

The time period which Amulet uses to determine the amount of revenue to collateralize for YBC will shrink progressively as Amulet builds up the PCR. Under no circumstances will the said time period's duration extend beyond its initial parameters .

Protocol Controlled Reserves

Existing DeFi RPPs rely on external underwriters to provide capital for claim payouts and cover capacity. This is effectively the same as renting liquidity from stakers. While
renting underwriting capital is effective in the short to medium-term, it does raise some serious issues that may greatly impact the scalability and sustainability of RPPs.

For example:

• In the face of outsized claims, underwriters may race to withdraw their capital, leading to insufficient claim payouts and subsequently reduced TVL
and future underwriting capacity for the RPP as underwriters look to mitigate and recoup their losses.

• Due to concerns over losing underwriting capital, many underwriters are unwilling to participate in RPPs.

• RPPs lockup or impose other restrictions on underwriting capital in their capital pools when claims are submitted in order to protect the functioning of the claims process. This method reduces user experience and hinders participation in the space.

• Yield generated from RPPs are generally not as competitive when compared to other DeFi protocols, hence users do not have a strong incentive to stake with RPPs. Some protocols use their token emissions to supplement their APY, but this is obviously not sustainable and puts downward price pressure on their governance tokens.

Hence, RPPs usually have smaller TVL compared to AMM, lending, and other DeFi protocols. The value of their governance tokens is also difficult to estimate given the uncertain risk of claim payouts weighing on RPPs' prospects.

Treasury Pool

The Treasury Pool is a key element of PCR. Income expected to expand the Treasury Pool's size includes:

• A portion of PoS staking rewards generated by staked $SOL.
• A portion of cover payments earned from cover sales.
• A portion of investment returns generated from staked assets, such as $mSOL, $stSOL, and $aUWT.
• Other revenue and fees generated by Amulet (e.g. LP rewards, CAP rewards).

The treasury pool will be earmarked in the following manner:

1) Claims Reserve: x% reserved for large claims and to grow core funds through reinvestment in the underwriting pool.
2) Value Accrual Activities: y% to purchase and redistribute $AMT tokens to longterm $AMT holders ($AMT buybacks and redistribution will be limited at first and eventually increased as Amulet builds up to a critical mass of funds or reserves).
3) Development Costs: z% to fund development.

x% / y% / z% will initially be set as 90% / 10% / 0% and subject to change in future governance decisions.

Cover Acceleration Program
In order to bootstrap underwriting capacity for certain products and generate higher returns for underwriters, Amulet's Cover Acceleration Program (CAP) will engage with
covered protocols' teams to accelerate cover adoption.

For example, when smart contract cover is launched for Protocol A, its initial price may be high due to limited capacity as underwriters may not have as strong an incentive to
back the risk versus older cover products. Protocol A can incentivize underwriters with its native tokens or other rewards and additionally $AMT rewards jointly sponsored
with Amulet. This helps to increase Amulet's cover capacity and reduce costs for cover purchaser while underwriters earn more rewards. Additionally, pool rewards allocated
by Protocol A may serve as an additional buffer against claim payouts.

The CAP will initially apply to Smart Contract Cover before expanding to other cover products on Amulet. As Amulet sees it, everyone stands to benefit from the CAP. Users
have access to more options for risk protection, protocols are able to attract more users, underwriters safely earn rewards on their principal, and Amulet is able to extend
and expand its product offerings to more users.

Conclusion

The risk protection sector, although a seemingly niche area, is critical to the safe and robust development of DeFi, much like how insurance or other modes of financial
protection has been responsible for the massive growth of commerce into the global behemoth that we have today. Knowing risk protection needs have been met and
potential risks mitigated is key to unlocking DeFi's global userbase and develop safetyminded DeFi.

Amulet is extremely excited to bring security to its users by offering simple, reliable cover at scale, backed by sustainable investments and prudent capital management.
In setting the standard for safety and proper risk management, Amulet will be a fundamental building block for protocol development on Solana, all Rust-based
ecosystems, and the future of open finance. Whether you are a potential contributor, investor, or just here for the ride, Amulet welcomes and looks forward to having you
in its community.

Pricing Model Amulet Protocol

The risk protection business is an endeavor to hedge against uncertain future loss, in which the covered person trades risk with RPPs through payments for cover products.
Product pricing is at the heart of any risk protection business and Amulet builds its pricing model based on proven practices and historical data.
The aim of product pricing is to find and charge a fair, affordable, and competitive price for users. It should reflect the risks undertaken by the protocol and be quick to adapt
to fast-changing risk settings. Amulet's pricing models enable it to get a fair estimate on expected losses, reduce costs for users, and enhance the protocol's long term
viability.

Amulet's pricing models take a multi-faceted approach when determining risk. For example, its Smart Contract Cover uses audit reports, operational history, team info,
etc. to generate a base rating for a protocol. The base rating, along with protocol APY and supply-demand factors, will be used to determine a cover product's price. Supply
and demand is typically measured via a bonding curve between price and cover capacity. Basically the more capacity available, the lower the cover product's price and
vice-versa.

