We sat down for our bi-weekly AmuNation AMA! 🧿
In this event, we discussed:
😎 A background to Amulet and how we started
🪙 Tokenomics
🫂 Future community plans
🕹️ Games Night and future events
💾 The teams bad crypto experiences
🛣️ Wen Roadmap?
Below is the audio and the transcript from this event:
Audio:
Transcript:
Rob – Amulet
Awesome. So, I mean, we could we could wait. And, no, well, we’ve got a lot of questions, I know Jimmy’s not here. Yeah, but I’m sure you, you and Shin could cover anything that may or me if we’re not, we can might as well just get going if that’s okay?
Rupert – Amulet
Let’s get in. Yeah, no worries.
Rob – Amulet
I’ve never been, I like this community so much, because this is the second time now I’ve been told my accent is okay, when usually people don’t understand a word that I say.
Rupert – Amulet
What was that?
Rob – Amulet
Someone just said they liked our accents. But I appreciate that, because no one usually understands me. So I like that. So as a quick introduction, just as you’re doing everything. So I’m Rob. Marketing at Amulet, We’ve got Rupert, who’s the Project Lead and the big man got Shin who is in charge of our tech and the tech team. And there’s also Jimmy, who should be coming a bit later if he can. He’s in charge of products and business development. We’ve got a lot of things going on. We’ve got a lot of questions. The community is growing. So I’m just gonna kind of start and head straight into it. If that was all good with you. Rupert and Shin.
Rupert – Amulet
Yeah, certainly but you’ve just missed off one person on the team.
Rob – Amulet
Just miss I missed off Martin/Pinto. I’m so used to not introducing him, and I forgot. So we’ve also got Martin, who is the newest, well Pinto as we probably prefers to be called, who’s the newest member of the team and you will have noticed him because he’s everywhere on Discord. He is our Head of Community Management. It’s been doing some amazing things. The games night last week was really awesome. Yeah, I’m really happy to have him on the team. If you want to say hello, Pinto?
Rupert – Amulet
Doesn’t want to say hello
Rob – Amulet
I though that might be the case
Rupert – Amulet
You’ve doxxed him.
Rob – Amulet
I’ve got loads of questions that he could have answered instead of me no I’m joking. So yeah, so we’ll we’ll get into it. We’ve got quite a few questions. I will read it in order. So if it seems a bit of a random order. That’s, that’s totally okay. It’s just I’m doing it in the order that they’ve come. We’ll try not to repeat ourselves. And we’ll try and answer everything. And as usual, there will be a recap tomorrow. So we’ll start off with the question we actually got. It’s to do with tokenomics. So I’m guessing I mean, it’s a difficult one to answer specifically, because of the way the question is written and the way I read that, but I’ll ask it, and then hopefully, you can give me an overview of what what to do there. So the question is, Where can I buy tokens now? And is it 100%? Safe? And is this your is your project only for elite investors? How about others with small funds? Is it open to everyone? So I’m going to pass that to Rupert
Rupert – Amulet
Yep, sure. No worries. Is there a token that you can buy for the project? Yes, there will be. There is no token right now, we are looking to do a token generation event or a TGE, sometime in the future. To be honest, I haven’t got a set date for exactly when that’s going to happen. It could be as soon as q4 this year, it could be as long as q1 Next year, maybe even longer. It really depends on the market. And we want to do what’s best for everybody. The one thing I can say, though, is by being part of the community and being active within the community, and certainly if you interact with the campaign that we’ve got coming up, the more tokens you can look to earn, you can be whitelisted, in terms of be able to get those tokens early than everybody else. And Lcryptonet, would you mind muting?
Rob – Amulet
I’m just gonna mute them. Did that mute for everyone? Or just me?
Rupert – Amulet
I think it’s just you chap
Rob – Amulet
Okay. How about now?
