Amulet Protocol — insurance protocol. AmuNation Bounty Program (rewards for tasks)!
Greetings, everyone! Today a brief analysis of the project Amulet Protocol and its bounty program, where you can get rewards for completing tasks.
Amulet is a decentralized risk protection protocol for the Rust-based ecosystem initially deployed on Solana.
Decentralized risk protection protocols provide a financial safety net for all users interacting with Web3 financial products. They generally encompasse smart contract risk, stablecoin de-peg risk, slashing risk, oracle failures, economic exploits, etc. Risk of smart contract exploits is particularly significant with over $3B lost to smart contract hacks in 2021. By offering protection against these more common DeFi risk types along with NFT and metaverse-related offerings, users and developers alike can enjoy a safer Web3 through Amulet.
DeFi has experienced exponential growth since the summer of 2020 with the influx of hundreds of billions in capital and the emergence of multibillion-dollar protocols in just a little over two years. Riding along this wave of explosive growth is a rapidly increasing demand for risk hedging.
Rust-based public chains have been maturing rapidly with growth spearheaded in particular by Solana. According to Amulet’s research, TVL on Solana has grown 5x faster than on Ethereum, and this growth is expected to continue given the distinctive strengths of Solana centered around its lower cost and higher throughput.
At the moment, risk management solutions are still relatively scarce or non-existent on Solana and the Rust-based ecosystems at large, presenting Amulet with an incredible and unique market opportunity. Amulet expects major demand for its cover products and other risk management solutions along with Solana’s continued growth and adoption.
Amulet has its own reserve system, which is controlled by the PCU protocol, rather than renting from stackers as the primary source of underwriting. Amulet believes this new model has the potential to scale sustainably.
What risks can Amulet cover:
Smart contract exploits, stablecoin de-pegs, slashing, and more to come (NFT, Metaverse, and wallet protection currently in development).
Now about the AmuNation program
Amulet has always been focused on its community, so the AmuNation app was created to do daily tasks where you can earn AmuPoints.
There’s a link to the app — https://amunation.amulet.org/r/aleksander8393
Among these tasks are: liking, retweeting a tweet, taking project knowledge quizzes (very simple questions), writing blog posts, writing an article, and creating a video about how the project works. Most tasks are very simple. A certain number of points are given for each completed task. Below is a list of tasks, but it is not complete, as I did some and they are no longer displayed. Tasks are updated daily, so there is an incentive to check in every day.
Also, activity in discord is rewarded with AmuPoints, so if you like to communicate, this is for you:
20 messages-100 AmuPoints
200 messages -800 AmuPoints
650 messages -2000 AmuPoints
1500 messages -3000 AmuPoints
2500 messages -2500 AmuPoints
There are five levels in the program. The higher the level, the higher the rewards. In order to reach a certain level you need to accumulate a certain number of AmuPoints.
Program organizers also promise to increase the current awards if the bounty campaign becomes very popular and there is a large influx of people.
I described everything in general terms. If you are interested in the Amulet Protocol or the bounty program, go to the discord for details — https://discord.gg/XeBvjyxvW8
By the way, Amulet Protocol is already in Mainet. Here’s a link to the platform — https://app.amulet.org/#/underwrite/get
There are also a few more links:
Website — https://amulet.org/
Twitter — https://twitter.com/amuletprotocol
Telegram announcement channel — https://t.me/amulet_announcement
Thank you all for your attention! I hope this article was useful to you.