We took part in our bi-weekly AmuNation AMA this week (25th April) to answer some burning questions from our incredible community. This was an online event through Discord and was attended by 80+ members.
We issued POAPs to those attending and we discussed:
- Solana Badges replacing POAPs
- Marketing activity with SolarPlex coming
- NFT Cover and our next product
- Ambassador Program update
- Listing process for Marinade and other protocols
- What happens if Amulet was hacked
- Future plans for coming weeks and months
The audio and transcript is here for your reference.
Audio:
Transcript:
Rupert – Amulet
Hey, guys. Sorry about that I lost track of time I was heading a document.
Rob – Amulet
No worries, I was just gonna get straight into it. I’ve got some news to start with, which I’ll reveal. And then we’ve got quite a few good questions that should be evil evenly split between the three of us. The news is today’s POAPs will be the last POAPs that you get because it won’t be POAPs going forward. We were always looking for a solution to get a POAP that’s going to be on Solana, so nothing’s going to change for the reward systems or anything like that. But this will be the last time you’ll be issued a badge from the Etherium chain as going forward from in two weeks time. They’re going to be Solana badges that will be given out, we might still refer to them as POAPs. But it’s gonna be one purely on chain on Solana, I managed to sort that out, today, about two hours ago. Awesome.
Rupert – Amulet
It was one of those real kind of sucks that we had to use the ones on Etherium. But it’s it’s good. Good to have we have something that we can throw out on the Solana chain. That’s awesome.
Rob – Amulet
Absolutely. And on that basis as well. We are still waiting on the details for something else that’s going to be announced because obviously we are built on Solana, everyone – Well done for helping us get to third on the leaderboard in the recent grizzlython from solar plex, which is basically product hunt for Solana. We’ve got some really exciting on chain stuff through them soon, that includes marketing activity basically with them, as well as some education and learning that’s going to be announced in the next couple of weeks. There’s another update there for my end, I’d give you all because I know everyone’s quite keen and they’re all valid in the salon and the markets getting a bit there. So we’ve got lots of activity planned there. And yeah, then I’ll go on to certain questions that we have. I’m not gonna ask them in the way that new mercs written them because they are very long winded, but I’ve done a little TLDR type of thing. And I think the first one is interest, basically, I think in general, the community was really impressed with the marinade finance listing, and of course, the lido one, quite recently as well. So the question was whether we actually had a in real life meeting with Marinade as a team. And I’ll let you talk a little bit about that. But basically, just to give a bit of a background, when it comes to listings, there is obviously a process that we go through and that process involves a risk assessment, and it involves certain different things. So we obviously being on Solana, we want the biggest names on Solana, so that’s why it’s exciting that marinade and lido and J pool and these ones and drift, the four that have announced most recently have given such good vibes within the whole community. I didn’t know myself that wherever you’d ever met Marinade in person, they obviously didn’t know wherever you could definitely.
Rupert – Amulet
I have met the chefs. Yes, I have they come to the events and they all were chef hats with marinade written on them. And so yes,
Martin/Pinto – Amulet
I have as well actually yeah.
Rupert – Amulet
But the yeah, there were at Solana breakpoint but it’s interesting with with marinade they’re they’re a they really are like a true collective. There is best of my knowledge, no real like lead on the marinade project. They do work very much more doubt orientated. And, and yeah, so we’ve met quite a few of them now. And yeah, we got a good relationship with them. Yeah, there’s, there is no one Nadir Mr. Nadir.
Rob – Amulet
That’s great to know. And great. Just to add that to it as well. The second question, which in February we’ll go straight back to you because I don’t know how much I’m allowed to reveal here. But it’s been asked twice. It’s been asked by numeric and it gets asked again a bit later. And I think it’s really good. It’s a really good topic and it’s a really good question to bring up. But what would happen if amulet got hacked, it got hacked for ourselves, and do we have Do we have any contingencies?