Rupert – Amulet
There we go. Yeah, that did it. Anyway. The Yeah, so we’re not exactly certain on the exact date of the TGE event, but by being part of the community, everybody’s gonna be rewarded ahead of that time. And so, is it only for elite investors, in my opinion, and this is more kind of philosophical point of view, there is no such thing as an elite investor, no such thing as a sophisticated or unsophisticated investor. In my opinion, I’m not a financial adviser. And I’m not saying this in terms of some sort of FCA FCC rulings. Of course, they have their own definitions, but my opinion is that everybody’s the same. You know, we all have our bodies working the same functions were around the world. So I like to give out opportunity to everybody. So yes, we will definitely be giving opportunity to the community to be able to get more unclose access to projects. Typically, in a crypto project, as you guys probably all well know, they do very, very well at the beginning there. And so we want to give you guys the benefit of that, obviously, we want to encourage you to keep in support of us long term as well. And we’re not a flash in the pan project. We are here for a very, very long time to help build our safety and support across the whole ecosystem over the next 10 20 30 40 years.
Rob – Amulet
Awesome. That’s a Well, I mean, wishful thinking that will be alive in 40 years. At least you be but I probably won’t. But yeah, so that awesome. Thanks very much for that. I’ll move on to the next question, because we have so many. The next one that I will ask and I will also answer because it falls into my category. So the question for Misha 1985. is are there any new collaborations coming up? Are there any specific ones? Or are they in the process of being agreed upon? Now, I can tell you that we are talking to several partners that we have agreed on. We’ve got quite a pipeline. But we’re going to announce each one when the time is right. There’s two in particular that will be announced, hopefully before the end of this month, which is obviously we work with them each time that we do it. And we need to make sure it’s right. But there they are, they have to have the same, I would say they have to have the same alignment with regards to mission, obviously, we’re focused on protecting her definitely defi assets. And obviously, they have to be aligned when it comes to the security and when it comes to actually mass adoption of web3, because that’s why we’re here, we want to be able to provide cover solutions for everyone in web three. So our partnerships will have to have that same mentality and the fact that you know, they’re in it for the long term. And that’s what we’re the whole plan is so there are new collaborations coming up, they will be announced in due course. They will, I’m hoping for one this week, but it might get delayed from the conversation we’re having at the moment. Or it might not be the same as usual. But let’s see, each one will be exciting. And obviously, we have got at the moment of focus on the Solana based ones, because that’s where we’re being built on first. I’ll move on to the next question, which I’ll probably also have to answer myself. So opera 255 has asked, Will there be any other roles in the channel later? And for the sake of efficiency, I can tell you that (username) has also asked that question just now, there are those coming. As you can see, since our last bi weekly AMA, we had zero volts, just a couple of moderators, one would have been Pinto, who’s now joined the team full time, we also had the we also had the moderators that I’ve spoke to Mieson and Cai who have been fantastic and help him with the Chinese and the Russian communities. Since before Pinto came. As you’ve seen a lot of you, there’s been the early contributor role that’s been announced, there is something coming but we don’t want you all to be excited. So I don’t want to reveal the actual specific details in the AMA, because that will, it deserves its own announcement, not just a little mention within one of these. And then again, in the AMA recap blog, they are coming we’re working really hard on something in time for the end of this month, beginning of September, which is going to be really super exciting for literally everyone on this channel. I’ve been doing a lot of the work behind the scenes on some of the stuff and it’s just so fun. So I guess the best way is just keep tuned, keep keep doing what you’re doing because there will be roles and it’s going to it’s not just like we’re saying it’s going to be soon and it’s not going to be soon. There should be something happening by the end of this month, beginning of September at the latest. So that should clear things up there. So the next question is from Dimajo, who is one of our early contributors. I know specifically because all my tweets very well. I get promoted very well by him probably since the beginning since April, May time. There’s two questions here. One, I’ll answer the first one. And then the second one. I’m going to going to pass over to you, Rupert or Shin if you wanted to answer it. So the first question is if the release is planned at the end of September, do you already have a well thought out marketing plan? How will the project progress and will new partnerships await us? Yes, yes, yes. No, I’ll say more than that. We do have something planned again. There is a well thought out marketing plan. So the high end overview is you will notice say, Oh, I’ve just seen so it turns out Pinto I muted a long, long time ago. So he did have issues. I blocked you out. So welcome Pinto Yeah.
Rupert – Amulet
I will be
Martin/Pinto – Amulet
Yeah. Welcome, everyone. Nice. Nice to see so many so many of you guys joining the, our session. And to be honest, Rob, you answered the question perfectly, then it’s nothing nothing for me to add. And with with some of you guys, I already chat then as Rob said, Soon sooner we’ll share more information about those roles.
