1/x
What's Amulet? π€
Amulet is a decentralized insurance platform designed for Rust-based ecosystems, starting with @solana
Amulet has designed an innovative and open insurance model to address common #DeFi insurance challenges and create a paradigm shift for the whole sector
What's Amulet? π€
Amulet is a decentralized insurance platform designed for Rust-based ecosystems, starting with @solana
Amulet has designed an innovative and open insurance model to address common #DeFi insurance challenges and create a paradigm shift for the whole sector
2/x
Amulet is creating the industry's 1st Protocol-Controlled Underwriting (PCU) approach to combat fleeting capital
Amulet will build its own underwriting capabilities and introduce multiple layers of claims buffers to safeguard staked capital while providing claim payouts
Amulet is creating the industry's 1st Protocol-Controlled Underwriting (PCU) approach to combat fleeting capital
Amulet will build its own underwriting capabilities and introduce multiple layers of claims buffers to safeguard staked capital while providing claim payouts
3/x
Our vision is to offer simple, reliable insurance for everyone in #Web3, with the enjoyed elements of #DeFi π
With Amulet, users in the entire #Rustbased ecosystem will gain access to a new way to hedge various risks with our insurance product offerings
Our vision is to offer simple, reliable insurance for everyone in #Web3, with the enjoyed elements of #DeFi π
With Amulet, users in the entire #Rustbased ecosystem will gain access to a new way to hedge various risks with our insurance product offerings
4/x
Amulet will be providing users opportunities:
π‘οΈInsure
πΈStake
π°Earn
Amulet will be providing users opportunities:
π‘οΈInsure
πΈStake
π°Earn
5/x
Why is Amulet launching? π€
Since the summer of 2020, #DeFi has been unstoppable
TVL (Total Value Locked) has grown from $9.7b in September 2020 to $230b today π
Why is Amulet launching? π€
Since the summer of 2020, #DeFi has been unstoppable
TVL (Total Value Locked) has grown from $9.7b in September 2020 to $230b today π
6/x
With this growing market weβve seen an increased demand for risk hedging
Crypto users often suffer loss from:
π Smart contract vulnerabilities
π Stablecoin de-peg risk
π Scams and rug pulls
π NFT hacks
And guess what? These issues are not going awayβΌοΈ
With this growing market weβve seen an increased demand for risk hedging
Crypto users often suffer loss from:
π Smart contract vulnerabilities
π Stablecoin de-peg risk
π Scams and rug pulls
π NFT hacks
And guess what? These issues are not going awayβΌοΈ
7/x
In 2021 alone, nearly $3b was lost due to hacks and exploits π
Insurance has become the most prominent and effective way to manage these risks π
BUT, only 2% of overall #DeFi TVL is covered by insurance. We think thereβs room to grow π
In 2021 alone, nearly $3b was lost due to hacks and exploits π
Insurance has become the most prominent and effective way to manage these risks π
BUT, only 2% of overall #DeFi TVL is covered by insurance. We think thereβs room to grow π
8/x
Speaking of growth, Rust-based public chains are growing at nearly 5x the pace of @ethereum - that comes with a growth in attack vectors and the need for Amulet π
Speaking of growth, Rust-based public chains are growing at nearly 5x the pace of @ethereum - that comes with a growth in attack vectors and the need for Amulet π
9/x
Our mission is achievable, but we're fully aware of the challenges #DeFi insurance protocols have in the confines of sustainability and growth including:
π Capital and User Acquisition
π Network Building
π Capital Management
π Claims Processing
Our mission is achievable, but we're fully aware of the challenges #DeFi insurance protocols have in the confines of sustainability and growth including:
π Capital and User Acquisition
π Network Building
π Capital Management
π Claims Processing
10/x
Here is a breakdown of key design elements to address that π
Amulet will:
π Use staked assets as the primary underwriting source while building up the treasury pool
Here is a breakdown of key design elements to address that π
Amulet will:
π Use staked assets as the primary underwriting source while building up the treasury pool
11/x
π The growing treasury pool (from bonding and other revenues) increases PCUV, which will eventually be Amulet's primary underwriting source
π Built on Solana initially, Amulet will accept $SOL as a staking asset
π The growing treasury pool (from bonding and other revenues) increases PCUV, which will eventually be Amulet's primary underwriting source
π Built on Solana initially, Amulet will accept $SOL as a staking asset
12/x
π As an open platform, SOL derived widely used tokens such as $mSOL, $stSOL will also be accepted
π Mint an intermediatory underwriting token to be used for underwriting insurance products
π Set up trading pairs to enable trading and arbitrage
π As an open platform, SOL derived widely used tokens such as $mSOL, $stSOL will also be accepted
π Mint an intermediatory underwriting token to be used for underwriting insurance products
π Set up trading pairs to enable trading and arbitrage
13/x
π Offer a wide range of individual products to cover various risk types with plans to expand to #NFT, #GameFi and #Metaverse products
π Use dedicated pricing models for different products
π Build up a product distribution network via partnerships, API integrations etc
π Offer a wide range of individual products to cover various risk types with plans to expand to #NFT, #GameFi and #Metaverse products
π Use dedicated pricing models for different products
π Build up a product distribution network via partnerships, API integrations etc
14/x
π Build a hybrid claims process
π Adhere to strict capital management to ensure there are required assets for potential pay-outs
π Build a hybrid claims process
π Adhere to strict capital management to ensure there are required assets for potential pay-outs
15/x
What do we need? π€
You! If youβre interested in contributing, hop into our chats and DMs! Weβre looking for project teams, builders, security experts and more! π
What do we need? π€
You! If youβre interested in contributing, hop into our chats and DMs! Weβre looking for project teams, builders, security experts and more! π
16/x
Let's get ahead of risk and identify threats, create DeFi safety + education, threat monitoring tools and/or other security solutions together! π‘οΈ
Be part of the change in #DeFi!
Let's get ahead of risk and identify threats, create DeFi safety + education, threat monitoring tools and/or other security solutions together! π‘οΈ
Be part of the change in #DeFi!
17/x
This project is built by @MET4BE4R, @jimmyfarmhands, @shin_chihiro & @overcryptocal amongst other epic IRL people in the metaverse π€π
This project is built by @MET4BE4R, @jimmyfarmhands, @shin_chihiro & @overcryptocal amongst other epic IRL people in the metaverse π€π
18/x
Website here - amulet.org π
Please join our community. We're in the initial stages, so join in and chat with the core team π
If you've got questions, come join our Discord channelβ discord.gg/Mv8qWYHk
Website here - amulet.org π
Please join our community. We're in the initial stages, so join in and chat with the core team π
If you've got questions, come join our Discord channelβ discord.gg/Mv8qWYHk
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