We took part in an AMA with the Metamoonshots community. Introducing Amulet and our simple, reliable web3 cover solution to a new audience of crypto innovators and enthusiasts.
Below is a transcript from the event itself. Feel free to use this as a reference and if you have any questions about any of the content within this, reach out to us via Discord – discord.gg/amuletprotocol
KaptinBlack
Let’s welcome our guest for the day @overcryptocal
Hello there @overcryptocal,
Welcome to metamoonshots, how are you today ?
Overcryptocol | Rob | Amulet
I’m very good! Thank you all for having me, i’m exciting to chat to you all today
KaptinBlack
Awesome!
We’re equally excited to hear from you 😃
KaptinBlack
AMA Session Details:
Segment 1️⃣: Basic Introduction with Project team
Segment 2️⃣: Questions from Live Audience
We have the above segments to go for the Session
KaptinBlack
Great then, As we begin, please reply with ” Done” after you’ve finished answering a particular Question to avoid being interrupted.
KaptinBlack
-Got it ?
Overcryptocol | Rob | Amulet
Indeed 🙂
KaptinBlack
Cool
Segment 1️⃣:
Basic Introduction with Project team
Q1. Let’s start with you. Tell us a little about yourself and your experience in the Blockchain field. Tell us Little about your Team Members as well.
Overcryptocol | Rob | Amulet
Of course, So I’m Rob and I’m leading the marketing here at Amulet Protocol. Blockchain gave me my opportunity to pivot my career towards marketing and I’ve been fortunate to be in web2 and web3 marketing over half a decade. I was introduced into blockchain with a project called Globatalent and moved to HeroToken after. In my time in web3, I noticed a lot of things that needed to be changed so I left the field for a while. I came back with Amulet as I believe a cover protocol and that extra added element of security is what will lead to mass adoption and a stronger future globally. Our team consists of Rupert, who’s the Project Lead and been building successful fintech and event companies for 15 years. We have Jimmy in charge of BD and Product who’s a former actuary and Shin leading our Tech side as well as our latest additions Martin and Hakon who assist with Community Management and Business Development respectively.
KaptinBlack
Awesome! Welcome once again Rob 🤝
Nice to E-meet you
Q2. Now, to the business of the day, introduce us to Amulet and its Concept, what are it salient features and with what benefit(s) to users.
Overcryptocol | Rob | Amulet
Nice to meet you again too! Amulet is simple, reliable cover for everyone in web3. DeFi has grown massively, even since the 2020 boom yet only 2% of TVL is protected by a form of cover. We’ve arrived to change this and to become a deterrent to the hacks and issues we see daily. Unlike other risk protection protocols, we’re the first on Solana and backed by them too and we will focus on Rust-based ecosystems. We launched in September and users are now able to underwrite, buy cover and earn through our incredibly high APYs that we can offer. Underwriting is a huge focus for us as we need to increase capacity as our covers are regularly getting sold out. Unlike other cover protocols, we have developed our own model called PCR (Protocol Controlled Reserve) which ensures that when we do pay out a claim, it’s not stakers who suffer as a result (as is the case in tradfi too). If we had existed during the UST Depeg, we would’ve paid out WITHOUT having to come up with a staking reward program as our friends had to at Unslashed and InsurAce.
KaptinBlack
An interesting read, Next question
Q3. Please give us detailed information about your Tokenomics and everything there is to know about it. Also tell us about some unique features of $AMTSOL.
Overcryptocol | Rob | Amulet
We don’t have our own native token at the moment and we don’t plan on launching one during a bear market. We will launch this when the time is right but it’s not in the pipeline in 2022. $amtSOL is a derivative of SOL and we use this for our payouts and earnings. $auwtSOL is our underwriting token which also allows users to underwrite capacity. This is all part of our PCR approach. Users with $auwtSOL receive high rewards, especially as each EPOCH passes. This should all make sense on our app: app.amulet.org (http://app.amulet.org/). We may not have tokenomics live at the moment but we do offer more valuable rewards including our NFTs (Gold, Silver, Bronze) which community members are currently trying to earn via our AmuNation App campaign (amunation.amulet.org (http://amunation.amulet.org/))
KaptinBlack
Oh, That sounds preety strategic.