Rob – Amulet
Brilliant, thanks very much for that. And I’m glad glad. I’ve also just so you know, Nikolay, I’ve also muted you forever, for once when you are making a lot of noise. So I’ve now given you your permissions again. Especially as you’re an early contributor. So then first, going back to the question that I had, that we did, on the high end level, there will be obviously PR activity, it’s a big moment for this to launch. There will be other stuff happening around the date. But we want that surprise element to be there. That group has actually been organising himself, the actual launch date itself. Sounds very exciting, but I don’t want to reveal anything that might ruin it. But with regards to an actual specific marketing plan, absolutely. There’ll be PR campaigns, there’ll be our social media campaigns, there will be more partnerships, there will be further with the partnerships that we’ve already announced, there will be further understandings as to actually what that partnership entails with the app being live. So there’s going to be some really exciting stuff. But right now, we’re just going to work as hard as we can to get that right. And to basically ensure that we have a bullet proof project for the time that we do launch on the main net. And the second part of the question is you mentioned in NFT, and the bi weekly review, can you name some utilities for future NFT. So I’m gonna pass it over to you Rupert, if that’s okay?
Rupert – Amulet
He kind of threw that hand grenade over at me.
Rob – Amulet
It’s also my fault because I wrote that in the review.
Rupert – Amulet
In short, I don’t want to give away again, I don’t want to give away too much. At the moment, the the the the NF T’s that we’re designing are really, really cool to look at. But obviously, we are a risk protection company at the core things or should I say, a cover protocol, the, the true utility will unfold over time. But it will include things like discounts on our cover and other awards that you’ll be dropped over time. So you will definitely want to get hold of these, they will be incredibly valuable in the future, just by the sheer discount implies to them, the other people will absolutely want to buy them at huge values in the future, I’m not going to necessarily say within the past year, you will never necessarily get huge rallies for them. But they hold on to them. They are extremely, extremely valuable things. And there’s multiple tiers of them as well. So there’s there’s some that are much, much better than than others and, and get you a lot more stuff. So work hard, get as good as you can.
Rob – Amulet
Awesome. Thanks very much for answering that bit. That also, that was also asked again by as part of the next round from Elijah’s questions. So I won’t ask that again. Obviously, the questions Elijah’s got this one. I think I’ll answer the first bit and then I think I can pass some Well, I think I can I get get a bit of an update from you, Shin with regards to it, because I know that something changed, well not change. But something you could probably add today. So the question is, is it planned to launch a test net before the main net? And will community members be able to take part in it? Shin, are you okay with answering that one? Yep. So as we have planned so once after we get together with that next question, are you planning to do the auditing. So the original plan is after we finish our audits, which is doing soon, so you will be soon here some updates once we have the final reports. And soon after we publish our final auditing report, we will be launching our test net so you will be open to the community members. So you will be or we will be taking the first look at the product and try that out. Cool. And with that second question that you mentioned with the audit, I think that one’s more specific to Certik themselves. So is Certik one of the companies we’ve got planned or
Shin – Amulet
so for the first one we we are doing it with Kudelski. So it will be the add in you will be one of the leading auditors in the Solana space. And for the second one we are yet to plan it but that will be on our list as well.
Rob – Amulet
Awesome. I did know the answer to that. I just wanted to make sure that Ilya got the follow up to that. Brilliant. Thank you. Cool. So Oooh, Ilya, did I tell you something that I shouldn’t have told you? So the question here from Ilya is…This week is the release of the Amulet roadmap? question mark? Yes. Should be, I will keep your eyes peeled it should be this week. The designs been done It looks pretty cool. We’re going to we’ve done a very short blog post to kind of go along with it. So yeah, the plan is actually that it gets released this week, and then more gets released next week in time for the testnet launch. The second question is, Will community members be able to participate in IDO? And if so, what are the conditions of this? And do you plan to post white paper on Gitbook or similar platforms? To do those two questions? I guess we found we got we kind of covered a little bit before with the first question. I don’t know if there’s anything with those two that mean, there will, we will have our lite paper back up. And then if there’s anything Shin or Rupert wants to add there?
