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.