Thanks for clarifying that up 😃
Q4. Talking about partnerships, Can you also tell us about your current partners and who are also your prospective partners. Also Provide us with some brief Information regarding Security.
Overcryptocol | Rob | Amulet
Our current partnerships are mainly the protocols that you can see listed on our app, (Francium, Orca, Raydium etc), these protocols must go through a stringent risk assessment before we’re able to list them as a protocol to purchase smart contract cover on. We also have other partners such as Kudelski who completed our audit to ensure we were market ready. We’re in regular discussions with all partners including myself who focuses on marketing ones. Hakon is working daily on this which is why we brought him onboard.
KaptinBlack
You earlier spoke of NFTs,
Can we see what these NFTs look like ?
Overcryptocol | Rob | Amulet
I’m trying to attach but it won’t let me! They’re called MetaBears and they’re in Gold, Silver and Bronze with different utility including staking rewards, vesting rewards and incredibly valuable policy discounts
KaptinBlack
Oh, Alright then. Maybe you can send those in my DM,
I will forward them here
Overcryptocol | Rob | Amulet
Works on the phone! This is Martins MetaBear
KaptinBlack]
Oh, Beautiful!
Overcryptocol | Rob | Amulet
I’m a bit jealous of his so i thought it’s best to share his! On our Discord, some have already been awarded so look at display pics on (discord.gg/amuletprotocol)
KaptinBlack
-Haha, Well guys do well to check out the discord for more
KaptinBlack
Dropping the last question now …
Q5. In terms of development status, what are you presently working on? Also, could you give us a rundown of your top 2022 priorities to date?
What comes next for Amulet?
Overcryptocol | Rob | Amulet,
We’ve had an exceptional 2022. We announced our project in April at DevConnect in Amsterdam and this was shortly followed by our seed funding announcement. Since then we’ve been building our community and getting ready for launch. We did this organically and we grew steadily and this became more extreme when we started our AmuNation app. We achieved top 5 most engaged Solana projects in only 3 months of existence! The AmuNation app is a bounty campaign that is still ongoing and will provide users with valuable rewards. You can all join in: amunation.amulet.org (http://amunation.amulet.org/). You have to complete tasks and there are also daily spins. We have plenty of community events too (3 already this week!) and you can win points and SOL on them too! We then had our audit results, successful TestNet and our MainNet has been live for 3 weeks TODAY! We’ve sold over 400 covers already and so it’s never been more important to earn those underwriting rewards! This time next year, we plan on being the BIGGEST multi-chain cover protocol in web3 (not just Solana)
KaptinBlack,
Impressive! Kudos to the team!
That ends the Introductory segment Thanks for your well detailed answers
KaptinBlack
Now moving to the second segment
KaptinBlack
Segment 2️⃣:
5 Best Questions from live telegram Q&A
In this 2nd segment, I will open the group for some seconds for the live community to shoot you some pressing questions.
Please pick 5 original questions to answer.
Try to ignore generic, vague, and copy-paste questions
Overcryptocol | Rob | Amulet,
sounds good to me!
KaptinBlack,
Here are the rules fo everyone participating to follow
Please start answering once I’ve muted the group
Unmuting in 5️⃣
Halt!!
Thank you everyone for your questions.
Now lets take some answers from Rob
@overcryptocal please select best 5 and answer those
Marco Polo
I read that Amulet Protocol is based on Solana. Can you tell us why you chose to release Amulet on SOLANA? What are the advantages of SOLANA in terms of energy efficiency to the Amulet? Can you tell us about the different advantages and benefits that Solana brings to Amulet?
Overcryptocol | Rob | Amulet,
I’m going to start with this one. Amulet was born as an idea last November at Solana Breakpoint. We’re going again this year in a couple of weeks. We sat back a bit while DeFi had its 2020 boom and then we looked at others and what they wee doing. After this, we deeply analysed the growth of Solana compared to other successful chains and the possibilities. This meant we wanted to launch on Solana initially and take advantage of the faster speeds and lower transaction costs. We aren’t only going to be on Solana, we will be multi-chain on Rust come Q1 next year if all is well.
