Amulet Protocol is proud to celebrate one year since launching on the MainNet by offering DeFi users the opportunity to protect their assets. The year has been full of challenges with the industry rocked by FTX’s collapse just over one month after we launched our protocol on Solana.
We’ve achieved a lot since then and our MainNet launch came after working tirelessly from our project announcement in April 2022 to introduce our offering after a successful TestNet run in August.
This blog is a celebration of what we’ve achieved so far. We’re on the brink of announcing something incredible special and exciting for the next 12 months. If you want to know first, we’ve hidden a message inside this blog from a code that you’ll have to decipher! If you work it out – tag @overcryptocal via discord.gg/AmuletProtocol and you could win an Elite MetaBear! (Limited to first 3).
Let’s take a look back at Amulet from the past year:
September 2022:
Sept 29th – Amulet Launches on MainNet:
Amulet launched with our smart contract vulnerability cover solution for 6 Solana-based protocols – Tulip, Port, Orca, Solend, Mango and Raydium.
Users were able to connect their wallets and start purchasing our cover or staking their $SOL into $amtSOL or $aUWT to earn high APY.
October 2022:
In our first 2 weeks, we launched with some impressive figures:
- 271 Covers Sold
- Total Value Covered: $20,380
- TVL: $158K
As October continued, we received our first claims, all of which were from users testing our platform, but it enabled us to strengthen our procedures for claim processing. By the end of the month our MainNet statistics continued to grow:
- 529 Covers Sold (+258)
- Total Value Covered: $50,801 (+$30,421)
- TVL: $338K (+$180k)
November 2022:
In November, shortly after the Amulet team attended Solana Breakpoint in Lisbon, Portugal, FTX collapsed and Amulet had to pause MainNet activity while we understood the full situation. Cover sales were paused until November 30 2022.
We continued to focus on MainNet development and started the foundations for enabling the utility of our MetaBear NFTs, applying the discounts to HODLers
Official MetaBear utility information can be found here: MetaBear NFTs: Official Utility Information – Amulet Blog
December 2022:
As cover sales returned, we started to work on increasing our listing offerings and on December 16th 2022, we added Hubble as a new listing for users to boost $aUWT and purchase web3 protection.
January 2023:
As the new year dawned, Amulet was quick to improve the user experience further as we increased our listing offerings even further with the addition of Francium.
By the end of January Amulet had sold 818 smart contract covers with nearly $150k in total value covered.
In January 2023, Amulet also became the most followed web3 cover protocol on X.
February 2023:
Amulet introduced a further listing in February with the option of Kamino Finance.
In February, Amulet also made minor changes to our smart contract cover wording. The latest, updated version can be found here: Amulet Update Notice: Smart Contract Vulnerability Cover Wording. – Amulet Blog
March 2023:
March saw Amulet hit our 1,000 Web3 cover sales target!
We celebrated by further increasing our web3 cover listings with the additions of J Pool One and Marinade, much to the excitement of the AmuNaiton.
Both listings took off and by the end of the month, Amulet had sold 1,310 covers.
April 2023:
Amulet continued to work diligently to increase the amount of protocols available to users on the MainNet.
We added Drift and Lido in the month which was officially one year since we announced the project.
We celebrated our one year with a blog here: Happy Amu-Versary! 1 year since we announced Amulet Protocol 🎂 – Amulet Blog
We also easily broke through the 1,500 cover sales barrier by the end of the month.
Behind the scenes, Amulet upgraded all program authority to multi–sig on Squads, ensuring effortless management.
May 2023:
May saw Amulet be awarded in the top 3 in Solarplex’s awards. We were invited and took part in the first-ever on-chain Solana AMA to much success.
May saw big increases in MainNet stats as the team were developing the upcoming Vaults products.
By the end of the month, Amulet had sold 1892 covers with a value of $415k
June 2023:
June was a good month for Amulet in a tough one for the industry. Firstly, Streamflow became the latest listing available to users.
Then, Amulet was one of Solana’s biggest TVL gainers:
In June we hit 2000 Covers and smashed through the $500k TVC targets.
July 2023:
In July, we were able to offer our second cover option with our Vaults. Vaults were a response to our users asking for DePeg Cover. Launching with USDT and USDC blogs, users have the option to purchase cover in case of a depeg or to underwrite and earn an ROI at the same time.
Introducing TNT Vaults: Amulet’s Simplified Marketplace for Risk Trading – Amulet Blog
TNT Vaults – A Simple Guide – Amulet Blog
By the end of July, we were finalising efforts to produce the new personal dashboard for users.
August 2023:
August saw the launch of the Amulet personal dashboard with our new loyalty program – allowing users to earn on-chain forever.
We launched these new features with a new landing page and website! This allowed our loyalty scheme to be integrated with normal MainNet activity.
Amulet’s Loyalty Program – built to help you earn on-chain, forever. – Amulet Blog
Amulet also increased listing offerings by adding Hawksight, Socean, Zeta, Jito and marginfi.
August also saw the launch of our groundbreaking product with FYEO – Audit Cover.
September 2023:
Now, we’re in September. We’ve increased listings further with the addition of Meteora and Apricot Finance.
Now, we’ve sold nearly 2400 web3 covers and protected over $575k of assets.
Big announcements are also coming this month. Find out first with the secret message in the blog!