On January 25, Amulet Protocol (AMU) was launched on HotsCoin. Amulet is a decentralized insurance protocol based on Rust and was originally deployed on Solana. The agreement works to create the industry's first Protocol Controlled Underwriting (PCU) approach by establishing owned underwriting capabilities and introducing a claims structure involving a unique Yield Supported Claims (YBC) approach. AMU is currently open for trading on HotsCoin.
key events
2022-04-28: Amulet Protocol completed a $6 million seed round of financing.
2024-01-23: Amulet V2 is launched, combining income strategies with embedded insurance to provide a user-centered one-stop income platform.
Preface
In the dynamic Web3 industry, "returns are proportional to risks" is a widely recognized principle. Despite the frequent occurrence of hacking incidents, successfully avoiding or controlling risks remains a huge challenge. Amulet V2 came into being, aiming to provide users with a solution to obtain benefits and avoid risks at the same time.
Introduction to Amulet
Amulet is a DeFi insurance protocol in the Solana ecosystem. It was launched in early 2022 and completed a $6 million seed round in the second quarter of 2022. Amulet V1 has achieved steady development amid the prosperity of Solana ecosystem. Based on the understanding of the needs of DeFi users, the Amulet team recently upgraded and released an income platform integrating investment and insurance, namely Amulet V2.
The clever combination of income and insurance
Amulet V2’s core features include Amulet Vaults and AmuShield, designed to provide both revenue opportunities and asset security.
Amulet Vaults
Through comprehensive analysis, Amulet Vaults provides users with selected income opportunities, and through comprehensive strategic analysis and transparent risk assessment, helps users make more informed investment decisions in the complex and ever-changing Web3 market. Using the ERC-4626 tokenized vault standard, Amulet Vaults can seamlessly integrate with multiple Web3 revenue platforms, providing users with a one-stop revenue platform. The platform provides users with asset protection through transparent risk assessment and comprehensive risk management.
AmuShield
AmuShield ensures the safety of user assets and effectively responds to various unexpected situations through 24/7 asset monitoring, emergency response mechanisms and innovative parametric insurance services. The real-time monitoring and emergency response mechanism can be activated when the price of LP tokens in the underlying capital pool falls below normal levels, and asset withdrawals can be made to protect user assets.
Tokenomics
$AMU is the governance token of the Amulet protocol, with a total supply of 1 billion. 25% of it is used for project and community incentives, and the rest is used for fundraising, liquidity launch and team incentives. Token governance adopts the veAMU token model. Users can obtain veAMU by pledging $AMU to participate in protocol governance. The token incentive mechanism includes mining rewards, governance rewards and revenue sharing, providing additional rewards for long-term loyal users of the platform.
Future plan
The Amulet team plans to further expand product functions and market coverage in 2024, including key links such as security audits, official launch, token issuance and community expansion. They also plan to promote the platform to more blockchain ecosystems and launch more self-developed revenue strategies and insurance services.
Summarize
Amulet Protocol is a service platform that integrates income and embedded insurance, providing users with a high-yield, safe, transparent and financially guaranteed Web3 income platform. Through the clever combination of Amulet Vaults and AmuShield, users can not only participate in rich income opportunities, but also enjoy round-the-clock asset security. However, investors should have a thorough understanding of the platform's mechanisms and risks before participating, and carefully assess their own risk tolerance.