Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Incentivised Posting / Shill => Topic started by: minaKarina on September 19, 2022, 03:12:28 PM
-
The Amulet protocol is based on one of the fastest growing ecosystems: Solana. Its main purpose is to protect users from the risks that inevitably arise when using various blockchains. Such typical risks include smart contract exploits, automatic undoing of steblecoin bindings, slashing and other unforeseen failures. It is these, and other problems, that the Amulet protocol will address. It and similar special security protocols not only help to prevent them, but are also designed to deal with the consequences.
In the area of decentralized finance, the topic of claims handling is particularly relevant. Modern algorithms of their processing are imperfect and need to be adjusted. In particular, it is necessary to stop using underwriters' funds and form reserves, which would be used in accordance with clear rules. This is exactly what Amulet developers are doing, creating a unique product based on Rust and Solana. Official statistics show that users have lost about $3 billion in 2021 because of smart contract hacking. Despite the high demand for products that would protect against risks, the existing solutions can cover the needs of only 2% of customers. Developers are confident RPP will help meet the demand.
Amulet developers intend to offer users a separate solution for liquid-stacking $SOL in the form of $amtSOL and create a protective ecosystem layer that will support $SOL and PoS cluster Solana. This is doubly beneficial: users will be able to earn with minimal risk, and developers will be able to test their products in an optimal environment for this. Another feature of the protocol is that developers will be able to use separate underwriting pools for each of their products. Users will be able to choose one or more pools and invest their assets in them. And they will be rewarded by each pool once in a certain period, which encourages them to invest more.
The pricing model of the protocol is also interesting. The developers think it's important to give users a product that will really protect them from future losses, but won't cost too much. But losses are quite difficult to predict, even if you know in advance how often losses occur due to certain risks. Therefore, for each case, the cost of products is calculated individually, based on the past performance available for analysis. This approach helps create solutions that allow the client to get reliable protection without overpayments.
-
Did you hear about SolarBlox?
What's the strategy of this token?