Rupert – Amulet
Yeah just the fact that we have got a GitDocs that is due to go live very soon, there’s a bit of a bit more work to go onto it. So that’s what’s taking us some time. And of course, it’s a continual work in progress anyway. So yeah, watch this space will, will go live. In fact, it’s in Rob’s to do list to get it live
Rob – Amulet
Indeed and I did chase certain things up on that today. So it should all be okay. But I will probably not be at once I’ve gone through it, I probably won’t be able to speak proper words, as I will have read so many. but that’s all exciting and for you to be able to read it when when it does go live. Cool. So moving on to Vitya. Vitya asked me and I’m going to put these three together. No, I’m not going to ask the first two and we’re going to ask the third and then we’re going to answer. So we’ve kind of already covered Will there be a community rewards programme? Yes, keep your eyes peeled. And that will be the same with recruitment of moderators and ambassadors. And Martin, who or Pinto, I needd to decide to call you one or the other.
Martin/Pinto – Amulet
Whichever, whichever suits you.
Rob – Amulet
Well, we’ve, what did I want to say here? Yeah, so with regards to that, that Pintos in charge of that’s one of the things he I told you two weeks ago that I watch everything you do. Now, you’ve got two Big Brothers watching everything that you do, say that Martin Martin will be the person to speak to, but they’ll be the person to speak to, I will also I will be with him when he makes those specific decisions. But he will be the first person to point certain people my way. So definitely keep doing the good work. And he will notice.
Martin/Pinto – Amulet
Just from my end, I can confirm we have already already Plans with the roles, I can’t say any specific yet, obviously, you guys doing exceptionally job, which we start recognising if you haven’t received your early contributor role, don’t worry, we’re just going through our list just to make sure that then everyone who join us participate in the community, it will, it will receive the role about the moderators of future roles. That will be officially announcement just to make sure that everyone have the full, full details and description of those roles.
Rob – Amulet
Cool, thanks very much for that. And the third question a video of us, which is in my my area, which is are there plans to create local communities and social networks. So as you can see, we’ve already done certain stuff with regards to specific languages. And Ilya, who asked the questions before is very good at doing with the CIS community translates absolutely everything, literally after I post it. So we do have some with regards to specific social, social networks, specifically within those languages. It depends for now, there’s no immediate plan, but it will depend on how each community takes for example, it’s very clear to see that the Russian language speaking communities, and the Ukrainian one and the Chinese one are the three that I’ve got the most traction at the moment. If we can see there’s real value in it. Because at the moment, you’ve also got to realise we’re very small team. So we want to make sure that everything that does go out it actually has quality within it. So when we’ve got the capacity to be when we’ve grown to that stage, and we’ve got the capacity to really track it properly. I think that’s that’s when we’ll do it and trowel it but ideally we want it I mean, always if you think you can put post something to me do it. And if I liked the idea, I’ll probably approve it. So always come up with if you feel that’s appropriate. So I’ll move on to Yeah, Grover, are there plans for contests dedicated to the theme of the project? And with the idea of sites? I’m going to ignore that question, because we covered it earlier. So with regards to the contest, some of you will have seen last Thursday, we had 1910 followers, but then some robots got deleted on Twitter, I guess, because it went down on Saturday. So there is a current competition at the moment, which you can be involved in. It’s one I just came up with last week to celebrate hitting those 2000 followers, because it has all been done. Pretty much organically. We’ve not done any airdrops or anything like that yet. So the the type, the type of the, we’ve got a competition for you to beat to you to basically design that post for 2000. Followers. I think the fairest way to do it is we will actually ended up doing with this particular competition and contest, we’ll end up doing two, two winners, one picked by the team. And then obviously, we’re a community driven platform. So I think it should be best that the community also designs on a winner as well. I think as well, because from a team perspective, I think there’s one me and Rupert of both, I’d up and it would be pretty hard to beat. For the sake of fairness. I think it would be good to have two votes. And there will be over competition soon. This was really my trail. And I know it’s something that Pinto is very keen to set up as well. If you want to add anything that you’ve got in mind there.
Martin/Pinto – Amulet
I will just go with very shortly, just look on the announcement after this session, then yet more details will be with you in around half an hour.
