This week, Rupert, Shin, Rob and Martin took to the AmuNation AMA Stage to answer questions from our community.
With plenty of questions and an audience of 80+, we were able to provide updates on product, marketing, tech, TVL and so much more.
We’ve created this recap blog for your reference. Below you can listen to the audio and read through the transcript.
If you have any further questions, we’re always available via Discord: discord.gg/AmuletProtocol
Audio:
Transcript:
Rob – Amulet
Great. Okay, so because we got a lot of questions, I prepared it in sections today. So to make sure everyone’s question has been able to get answered. Because there’s a lot of people, there’s cross questions. And I’m glad that there’s three of you today, because the last ama was more of a Rob monologue. So at least they’ll be able to hear other people’s voices today, so Yeah, awesome. You get and the room is just filling up. So that’s, that’s a good start. Cool, so because I’ve done it into sections, the person is just, it’s gonna go to you Ru, but it’s the right question to start. And I’ve deliberately kept it the way it was phrased because it was written beautifully. It’s “how did we come up with such an innovative and ingenious idea as risk protection in web3?”
Rupert – Amulet
Well, I mean, it’s very polite of you guys to associate it with us entirely. In short, I don’t think we can take the the crown for that when we certainly weren’t the first people to do you know, risk protection in web three. There were others ahead of us, I think. And I might be wrong with this. I think it was Nexus mutual, who originally started to do protection for for for web there. And when I say went through, I mean, like the crypto universe in general Nexus have now moved towards being a reinsuring model rather than doing direct contracts although they still have them on their dapp. But the Yeah, I think, I think really it was it was kind of them that did it what what we’ve done now obviously, that’s, that’s unique to us. And, and totally different from them is the way in which we utilise proof of stake to generate a yield and use that yield to underwrite on on policy. So there’s so much more protection involved with something like Nexus, you stick your money in. And and it’s gone. Basically, that’s like, it’s very difficult, as far as I understand it, certainly with a lot of capital to undertake from Nexus, which is why you see them having such a big TVL growing, growing, growing, but they were the first and they weren’t that we were the the kind of the biggest, you look at other protocols out there like Unsplashed, like it’s a lot more easier to to undertake, but then they utilise your collateral to pay out the policies, whereas you know, we would we would do that in the very worst case scenarios when you know, all the protocols get out hacked, but for the most part, you know, we affect the yield with with our payouts, not the not the principal that’s injected. I kind of went off track a little bit. I’m sorry, I’m sorry to say we didn’t create insurance, but we were certainly going to create the new market for it in the world.
Rob – Amulet
I just I just love the way it was phrased. I had to ask it that way. I was thinking, if they’re going to big us up that much, I’ve got to ask it that way. The next part, I’ll cover myself. It’s just to do a couple of people asked with regards to whether there are any partnerships that are going to be announced anytime soon. Now, we are obviously always in discussions but we are a web3 cover protocol, So we need to think about security. So there’s sometimes a bit of wait as we need to be sure they pass certain security reviews. We work with CER Live to rate their security scoring and if they don’t score over a certain level. We can’t necessarily , well it could be delayed as to when we can list them. So we have got partnerships lined up. We’re always working with CER live to make sure as soon as they pass those regulatory stuff we can move them on to the next stage, but you guys will always be the first ones to, to know. We always, I always announce it first on Discord before it goes on to any other platform. So there are obviously we are always discussions, we’ll try and push more going forward as well. And yeah, that’s a lot of stuff we’re working on. And as mentioned in the last AMA, and on this chat quite a few times, we have got stuff with existing partners that me and Martin have got lined up, hopefully in the next week or so that we’ll be able to announce. So I thought I’d cover that off myself before I go on to the next section, which is the questions that were asked about increasing the TVL and investment. So it goes back to you Ru. But I think the best one is the way Pavel asked it, which is about our work, “is there any work being done to increase the TVL at the moment?”
