Amulet Protocol has teamed up with Francium, a DeFi Yield Strategy platform built on Solana, to collaborate on protecting web3 user assets.
Amulet is delighted to confirm its partnership with Francium, a decentralized yield aggregator, which is powered by the Solana ecosystem.
Amulet is currently BUIDLing a web3 cover protocol offering a simple, reliable solution to protect users against any potential hacks or vulnerabilities. Rust-based ecosystems like Solana have been growing at an extraordinary pace and Amulet’s platform is being designed to take advantage of this.
Amulet will initially launch on the Solana ecosystem before moving into a multi-chain solution. After being backed by Solana Ventures, we are delighted to confirm our first official partnership with Francium, a like-minded protocol also built on Solana.
Francium offers a variety of automated strategies for its users. These include leveraged/hedge farming, DeFi combination strategies and Smart trading strategies. Francium also offers an automation toolset for strategy builders including a DeFi automation framework, strategy dev toolset and standard SDK (Software Development Kit).
Francium and Amulet are both utilizing Solana as it is the fastest blockchain in the world. Francium also offers a guide to those new to the ecosystem and wanting to begin their Solana adventure. This guide can be accessed here.
Francium is an exciting DeFi platform where roles include being a Lender, Yield Farmer or Liquidator.
Lenders can earn variable, low-risk returns on assets by depositing them into lending vaults. These assets then become available to yield farmers looking to leverage their positions.
Yield farmers borrow assets from lending pools. Francium allows yield farmers to leverage up to 3x and borrowing interest is subtracted from potential returns.
Finally, Liquidators monitor the pool for underwater leveraged farming positions. This is when equity collateral becomes too low, sensing the risk of default, these bots will then liquidate.
This partnership will focus on reducing levels of risk, increasing elements of security and collaborating on future marketing activity. Further information will be released in due course.
Both protocols wanted to act quickly to confirm this partnership due to the acceleration of the pace of activity over the coming months. Francium takes security incredibly seriously and has previously been audited by Audit giants Certik. This report can be found here: https://www.certik.com/projects/francium
“We’re really excited to confirm our first official partnership with Francium. We’ve known the team a while and we have always been impressed by their approach to building a community-driven platform on Solana. They are always looking for additional solutions to provide their users with the highest-level of security protection and risk-reduction. We’re delighted to announce this partnership as the first of many to come in preparation for our September product launch.” Rupert Barksfield, Project Lead, Amulet Protocol.
About Francium:
Francium is Decentralized Yield Strategy Aggregator built on Solana. Offering a variety of strategies for users and builders, Francium is the place where strategy meets DeFi.
Francium allows users to explore high-yield opportunities with minimum risks. The High-Performance strategies are enhanced by their On-Chain Automated System while unleashing the power of DeFi in a simple but effective way.
The Francium team have extensive experience within blockchain, web2 and web3. Accumulating a wealth of algorithmic research and implementation experience along the way.
Join Francium community:
Website | Twitter| Telegram | Discord
About Amulet:
Amulet is a decentralized cover protocol built for the Rust-based ecosystem, starting with the Solana blockchain. Amulet has designed an innovative and open cover model, which not only effectively addresses the common challenges of existing decentralized risk protection protocols, but also creates a new paradigm shift for the whole cover sector.
Amulet is creating the industry’s first Protocol-Controlled Underwriting (PCU) approach, in which Amulet will build up its own underwriting capabilities and introduce a claim structure involving a unique Yield Backed Claim (YBC) method. This is a significant deviation from the incumbent cover models of renting underwriting capability from capital providers to a more sustainable underwriting and claim structure controlled by the protocol. The vision of Amulet is to offer simple, reliable over for everyone in Web3. With the addition of Amulet, users in the entire Rust-based ecosystem will gain access to a new way to hedge various risks with cover product offerings.
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