Rob – Amulet
There you go. And so that’s fantastic. So where am I up to? Right, so that bit that’s fantastic. So the next one will we’ve Ginga’s question, we’ve really shouldn’t covered it previously. It is currently scheduled for the first of September around that time, and yes, the community will be able to participate in the testnet. Moving on to knrPRF, we have to stop me from speaking. I’m gonna put this one over to Rupert. But the first question is, how are you better than your competitors?
Rupert – Amulet
Good question. In short, it all comes down to our unique structure. So with our competitors out there in the market, they work on the same structure that’s been put together about 300 plus years ago, whereby there’s a two sided structure, you’ve got people who stake on one side and people who take out cover policies on the other side. And that works absolutely fine until there’s a claim. And when there’s a claim, you then have to make a decision as to which party on which side of the of the of the system, you’re going to disappoint. So if you pay out that claim, you’re going to disappoint your stake and the capital for that is coming directly from your stake as capital. If you don’t pay out that claim, you disappoint your claimant and your policyholders who took out a policy with you purely based on the fact that you will pay out if the worst happens. So it is a system that is skewed and it doesn’t really work properly. And it’s why cover companies often get a bad name. Now, what we’ve done differently enabled by the Solana ecosystem and the other rust based chains that we’re looking at in the future is put in something we call a proof of stake validator. Now, this helps run the Solana network. And we get paid by Solana for running that validator. So we take staked capital, we put it into the validator which generates a yield. And is that yield that is used to pay the the the claim. So at no point are we you know, trying to attack state capital, we’re always utilising the yield of the platform. And we’re always able to play out on claims as well. So we think it’s a better structure, we think has only been enabled in the last year or so, since we’ve had kind of proof of stake validators and nodes and other ways that we can generate capital without having to risk funds. And so we Yeah, that’s that’s how we’re different to all other platforms out there. And what makes us unique and what’s making us grow so damn quickly. Cool,
Rob – Amulet
I’ll say because (username) has also asked so, one of the questions was about audits we’ve already answered, but to follow on from that, that just asking for a bit of history, so I don’t know if you want to go over Little bit about meeting in Solana Breakpoint in November. Just just to give that little bit of background again, at times, yeah.
Rupert – Amulet
Very brief history for me I’ve been in, in around startups for a very long time now. But my most recent startup before, this was a company called Pink, which I exited successfully last year in July. And when I exited that business, I started getting interested in DeFi cover and had an opportunity to build what is now amulets. So I took that opportunity is my my next kind of venture. And it really came about at the back end of last year, and we consider our first week of operation being Solana breakpoint last year, which is an event held by the Solana foundation in Lisbon. And so that event is fast approaching this year and November 1 week of, of November, and that will be effectively our first year of operation. All wrapped up. So within a year, we’ve been able to take an idea through to racing around building a product, building a team and, and really, in my opinion dominating the industry. But we’re still very small and and growing right now. But this is a something I like to do and build and so yeah, I’m very excited about the future. Awesome.
Rob – Amulet
Someone else, I’m ready to mute
Rupert – Amulet
I think it’s Shin you need to go on mute
Rob – Amulet
It wasn’t it was it was (another user). Awesome. So Adaya has asked, Adva sorry, that’s because I’ve got a friend called Adaya so that automatically came into my head, asked for questions don’t need to cover the ambassador don’t need to question the roadmap. And I didn’t need to question the audits. Because we don’t need because we’ve covered over a day there is one about how often there are AMA’s. We do this bi-weekly. So it’s usually same time usually on a Tuesday. In fact, it’s always has been so I don’t know why I said usually. And it will continue to be AMA’s with external companies will be more varied. And also AMA’s of partners will also be more varied. But these amas where us as a team are talking directly to you guys. That’s every two weeks. Okay, so now I’m going to GeneralX, I’m going to ask as it is I see that Amulet Protocol prides itsself as a DeFi protocol, that ensures this protection of state because while ensuring they receive a staking rewards, I’m into the liquidity space and I’m very familiar with liquidity protocols like Orca, Raydium, Penguin, Hubble, etc. Within the Solana ecosystem, what would you say is the major difference between amulets and these mentioned protocols? And also, would you consider them your competitors? Well, I’d say they’re not our competitors. And do you want to? Do you want to take that one Ru?
