Amulet is a risk protection protocol that operates in a decentralized manner and is specifically designed for Rust-based ecosystems. It is currently running on the Solana blockchain and is the first of its kind in the DeFi space. Amulet offers a complete solution for anyone operating in the Web3 space. The main goal of Amulet is to cater to the growing demand for a native risk protection protocol within Solana and the broader Rust ecosystem. The platform relies on the expertise of DeFi cover providers to offer a straightforward yet efficient solution to its users.
Amulet relies on a combination of automated strategies and a robust security mechanism, known as AmuShield, to operate effectively. The automated yield strategies are the backbone of the protocol, as they pool users' funds for auto-compounding in top DeFi projects. This not only optimizes returns but also reduces transaction costs and manages risks more efficiently. The strategies are carefully crafted to evaluate underlying protocols, manage portfolios, and optimize transaction costs, ensuring a secure and user-friendly experience.
AmuShield is a critical component of Amulet that enhances the protocol's security. The Vault Manager, a part of AmuShield, monitors the current price of underlying pools 24/7 and triggers emergency asset retrievals if there are any discrepancies. The Amulet Vault suspends operations to minimize risks and attempts to retrieve residual funds. In addition, the Amulet Safety Fund provides financial coverage to compensate users for any losses incurred. This comprehensive security framework ensures that users' assets are continuously safeguarded against potential breaches.
AMU has a total supply of 1,000,000,000.
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