Stablecoin De-peg Cover rely on economic simulations of historical data to test and identify the initial limits of the cover product, followed by further refinement through
the incorporation of data from current market indicators and forward-looking assumptions. Amulet will carefully select and define these limits at the start, then
constantly refine the product as it receives new information.

As more and more data becomes available, Amulet will be able to develop and fine tune increasingly sophisticated data-driven pricing models with the help of Machine Learning technology.

Amulet Protocol had an exceptional 2022. Amulet Protocol announced project in April at DevConnect in Amsterdam and this was shortly followed by seed funding announcement.

Since then Amulet Protocol been building community and getting ready for launch. Amulet Protocol did this organically and grew steadily and this became more extreme when we started our AmuNation app. Amulet Protocol achieved top 5 most engaged Solana projects in only 3 months of existence!

The AmuNation app is a bounty campaign that is still ongoing and will provide users with valuable rewards.
You can all join in: amunation.amulet.org (http://amunation.amulet.org/).
You have to complete tasks and there are also daily spins.
Amulet have plenty of community events too (3 already this week!) and you can win points and SOL on them too! Amulet then had our audit results, successful TestNet and our MainNet has been live for 3 weeks TODAY! Amulet Protocol sold over 400 covers already and so it’s never been more important to earn those underwriting rewards! This time next year, Amulet plan on being the BIGGEST multi-chain cover protocol in web3 (not just Solana).

Since launching our AmuNation app https://amunation.amulet.org/intro, users have exceeded our expectations and taken to the daily tasks in huge numbers. Our campaign is still running and there will be multiple opportunities to earn our NFTs over the coming days and weeks. Unlike other bounties and airdrops, the longer you remain engaged, the more chance you have to get your hands on our valuable NFTs.

We’re pleased to provide some further information about our NFTs plus some additional news about our forthcoming airdrop.

What are AmuNation NFTs?

Now that we’ve launched onto the MainNet – https://app.amulet.org/ It’s a great time to start providing more information about our NFTs and the value attached to them.

We’re pleased to officially confirm that our NFTs will be known as MetaBears. These cute, adorable bears with mountains of personality are not just cool to look at but contain real utility and, therefore, real value.

Split into 3 tiers, Gold MetaBears will have the highest level of value, Silver MetaBears are mid-range and Bronze are more common. As of today, November 2nd 2022, we will have a supply of 88 Gold, 888 Silver and 8,888 Bronze. Some of these have already been earned through the hard work promoting Amulet but there are still plenty more to distribute.

Following on from our latest bi-weekly report published on October 10th 2022, we’re delighted to provide the latest updates on what’s been going on at Amulet over the last 2 weeks. We hope this gives you an insight into some of the activities that we are working on and a reference for our recent major news.

Product and Technology

Ongoing MainNet development – https://app.amulet.org/#/underwrite/get
Ongoing website development.
Ongoing SEO development.
Ongoing discussions with the Solana team.
Ongoing discussions with security partners.
Ongoing claim process front/mid-end integration work.
Ongoing AmuNation app work
Amulet MainNet Stats:

529 Covers Sold (+258)
Total Cover Amount: $50,801 (+$30,421)
TVL: $338K (+$180k)
Marketing and Business Development

Ongoing AmuNation App, our Bounty Campaign http://amunation.amulet.org
Published new content on our YouTube channel.
Increased Linkedin activity.
Ongoing Task improvement for the AmuNation app and updated tasks.
Ongoing Blog development.
Ongoing Twitter and Discord development.
Ongoing Linkedin Development.
Ongoing community engagement development.
Integrated new robots for a better community experience on Discord.
Introduced 24/7 Music Channel onto Discord.
Took part in a LIVE walkthrough session showing how to underwrite with Amulet.
Hit 34k Twitter followers target.
Hit 28k Discord members target.
Hit 12k YouTube subscribers target.
Ongoing marketing discussions with potential partners.
Marketing campaign with Views Ecosystem.
Took part in an AmuNation AMA.
Hosted a Web3 Retreat with Hacken and Balancer for DevCon Bogota.
Preparations for Solana Breakpoint in Lisbon
Released an informative blog about Crypto Wallets.
Conducted an AMA with MetaMoonShots community.
Achieved being in the Top 5 projects on Solana with the highest engagement on Twitter.
Agreed a free NFT mint giveaway with JPoolOne.
Achieved over 1.2 million tasks being completed on AmuNation app.
2 Design competitions with AmuNation – winning AmuPoints and SOL.
Took part in a Twitter Space with Huobi Incubator.
Increased our community games to daily – very successful quizzes and poker night with full attendance.
Launched our TG announcement channel for CIS-Language.
“I Love Hacks” talk from Token 2049 video release on YouTube.
Amulet Protocol and $amtSOL listed on DeFi Llama.
$amtSOL listed on CoinGecko.
Updated our Roadmap to include recent achievements.
Highlights of staking featured on CoinTelegraph.

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Alternate cryptocurrencies => Announcements (Altcoins) => Topic started by: Ilya Hello.Crypto on August 30, 2022, 05:10:31 PM