Rupert – Amulet
We do. So what would happen if Amulet got hacked themselves in the same way is if any other smart contract got hacked? The the obviously the capital would be drained and well potentially drained? Or some of it would be all we would find it. So what do we got in terms of contingencies in place that well, line one is the fact that we have great audits done by great people. So as you know, Shin, and the a lot of the engineering team came from IBM blockchain labs. And they were instrumental in in designing a lot of the blockchain frameworks out there. So they are the first line of defence in terms of designing our smart contracts. So they’re nice and secure, we then get those audited. So you can see that we’ve got our audits done by Kudelski. And we’re actually about to undertake another one soon with the release of our next product as well to be quite exciting. But in short all smart contracts are audited before any client funds. Go anywhere near that. And then actually, you can now get take out smart contract risk insurance on on Amulet. If so, if you go over to the InsurAce protocol, which is on a Ethereum, I’m sorry, because we are the only insurance protocol on on Solana, you can search for Amulet and you can take out an insurance policy against anything you have staked inside amulet. But it will be it will be a eath or I think USDC based insurance policy, there’s quite a lot of capacity over there. Should you want to take out insurance policy against that. Personally, I’m pretty confident about the security of our own contracts, or not concerned about them, why am I not concerned about them? Leaving my team and I believe in in the steps that we’ve taken ahead of that, you’ll note that our code is actually not open source. And that’s one of the reasons why we we don’t open source our code is to reduce down the potential entry point into potential ways that people can identify ways of hacking into the smart contracts. So that’s, that’s that’s our that’s our basic premise on all of this. Yeah, I don’t know if there’s anything else I can say.
Rob – Amulet
I think that cleared up, I just wasn’t sure whether to mention that you can buy the cover there. So I’m glad you were able to that for me. So now, if people ask me, now we can because
Rupert – Amulet
I don’t want to advertise it too much to be honest, only for the fact that I think it’s a bit of a pain in the ass process. Like you have to do it on Aetherium. And, you know, we would love to have our own better, more secure process. And we are working on other things in the future to actually take out a policy to cover all of you guys. But that’s not in place just yet. And so right now, that’s what the option is.
Rob – Amulet
And obviously talking about Metaverse and Solana and all those type of things, obviously, when we came up with the idea when we announced our projects just over a year ago, we obviously mentioned a lot about in the future. Obviously, this was before we had the two major crisises that we were talking about in the future, we’re obviously looking at NFT cover gamify cover. So numerok has given a load of actually incredible research from an NFT holder perspective, which I’ll forward over to Jimmy, as product will be looking into all that stuff already. It was just the the question around it really is is I know you mentioned before about a product. So that happened, this might be a good time to mention what we can there. But do we know of other people that are looking at the NFT cover the the metaverse cover and along with that, have we worked out any of the fundamentals with regards to an NFT cover? Or is that going to be the next product obviously I know it’s I know the answer is not yes.
Rupert – Amulet
I can say with quite some confidence that the next product is the one that the you guys the community have asked for the most and the loudest. But interestingly, it’s not enough to cover it is is another type of product and it’s gonna be really exciting. We’re doing it in the we are the first insurance protocol to do it in the way that we’re doing it. And yeah, we are We’re not too far away from being launched. I don’t know the exact dates around that. Rob, I don’t think you’ve got them yet either. But hopefully within a month, age is the plan. And so today, have we done a bunch of research into an Etsy cover and designing a product for that? Yes, we have. It’s not easy. If I’m being brutally honest. Jimmy is the better one to talk to on this, that and, and that’s that primarily comes down to the fact that biggest issue with NFT’s is fraud and fraud happens when you are, you know, like I’ve said before, in these sessions, you know, I lost all my NFT’s receive lost, I know you’ve lost yours. When you click on a link that you think is safe, it’s not safe, use sign, a wallet, transaction, and they drain your wallet will have in NFTS or capital as well. My case it was just my NFT’s. But the the capital, you lost the cash as well. So yeah, I’m it. How do you say that? That is? That’s a hack, because what we see on chain is that this is the you’ve agreed to a transfer of assets from one wallet to another. And so it’s a really, really kind of thorny subject. Yes, you were defrauded. Yes, you were lied to, you signed the contract. And that is the that’s the fundamental here, you know, if it was, if it were up in a court of law, the court would say, well, you signed the contract. So you should have read the contract. And, and that’s one thing that we don’t do when we are looking at transactions, like it’s very complicated looking at a wallet and looking at the, you know, what the transaction information is saying, and if you don’t understand that, then it is you can fall foul of these things, which I have. And Rob has, and many others have to. So our product around NFTS isn’t. When t is anytime soon, I think it’s if we do it, I suspect we’re going to be doing it towards q4 this year. And it is quite an embellished build out it’s it’s quite a big product from our side of things. Because it’s not just straight cover vanity, you have to hold your NFT in a specific way, in order for us to cover it. And that’s the basic principle.
