Amulet Protocol officially launches on the TestNet
ABOUT AMULET
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 . Existing DeFi risk protection protocols rely on external underwriters to provide capital for claim payouts and cover capacity, which introduces unique and difficult challenges over business sustainability. Amulet is creating the risk protection industry's first Protocol-Controlled Underwriting ("PCU") approach. This is a significant change from the incumbent model of renting underwriting capital.
Amulet Protocol officially launches on the TestNet, a monumental step towards launching onto the mainnet
Amulet Protocol is delighted to confirm their official TestNet launch, opening the test platform to members of the AmuNation.
This news will come as no shock to “Early Contributors” for Amulet, who were given exclusive 24-hour early-access as a reward for all the hard work that they have dedicated to promoting our project since our announcement in April.
As September has now arrived, we are entering the most pivotal moment in our history to date. As per our official roadmap, the TestNet launch is a decisive step before we can launch onto the mainnet itself and users are able to start to protect their digital assets with Amulet officially.
Access to our TestNet is available here: https://testnet.amulet.org/
Why have we launched on the TestNet?
To be a success, we need to ensure that our solution is market ready. Deploying onto the TestNet now, allows our dedicated community members to experience our product and check out the functionality.
It is a vital element for our journey, and we need our community to work together to decipher potential bugs or issues. This allows us to continue to BUIDL in the background while also fixing potential errors that can only be found through others testing.
As a result, we have launched a new channel on our Discord to report anything or to provide any feedback. You can have a real effect on the success of Amulet Protocol. Just enter our server: Discord.gg/AmuletProtocol and find the #testnet-support-zone channel.
So how do I take part?
Now, the TestNet is open to our whole community (the AmuNation) after Early Contributors enjoyed their “Sneak Peek” yesterday.
To take part, enter this link: https://testnet.amulet.org/ and check out all the functionalities of our future platform. You should be able to test all the various functions – underwrite, cover, and earn via this link.
Make sure you change the network in your wallet to “Test Network” and you can receive test SOL from this website: http://solfaucet.com
We will also be adding some TestNet tasks to the AmuNation App – this means you can earn rewards while testing our project. Sign up/Log in here.
Vigilant testers will also be able to spot some of our partners that we have yet to announce publicly. More reasons to get stuck in and test.
The team will be available on Discord to help you get started!
for more information visit here:
website : https://amulet.org/
twitter : https://twitter.com/amuletprotocol
telegram : https://t.me/amulet_announcement
discord : https://discord.com/invite/amuletprotocol
CREAT BY : XYUAPA