Rupert – Amulet
So you guys wouldn’t have seen because it didn’t actually impact the the TVL on one of our investors really staked their initial amount of sold last week, which increased the capacity of I think was Orca, and about policies that we’ve got on the on the protocol there. And now the reason why you guys wouldn’t have seen, it didn’t seem like a big number increase, although we saw on the back end is because when you withdrawal, you unit while you guys made out now that you can do an instant withdrawal, or you can do a delayed withdrawal. And if you do a delayed withdrawal, and then don’t do the final step of actually withdrawing it into your wallet, it stays within inside our TVL figure, but it’s not allocated to policies. So you actually, what happened there is that they went to go and do a delayed withdrawal, they didn’t actually complete the final step. And therefore, when they restate it last week, the it gave us a whole bunch bunch more capacity to utilise across the across the policies. But actually, it didn’t make a big difference to the to the TVL. Figure. So you know, it’s a good and a bad thing, we were able to increase the capacity and grow the revenue back to the to the protocol. And of course, growing the revenue into the protocol means that the yield be higher on the previous stage sharing it with aUWT token. But you wouldn’t have seen a big difference on that. So what are we doing in terms of greying our TVL out? Well, there’s a number of different things that are underway. One, the most exciting, there’s a bit I can’t talk about it, because I don’t want to count my chickens before it’s hedged. But be as and when it comes off. And hopefully, fingers crossed and touching lots of word and hope you guys are crossing your fingers for us as well. We are expecting a huge deployment of capital into the protocol in the next couple of weeks. Hopefully before the next AMA, if not, there’ll be just after that. And yeah, I’m crossing all fingers and toes because it will really push it right up the defy llama list to about number three, I think overnight. So that kind of give you a bit of an indication of the sort of TVL growth that I’m expecting from this one injection. And then beyond that, we’re waiting for that one to come in. And we’ve got a whole bunch of other investors kind of lined up to come in behind because it provides a huge amount of trusting and growth. Now, if that doesn’t happen, that’s okay. Because we’ve also got a number of different strategies that working with you guys and growing that out. So I don’t want to get confused in the terminology of what we’re doing. Because I know there’s like the brand ambassador programme that we’re doing. I’m not sure if we’ve talked about loyalty, I’m just going to drop that one there for a second. But in shorts, there is a number of different ways that you will be able to help us rather TVL and be rewarded as such coming up in in the future, but we’re hoping that this all collides together. And we’ve got the big chunks coming in from the larger holders of sell, as well as you guys going out there and being proud to go out there and show that hey, this is a working protocol. We know it’s taking longer than anticipated we didn’t want to be in this position either to only have a limited amount of TVL and being limited on what we can sell but it is the principal thing that we work on every single day and whilst it looks like it’s there’s not much happening on the outside, believe me on the inside there is a huge amount underway. Awesome, thanks
Rob – Amulet
so much for that. The next section I’ll cover because it’s about the roadmap and what’s going on in the next couple of months. At least that quite recently. So I’m gonna send that to you directly. I know you said that. It’s also still pinned on our Twitter. roadmap, because I feel it’s still the most important thing that’s been released this year. So I’ve kept it pinned on the Twitter, I roadmaps there. Everything should stick to those guidelines, me and Shin, and Martin and everyone who worked on that roadmap to make sure that everything that was said was realistic and in the right time. So yeah, I’ll make sure you got it directly there, yourself. And the next section, I like this question is from Eugene. And I will say what I fit for sure the answer is, but if not correct me if I’m wrong. The question was, do we have any KYC plan for the ammunition or for the app? And I would say, plans now, but you never know. The regulator’s may take us, but as of right now, there’s no KYC planned? And I don’t know whoever one of whether maybe general who wants to cover whoever that is something that could be a possibility in the future? I guess not the AmuNation, but I guess for the main net.
Rupert – Amulet
So it was a question about what?
Rob – Amulet
Is KYC, Would KYC ever be implemented into the main net? is the best way to rephrase that.
