Amulet has launched its Mainnet Protocol to help resolve cover-related issues in the Web3 economy. This announcement was no surprise after they completed their seed phase and Testnet. The Mainnet officially began with a launch party at token 2049 in Singapore.
What does Amulet Offer?
The Amulet Protocol addresses the larger Rust ecosystem and the requirement for a native Solana cover protocol. In addition, Amulet will apply its expertise from DeFi risk protection protocols to offer a clear, uncomplicated, and efficient solution to this ongoing problem.
As a result, the conflict between underwriting capital stakeholders and cover purchasers is resolved by Amulet’s core offering. The PCR (Protocol Controlled Reserves) is the main architecture of Amulet, and it represents a paradigm shift in DeFi cover that actively moves toward a more scalable and sustainable future for everyone.
Most importantly, however, Amulet allows users to participate in liquid staking and cover protection, which will once again be done through an all-in-one protocol and thereby contribute to the blockchain’s security. Amulet will be created keeping transparency in mind and putting a focus on project development in partnership with the security community.
What is More Interesting About Amulet?
The Amulet Protocol is the first decentralized cover protocol built on Rust. The project, which will initially operate on the Solana blockchain and provide risk protection solutions to all Web 3.0 participants, raised $6 million in its initial fundraising round. Gumi Cryptos Capital led the seed round, and several reputable organizations joined it.
Like other decentralized cover protocols, Amulet will initially protect the risk of smart contracts. The metaverse is the current frontier; it is a topic that has recently gained a lot of attention. Amulet seeks to place itself in the best possible situation to serve as an important pillar and foundation in this digital universe of limitless potential and opportunities. Amulet plans to develop a wide range of cover products geared toward the metaverse, such as those concentrating on GameFi, cyber security, NFTs, and virtual property. These are all essential for the Web 3.0 era to succeed.
What’s in the Pipeline for Amulet?
As a starting point, Amulet is expected to follow in the footsteps of the leading decentralized cover protocols by providing coverage for smart contract risk, stablecoin depeg risk before moving into other options such as NFT and Wallet cover options. . With the advent of the metaverse, Amulet has a once-in-a-lifetime opportunity to serve as a major building block and foundation in this virtual world of infinite potential and possibilities.
Amulet looks at many metaverse cover options such as GameFi asset cover, NFT asset cover, Cyber Security cover, Metaverse Life cover, and Virtual property cover.
Amulet is bringing new life to the decentralized cover arena, with its transparency and democratization of cover providing significant improvements over the greed seen in other DeFi risk protection companies. As the Amulet protocol expands, we anticipate creating more intriguing opportunities to address other underserved markets within the cryptosphere, as they have done with DeFi and the metaverse.