Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Incentivised Posting / Shill => Topic started by: Klimovich on April 02, 2023, 05:51:49 PM
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Amulet Protocol is a decentralized risk protection protocol for the Rust-based ecosystem, originally deployed on Solana.
What risks does Amulet Protocol cover?
Smart Contract Vulnerability: smart contract failure if the covered protocol does not function as intended.
Stablecoin Depeg: the risk that a Stablecoin will trade below its peg for an extended period of time.
Slashing: slashing penalties are not currently implemented in Solana, but the project team intends to offer this coverage when this part of the protocol begins to work.
Also in development: NFT, Metaverse, and wallet insurance are.
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The Amulet Protocol was created to protect Web3 users' digital assets. The protocol was announced in April 2022 and is designed for the Rust ecosystem, including the Solana blockchain. Its developers created an innovative risk prevention system, which is designed to solve current RPP problems and set a new stage in the development of technologies related to tracking and eliminating any threats. One of the key ones is the problem of risk underwriting sustainability.
Amulet offers a simple and effective way to combat them, based on a new protocol-controlled underwriting (PCU) approach. Other existing protocols rely on external underwriters, making them less reliable. The new model also has the potential to scale steadily. The protocol is capable of preventing smart contract exploits, stabelcoin tethering, slashing, and more.
The protocol offers users not only a high degree of security, but also the ability to earn tokens through stealing. It has 3 levels of protection between claims and assets, so users' funds are secure. Interestingly, all transactions are automated, and Amulet Protocol manages claims payments through its DAO model. These advanced technologies make it even more secure.