Rob – Amulet
I think it’s probably a good time here to mention that. What what we covered in our call meeting this week is with regards to dates and stuff we are I am looking, we’ve got some exciting stuff coming in the next two weeks. And then from there, we’re looking at updating a road map and to give you all updated versions as to where they’re at and what things are coming when. But we’re just going to just give us another week or two for that because we’ve got exciting things to release before that and to take off that roadmap. So that’s coming. So I think that can also help answer those questions. And I think I think you hit the nail on the head there really to be honest, because that that was what I think the real interest from the NFT cover perspective from that particular question is because obviously we’ve got price fluctuation. It’s so hard to say. So there was just obviously it’s intriguing people. So I think I think what you’ve said is spot on. And the next question that goes into we’re going to let Martin speak a little bit. People People want to know, obviously, we finished our ambassador, applications finished on Friday when you were in Jordan. And obviously people want to know how many people applies. I know we said we said about two weeks, we need to review it. We did that announcement. Was it yesterday. I keep thinking today’s Wednesday. So it would have been yesterday Monday. Could you give a bit of information about how many people that apply? How many ambassadors you think will come from it? I know you might not know for sure but approximate. And what your first initial form your first initial glance is. Just give a little bit of an update there about how excited you are about the level of applications that came through as well.
Martin/Pinto – Amulet
That it’s actually a really good question. We we got more than 300 300 applications, which been filled out correctly and went through through initial checks, which is a really really large number as I’ve been working on few different projects in the past and application was barely above 50 Then having 300 is a very large number which me now is to read them carefully to make sure that And we review every single of those applications. And it makes sure then we’ll be very clear with the with the feedback as well, because I’m pretty sure loads of you guys. If you get the role, if you don’t get the role, also ask for the feedback, then that is something what, as per our announcement, I will spend the next two weeks and after that, obviously vary depend on the quality of the applications we were looking for. Let’s, the number between 10 to 15. Ambassadors vary depend on obviously, of the of the candidates. But more of the details will be shared. We’ll be sure shortly after, after we review, review the applications. And also we contact you directly just you have a very, very brief conversation how you seeing yourself as ambassador, what we deliver to you from from our end just to make sure that before we make that final decision, we also have the conversation with the with the applicants, then yeah, I’m really looking forward for that it was a bit of longer process just to make sure we’ll build something what will be a very beneficial for our project, because that is the key of Ambassador but also very rewarding and interesting for for our ambassadors, then hopefully we build the process which deliver those two key stones which we had.
Rob – Amulet
Awesome. And just to say that as well, that obviously Martin is out of community, they won’t just be him obviously doing it all by himself. He will obviously have the support from myself and other team members, when that’s needed and will come every day. I mainly myself as I probably work the faces of Martin every day, we think I’m getting the text from someone different, it tends just to be from you, Martin.
Martin/Pinto – Amulet
We want to became as transparent as possible, obviously making sure we also keep the personal data as safe as well, then, after my review will obviously pass this to our core team to make sure that they will make a final decision just to show to us. The process was not our favourites. It was purely based on on the criteria which we have for that role.
Rob – Amulet
Awesome. Thanks for Thanks for clearing that up. And the final question numero Cass was again about our own NFT’s, the matter bears, and about whenever we were looking at increasing the supply, what would happen if we do increase the supply? No need for really to talk about that. Because we’ve got we’ve got a lot and something’s coming that me and Marcin are working on together. That will be announced before the next AMA. So it will probably be next early next week. And so we will be looking at ways that everyone’s starting to get their drop, and also is looking at a new campaign to reward those people as we head towards a stake in community feel. So there’s no need to talk about what happens if you’ve run out of metabolic because it’s still got loads. And so I will talk about that if if and that advice is provided now, we’re actually looking at more ways to incentivize you guys into to give to to make the metal bears the biggest NFT army out there. I’ve got a suggestion here. Moving on, I think it’s quite a decent idea. We’re just going to work out a way to do it. Obviously, we have ama questions as a channel open, and we answer the questions in the AMA. And then it’s just the AMA recaps that we that you can kind of use as a reference, the suggestion, I think it’s what it actually means is rather we could have a channel on our Discord that can ask these type of questions, and then we can just meal Martin can just answer them. In the channel and this day, there have been that’s not a bad idea. We haven’t previously done it due to the manpower. But I mean, our will me and my team will work on that. And we’ll think of about solution. We also don’t want to risk not having any questions available for these for these ones. So we’ll we’ll look at the best way to do that. That’s a great suggestion. So we appreciate it.