Rupert – Amulet
Yeah, they’re absolutely not competitors. They are, in fact, partners of ours. So if you look at people like Orca and Raydium, and Hubble, for that matter. They are protocols that we are looking to be covering. Raydium is definitely on that list. Hubble’s definitely on that list. And in fact, Orca is as well. So when we come to launch later on in September, we are going to be providing cover for those protocols, meaning that if you your funds that you have staked and LP’d, on those platforms are at risk of being stolen, and $12 billion of it was stolen last year. So don’t just think, oh, they had that hasn’t happened yet. It can’t. When you’re looking at something like radio and radio, it is a very, very complicated platform, there are a potential loopholes all over the place. And whilst the developers who are friends of ours are extremely good, and we believe in them as as we do in our own team. There are always unknowns and ways that people can hack protocols, and that’s where the safety net is required. And that’s why we provide cover specifically for those full
Rob – Amulet
And I will shorten the second part of the question and answer it myself. It basically is asking whether we’re focused on just building or engaging the community and we’re focused on both there’s no separation there. For example, Shin is working extremely hard with his team on the actual building and development side and Pinto has just joined, so you can see we’re doing as much as we can to to be community focus, we are in a unique position where you guys can have a real big say on where we go, because you’re the early contributors to this to this community. So we are focused on both, I’m not going to separate either of them, because we want to be the best of the best in both.
Rupert – Amulet
I would just add to that, that that the token that we’ll be launching is a governance token, it is extremely important that we have a good, strong community that understands what we are doing, and looks up the things that we need you to do. Because it will benefit your token holding as well.
Rob – Amulet
Absolutely. So just for the sake of time, we’re going to try and get through these final ones. What blockchains do you plan to support in the future? And how will you protect the system? them some hackers? Well, the we’ve kind of covered this, obviously, where Rust-based ecosystem so I don’t know if either you or Shin want to say specific names of what we’re looking at, at the moment. I know, Jimmy usually covers this most weeks, because we do get asked that a lot. And I’d say the main thing is…Go on Shin
Shin – Amulet
I mean, from technical self, of course, we have been monitoring all the newer changes as well, but I can’t name it because well on our side, we are definitely taking a closer look on all those new technologies. But I mean on our the car for more major focuses or growth depends on other space at least this is where we start in route it, but along the same time, if I mean the time and the technology matures along with I mean the market will be moving to the new chance as well. So, there’s about the first one and the second question how I mean the protection wise as cover Of course, it will be what we call a reactive production, it will be I mean after the events happens, but also we are looking at from an technicals that we are looking at proactive protection which is we are trying to monitor the on chain activities such as a deployment or I mean, like a potential hacks towards certain protocols. This will be also some proactive approach will taking from I mean, protecting the the ecosystem. So this is also one of our major close after we launch our products, so yeah. Awesome.
Rob – Amulet
And Rupert, can you just briefly take over for two seconds? I’ve just got to do a very quick task one second. Yes.
Rupert – Amulet
Actually, I wanted to to add on to that, that answer a little bit which was you know, it is important to remember that Amulet is multichain. Whilst we are very heavily in the Solana ecosystem right now we don’t believe that there is just a single chain future we actually believe that there’s tends to be more of a a split chain future whereby if you are a game perhaps you’re gonna focus on immutable eggs if you are in defy perhaps you’re gonna focus more on Solana or a another chain, you know, if you’re an NFT project, you’re gonna focus on another and it’s, it’s, we feel like it’s gonna be quite kind of broken down by that. So when we’re looking at alternative chains in the future, we’re thinking about what the community and the ecosystem looks like, on that chain. And so that’s the, one of the the things that we consider when we’re looking at alternative chains. Anyway, so I was just trying to pick up where Rob was, are we still on GeneralX’s question?
