Introducing Amulet Protocol

[0406Antoxa1982]

AmuNation App Bounty – The Stats So Far

At Amulet, we like to do things differently. We’re on a mission to provide simple, reliable cover for everyone in web3. As we are the first risk protection protocol for Rust-based ecosystems, we wanted to create a bounty experience like no other. In August, we introduced the AmuNation app, our gamified bounty campaign that updates tasks regularly and allows our community to remain engaged. It’s been a huge success so far and has helped us massively with gaining the traction during our TestNet and subsequent MainNet launch.

It’s still ongoing, if you want to get involved, sign in or register here: amunation.amulet.org


We recently announced that we’re going to increase the AmuPoints earned and we’re also going to update our tasks. We want you to win our awesome NFT collection and so we’ll continue to provide more opportunities to increase your tally.

We wanted to provide a small update on the statistics for the AmuNation app. Our community is incredibly valuable and we’ve achieved a lot together. We want to be open with how successful you’ve been by creating this blog post for you.


The below stats are correct as of 7th October 2022:

The Global average refferal rate is approximately 2.35%

Amulet is extraordinary, why? Our community is smashing it with a referrral rate of 34.25% 🥳

That means 3733 users referred 127,888 people!

With regards to AmuNation tasks and actions, we’e already smashed our huge 1 million target! Our devs have more work but it shows the power of our community!

The team who helped developed this app have been building products and communities since the late 1990’s and we’ve been told that results like this have never been seen before. A HUGE KUDOS to the whole AmuNation 💪


All the big stats for AmuNation so far:

Total registered users : 148,248

Referral Rate: 34.25%

Total Actions Completed: 1,007,789

Average Action Per User: 6.79


Preferred Login Methods:

Phantom ( 74.42%)

Google ( 16.95% )

Twitter ( 7.54% )


Prize Stats:

NFT Winnings: 1,706

Avg Amupoints per user: 681.16

Total Jackpot Winnings: 23,134


A massive well done to everyone for achieving this success with us. Remember, if you have any issues or you want to discuss anything with the team, we’re always available on Discord: discord.gg/amuletprotocol


Resources

  *  Amulet Website  -  https://amulet.org/
   
   *  Amulet Blog  -  https://amulet.org/blog

   *  Amulet Testnet  -  https://testnet.amulet.org/underwrite/get

   *  Amulet Discord  -   https://discord.gg/uVnYPMB9DS

[НадБур]

Roadmap Amulet
Amulet has an ambitious roadmap ahead of itself. Here are a some key milestones to look forward to:

Q1 2022
Project Initialization
Product design and development
Seed funding
Early partnership development

Q2 2022
Official launch
Early testing and site launch
Open staking functions
Roll-out of major cover product offerings
Token public sale

Q3/Q4 2022
Improved staking and investment functionality
Full spectrum coverage for Solana ecosystem
B2B cover services
Metaverse products

Q1 2023+
Additional product, web, and smart contract enhancements
Multi-chain expansion to other Rust-based ecosystems
Cover for Web3.0 and beyond

[KinGeri]

This is an incredible speed!
The Amulet protocol project took only 1 week to get more than 4,000 SOl into the liquidity pools.
This is a huge achievement for such a young project.

But that's not all!
Just a few days ago, the project's Twitter account started showing 30,000 followers.
Admins have fueled this rocket and it's not going to stop!

[MrDumbas2]

This is an incredible speed!
The Amulet protocol project took only 1 week to get more than 4,000 SOl into the liquidity pools.
This is a huge achievement for such a young project.

But that's not all!
Just a few days ago, the project's Twitter account started showing 30,000 followers.
Admins have fueled this rocket and it's not going to stop!BTC

[НадБур]

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.

[KinGeri]

I don't understand what's going on, but this project has done something incredible again!
More than 4,500 SOLS have been placed in liquidity pools in just one week!
The project team did a great job!

On October 11, a new AMA will be held where they will answer questions from the community and talk about further development plans. This event cannot be missed!
The bounty campaign continues and you still have time to take part in it. Valuable bonuses are at stake and there is a chance to get one of the incredible NFT!

[Moofasa]

Thanks for the info. By the way, we often have games on our discord, you can get extra points for them and just have fun and play in the community. Amulet well done in terms of activities, constantly new)

[НадБур]

Amulet is designed to provide a high level of protection against capital drawdowns while earning returns for its participants. The realization of this objective will be
gradual, based on treasury growth alongside the buffers intended to support it. Here is an overview of Amulet's structure:



The core components of the overall platform design set out above in Figure 2 are Risk Underwriting, Product Offering and Distribution, Capital Management, Risk Management, and Claim Assessment.

[0406Antoxa1982]

Make the Claim

A step by step guide on how to make the claim

👉  https://help.amulet.org/en/articles/6172437-make-the-claim

[KinGeri]

And again they did it!
More than 5000 solana are placed in the liquidity mining.
The TVL aUWT of the token is almost 180,000 dollars

It took the project team less than 2 weeks to make such a cool result. And this is not the end! This is just the beginning!
A new AMA with the project team will be held on October 11 at 14:00 UTC.
They promise a lot of interesting news and will tell you about the project's plans for the near future.

[НадБур]

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 .

[НадБур]

Governance

$AMT is Amulet's governance token. It primarily gives $AMT token holders the right to vote and participate through governance in the protocol's development and initiatives
such as but limited to treasury utilization and rewards distribution, claim validity, target capital requirements, new products listing, treasury buyback thresholds, determining future protocol objectives, etc.

[НадБур]

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.

[НадБур]

 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.

[0406Antoxa1982]

Staking capabilities with high APY percentages now available on Amulet

s Amulet has now been launched, the crypto community will be delighted to know that the platform has officially added staking capabilities with considerably high APY percentages. As the staking function gets underway, Amulet will strive to consistently provide simple, dependable protection for everyone in Web3.


Full lnfo 👉👉👉  https://cointelegraph.com/press-releases/staking-capabilities-with-high-apy-percentages-now-available-on-amulet