Martin/Pinto – Amulet
Now 100 100%. And as we mentioned on our previous amas, we are always one of us. It’s always online on on the general channel, then if you have any questions feel free to ask if we can answer or if we can at least give our a part of the information. We are always there to do it.
Rob – Amulet
Awesome. Going back to you, Martin to do a contrast questions. The one of them, I will answer myself to say it’s pending. So the system of rewards that will what will that reward system look like for the ambassadors that will come that’s part of the process. So we’ll reveal that we’ll be open and transparent about that. So we’ll reveal that near that time we’re still working things out. And that’s the same for the first question. So I don’t know how much you want to answer about this, Martin. But I mainly am asking it because there’s a specific part of the question isn’t, which we should answer? So the question is when the bounty programme ends, respectively, well, that sees the accrue as a reward for points to it. Do we plan to continue to hold contests in this code after that? And Will there still be rewards? So it was really that second question, I think we should clarify that things like that changing,
Martin/Pinto – Amulet
we are working on a very significant change on the multi levels of of rewards, just to make sure we’ll be able to, to offer rewards for different activities as well, then, I can’t give more about details yet. But I would say May will be very exciting time for all of those information regard to our rewards, our changes our ammunition as well, then, lots lots to do in May.
Rob – Amulet
Awesome, brilliant. And the next question as well, we’ve kind of covered so I’ll just say it and briefly go back to what we said, which is just about, are we looking at new types of products, basically, I’ll be just going to continue a smart contract vulnerability. But as Draper mentioned, we’ve got something in the pipeline that people in the community have been asking him for. And that will get announced in a matter of weeks rather than months. So pending, it will come out very shortly. And this code will always be the first place where you find that out. And the final question before we open it up to the audience was already kind of dealt with him. So someone did have an issue with roles this morning, to taken away, or laugh, tried to help and I can see earlier about an hour ago, Martin Olaf, and everyone and Mason have all been helping. So if you do have issues like that will, such as wherever my combination beginner starts when XSplit rolls gone. Just let one of the team now and we’ll work out why. Where it’s gone, like we’d managed to do see see general chat earlier. If you if you want to understand more. So yeah, so what I’ll do now, because those were the pre submitted questions, and they we’ve been quite lucky the last couple of times you’ve been on there. See if anyone from the audience would like to come up on stage and ask a question. Definitely, we’re going to be this look at this time, they’re
Rupert – Amulet
not not this time
Rob – Amulet
But another thing I’m gonna say that before we close off is a huge thank you to everyone in this community who are helping build the Instagram and link three socials that we’ve launched recently, I can see the ins and outs, you know, I can see the 1000 happening in the next month for Instagram, which is really exciting. And I just want to thank you all for getting them at a fast pace, just as you didn’t have ammunition and literally everything we’ve ever launched remorse of like that coming and if you feel we should be elsewhere. So length three, for example, pixel, one of our community members who’s been with us for quite a long, long time. He’s been on it me he’s, I don’t know if he’s in this chat. But he’s been on it me for a long time to set at length today. I was always gonna link it with Instagram, Instagram, obviously, it’s a smaller growth. But we were excited to see what’s going on so far. I mean, it’s been quite impressive for the week, I think it’s over 300 followers, but people are really liking commenting as wanted. And so that will be a three times a week post on them maybe not four or five times a week. So Instagram will be every other day is the way I look at it. And I’m a bit of a geek with Instagram as well. So it’s there’ll be a colour theme attached to the feedbooks. My web to marketing side will come out. But yeah, that’s pretty much everything from me. I’ll be using revvgg, today to distribute the poaps. So we’ll see how that works. But I made sure that everyone’s little get them anything.
Martin/Pinto – Amulet
I think we cover most of it or all of it. And we’ll try to share more news in announcements in the next next few few few weeks just to make sure that you guys are up to date with with all of our plans for for me
Rupert – Amulet
now oh good for me. Thank you very much for joining this week and that we’ll see in a couple
Martin/Pinto – Amulet
Awesome thanks very much everyone. Cheers, guys. Bye