Rob – Amulet
Yeah, sorry. I’m actually back the situation is I’m working from a friend at the moment and it’s about to rain which is very rare so I had to take in all of her covers otherwise she would never let me work from here again. That’s what it was. I’m back now. We were up to we answered that one. Then we answered about story behind that and we covered new partners. I like this one, can you even though it’s been covered a little bit and people should already have an overview. Can we explain Amulet Protocol, basically to as if we were talking to someone’s grandmother. I knew that because I can’t communicate all the time very well, i’m joking
Rupert – Amulet
That we’re that that’s that’s why we’ve got you as our head of communication to the text. Thanks, Rob. In short, the way that we tend to explain it to people You know, friends and family and you know, our grandmothers is that we are a cover tool or in in crypto terms we say cover protocol. And what that means is essentially we are the glue that allows anybody to create protection on top of our system. Now initially, as we come to the market, we’re obviously doing smart contract risk and we’re doing stablecoin depeg too. And to explain those out a little bit better. smart contract risk is when you put your money with a another product or protocol. And it’s at risk of being hacked whilst and we we have hacked and stolen I should say. So that’s our first product and stable coin de peg as well in the crypto there are multiple stable coins, these tend to be coins that are linked back to the US dollar or the euro or the yen or the pound, whatever it may be. But it can be there is an occasion where those two prices disconnect from each other. And when that disconnection has happened, if you are holding that, that stable coin, you are the one who loses out and most famously, most recently as well, the UST coin depegged. In fact, just this week, I think we saw AUSD depeg as well. So the these are not uncommon occurrences, and you need to protect yourself against them. Anyhow. So I think that sort of does the explanation to that, to that help, Rob?
Rob – Amulet
Yeah, absolutely. And I’ll go on to I’ll go on to the next question, which will be man to answer. Which content do you miss? From the community? For example, tweets of infographics, I actually get this question a lot in DMS from a lot of you guys. It’s a difficult one to answer because you guys are really on top of it. Like every time I tweet something from our side, or create some content from our side, you guys already translating it, creating your own versions promoting it. So it’s really difficult for me to actually answer what’s missing because you’re providing you’re exceeding expectations already with the stuff that you’re doing. If there’s something specific like I thought I’d prefer to use you guys rather than our designer, I will with regards to say that 2000 followers thing I will look at sending it to you if there’s anything specific that I feel you guys could do better. I’ll always bring it to you but a lot of the stuff that’s in the memes community art, the stuff I see on Twitter every single day it fills in gaps that don’t even exist so that’s the best way I meet people as well today got to find out because of this type of content that we put actually travels every day in a hot air balloon. So
Rupert – Amulet
I can’t remember who did that video, but I loved it this morning. So thank you for the the the Hotep lead. Well, well, if you can’t help Rob, we can certainly help me by all means follow and retweet everything that I say on Twitter that that certainly helps.
Rob – Amulet
Yeah, absolutely. I mean, to be fair, you’re very likeable and tweetable you will say it’s one of the few accounts that Amulet does always like and retweet.
Rupert – Amulet
Oh, thanks. Thank you appreciate that.
Rob – Amulet
Someone with some people think it’s because you project lead, but the truth is, and is the content is just top notch.
Rupert – Amulet
I always know when you don’t retweet it. So yes.
Rob – Amulet
Awesome. So going on to the next one before we’ve got we’ve kind of covered walls we’ve covered direction of development, I’d say we’ve covered testing that we’ve covered. And so I think demand Joe’s question that he asked about 10 minutes ago it’s also I I’ve not I’ve I can give you a little bit of a story but I’ve not lost money. So the question is tell us an example from your life. And I think we could all meet you and Shin could all do this but I know you’ve definitely got the story route, but it’s more significant. Tell us an example from your life when you lost money in a crypto and how it could be if that was an amulet set if amulet existed what what I guess the question is, how would that have changed anything from when we lost? Now my mind isn’t as easy as that. I actually when I look back, I worked for companies now within Web3 in 2017. In 2018, when I look back now, I did lose out quite a bit because I was invested within the business. And when I didn’t, both of these would never have a lot. I’ve always been quite stringent and careful and very risk averse when it comes to the market in general, but I have worked within two companies that if I was to look back at the time, I was really into them. If I was to look back, there was some things that actually lost me money because they didn’t didn’t pay what was right. And that product didn’t have substance. And so that was actually one was within the sport of crypto within sports. And one was stripped out within FinTech, but they checked completely changed their white paper to what it should have been. And when I look back, I lost money because I would have them but I did believe in the products, but they both moved away. And as a result, they lost me money. And it put me off the industry for quite a while. So the reason I wanted to tell that story was obviously I’m here now back in the industry, working for Amulet being a face for Amulet. And one of the reasons is because I had those previous experiences where I lost money working for two dodgy projects, I would only go back into this industry, if I could see there was a real value within the product, there’s a real value within the solution. And that the solution could actually bring mass adoption to the general public and to everyday people. And for me, a type of protection was was one of the few products that are out there within the real world that could be transferred into web three, that could actually be the catalyst to true adoption, and not just adoption, I see having a form of cover, we’ll have people that don’t even know more than just Bitcoin as a name, that will enter this industry because they they they will, we will we will make it a safer place. And we will protect it. And that’s why I back it within this industry. So although I didn’t actually have the situation where I lost money from, say a trading perspective, Amulets helped me have faith back within the industry to be working firsthand within it again. I don’t if Rupert, you want to tell your story?