KaptinBlack
Marco Polo
1st winner, Congratulations 🥳
ROMA
What other Rust-based blockchain projects do you plan to implement in the future?
Overcryptocol | Rob | Amulet,
-We’re looking at all of them and we’re open to suggestions. We haven’t made the decision of which Rust-based ecosystem will be next but we have an idea and therefore I can’t really reveal. We’re a community led project so if you have a strong belief in one, we’d love to hear it and invite you to chat directly with us at discord.gg/amuletprotocol. We’ve got to make sure they are right for us but more importantly, our community and users
KaptinBlack
Roma
2nd winner
Congratulations 🥳
3 more to go
Sad|_Boy
Revenue is an important aspect for all projects to survive and be sustainable. So what is Amulet’s plan to generate profits and revenue?
Overcryptocol | Rob | Amulet,
We’re already generating revenue with over 400 covers sold! We also make revenue from a variety of sources including in fees and premiums. We’ve launched in a bear market but people still have assets and peoples assets still need to be protected. This market kills off projects without value and we’ve launched and are already bringing in revenue. It’s only going to get stronger as the market stablises and more people are aware that they can protect their assets with Amulet
KaptinBlack
3rd winner
Congratulations 🥳
Descendants
Smart contracts are prone to failure and many projects fall victim to this, costing users money and losing project reputation. How reliable and secure are your smart contracts? Has Amulet tested it on any side?
Overcryptocol | Rob | Amulet,
I’m going to answer this one as i feel it’s pretty important and it’s exactly why we exist. Our smart contracts were audited by Kudelski and they ensured we’re market ready. We offer smart contract vulnerability cover due to the issue that you’ve mentioned. It is our first cover that we offer. Why? Because of literally what you’ve said! That’s why we provide the protection for protocols that have gone through our stringent risk assessment and we’ve approved for a cover solution, allowing users (both B2B and B2C) to protect their assets against these smart contract exploits
KaptinBlack
Descendants 4th winner,
Congratulations 🥳
Last one now
N f T 🔥
What do you have?
1️- Telegram Group
2️- YouTube Channel
3️- Medium
4️- Discord
5️- Twitter
6️- Website
FOR this project , where can I get the latest information and what is the latest plan for your project?
Overcryptocol | Rob | Amulet
I always answer this question last as it keep its fresh to follow all of our socials!
Website – www.amulet.org
Twitter – www.twitter.com/AmuletProtocol
If you follow me, you’ll get extra brownie points: www.twitter.com/overcryptocal
Discord – discord.gg/AmuletProtocol
YouTube – https://www.youtube.com/channel/UCHSHZVTy0c3RcKT9-HdOtjA?app=desktop
TG Announcement – https://t.me/amulet_announcement
Blog – www.amulet.org/blog
LinkedIn: https://www.linkedin.com/company/amuletprotocol (https://www.linkedin.com/company/amuletprotocol/)/
KaptinBlack
N f T 🔥 5th winner
Congratulations 🥳
That makes 5
Thank you for your time Rob
Overcryptocol | Rob | Amulet
Thank you so much for having me
KaptinBlack
Now we to wrap up the session,
Do you have any closing remarks ?
Overcryptocol | Rob | Amulet
Only that we’re live so get started today: app.amulet.org and make sure to join our Discord (discord.gg/amuletprotocol) if you want to be a part of an incredible community dedicated to protecting everyone in web3!
KaptinBlack
Awesome!
Thanks once againBest wishes to the team!
We wish to see you once more
Bye! 👋
Overcryptocol | Rob | Amulet
thanks again! bye 🙂
KaptinBlack
The AMA with Amulet is now concluded,
Thank you everyone for participating,
Below are links to stay updated to the team.
▪️ Telegram :
https://t.me/amulet_announcement
▪️ Discord server:
http://discord.gg/AmuletProtocol
▪️ Twitter Page :