Rupert – Amulet
Yeah, absolutely. So I look I’ve been hit quite a few times over the years, on all sorts of different reasons. So going back to the 2017 era, I went into a number of different ICOs that were rug pulled on me, so a couple cover would be would be extremely interesting to have around that sort of stuff. And would have of course protected me at that time. I’ve most recently, I had all of my NFT stolen on Solana because I succumb to a scam whereby it was a new minting protocol that was set up and it suggested that I would get a limited edition board ape and stepping collectible and because I was expecting that to come out anyway, and I was part of both these communities. And I checked the website and it looked legit and the address looked legit at a glance but of course it wasn’t really and then I hit the men button and watched all my NFT’s just slowly go out of my wallet Yeah, that I would have loved to have had some NFT cover which is a product that we want to bring out in the future to cover it was stupid decision for by Yeah, by all means but equally you know I’m a big boy I know exactly how the system works. And I should have done more due diligence and more checking. But so that was out and then I suppose most recently and more flexibly to a product that we are looking to launch I had a little bit of capital in UST at the time that it started to depeg and if any of those Eagle Eye people were listening to me on Twitter spaces back then you’ll notice that I actually made a bet I thought that ust would repeg just because I thought it was too big to fail to be honest but sadly I was not to be the case and then I lost a I chunk of money no I massively sizable chunk of money but a chunk in that as well. So yeah, me look would have really been very helpful to me at that stage and having a depeg cover
Rob – Amulet
Cool and Shin did anything ever happen to you?
Shin – Amulet
Not exactly, maybe I lost my bitcoin wallet While I did some mining in the in the early 2010s at time I didn’t expect Bitcoin to take off so mined it for a few months and that I was like oh gosh, I spent one whole month and mined only one Bitcoin.
Rupert – Amulet
if only
Rob – Amulet
What about you Pinto Have you had any negative stories?
Martin/Pinto – Amulet
Quite a similar story to, to Rupert with, with the UST, which kind of, as we all know, been impacted. And the second one, it was farming my UST and SOL on one of the farms, the farmers had a really, really big team behind. I mean, like, I think it was Serum and Raydium supporting it saying, Yeah, this is this is this is the platform that we support and then suddenly disappeared, then, you know, knowing knowing where you can actually put some money to work for you on some proper farm is something, something really strong what I think I’m looking to help with. Awesome.
Rob – Amulet
And yeah, so those are all the questions as always, even though very rarely happens if anyone wants to say anything on the voice chat. Now is your opportunity to unmute yourself. If you’ve got any questions you want to ask him voice and don’t fit in. So, another record attendance, we’ve gone over yet again, which is always a good thing. Because that’s what exactly what we want. So that’s positive. Yeah, as usual, for my end, I will recap and transcript and do everything that gets done so it can go into a blog post tomorrow. I’ve got nothing else to add. I don’t know if any of you 3 do?
Rupert – Amulet
Nope, nothing from my side. Just thanks very much for for coming and supporting us again, and keeps putting in the community. We will all be rewarded. Because of that. Thank you very much.
Shin – Amulet
Awesome.
Rob – Amulet
Thank you very much, everyone.
Shin – Amulet
Bye