Rupert – Amulet
Would it ever be implemented into main net? That is a much, much, much more question far beyond just, you know, saying, Oh, we’re going to do or we’re not going to do it, the, we may be in a position where we have to do it. So that that would be that’d be one. And there’s also scenarios where people actually want to add to have it in there. So some of the larger buyers coming in, would want to be able to show that they are buying into a protocol that that has these processes in place. So they can show that they are doing the department things that connect customers. So there is a number of different reasons why we made it. But what we’ve kind of talked about internally is somewhat splitting a protocol a little bit. So potentially, in the future, and there’s not there’s a reason it’s not on the roadmap is because we really haven’t worked this out or have the necessary necessity to do this, right this moment, is to have an A section of amulet. It might even be under a totally different brand. If I’m being honest. Whereby, yeah, you go through a KYC process and, and KYC and AML in order to be part of the protocol, it’s likely that’s going to be there in the staking side of things, and it will be on the policy buying but I don’t know, in short, and that would, that would be one thing that we were thinking about. We are certainly thinking about regulation, we are looking at possible routes for that. And we’ve always been very open and happy to talk to regulators about the protocol. We don’t need to be regulated this the this moment, we’re not doing anything in the regulated world we are selling defy cover in a defy world. And that is not a regulated industry. So we don’t need to have KYC and AML and these other things in place. But regulators and countries are prone to changing their minds and coming on top of people so we will be updated this Yeah, we don’t want that let the protocol die for the necessity of of having KYC involved. But we do want to keep to arm our defi kind of credentials really in and keep this all private as much as possible. I personally from my point of view, I can’t see why on an insurance side of things why you’d ever need to know why somebody yeah that that particular customer for taking out insurance so KYC know your customer, why do I need to know about you? Why do I need to know about you know, the the Capitol you want to cover on on on insurance. I can see totally on the the the staking side of things, why we would want to make sure that we’re not using funds that are clearly being funnelled from nefarious sources. And, you know, we don’t want to be supporting terrorism or exploitation of children or people or, you know, as much as anybody else. Like we just don’t want to be involved in But unfortunately money doesn’t know where it comes from money never knows who it touches. It’s only the individuals that are holding it at the time. So, yeah, this is where we, you know, we could probably see something happening in the future. But yeah, no plans not in the roadmap right now. Got a Well, I think
Rob – Amulet
I’d say I mean, I said, but something that is obviously on our roadmap is the mortar chain, I’ve definitely linked those two questions together and say, is there an update, we can provide the community today as to a preferred next chain? Or when we would be able to tell them about a preferred next chain?
Rupert – Amulet
Can we tell them so that tests that we’ve got going on in the market?
Shin – Amulet
Can you hear me if you try to talk to me? Yeah, definitely. I mean, we have done research on the I mean, the models chain or the Aptos, as well as the suite. So we have been following closely with the foundations as well. So but when it comes down to the detailed implementation that will, eventually there’ll be more like, not just a technical decision, but it’s more of a combination of a business as well as the sentiments from the markets as well. So yeah, so you will be a hard decision to make, but we will make sure that we make the right decision that we move on to the right, check the sources.
Rupert – Amulet
I think we we we did promise something at some stage. Robert, what are we putting in in terms of the roadmap of when that
Rob – Amulet
I think we didn’t put anything in deliberately for that reason.
Rupert – Amulet
So I’m not sure about that. There was something about that in general channel today I’m sure there was a there was a there was a queue you to think of the anybody community raise your hand tell me q2
Rob – Amulet
q2, we’ve got amulet next chain
Rupert – Amulet
So look, the point is that we’re not putting this stuff off we are we’re doing a shed tonne of research in the background and lots of tests from a technical standpoint, but also from the business standpoint and trying to work out what strategically is best for us now we like a lot of the new changes that are coming through. And, you know, it’s really interesting in terms of you know, that the stuff that is happening there. I asked the question this morning actually on the on general about base, I’d love to hear everybody’s opinion on on on base and yeah, what you you worried about Coinbase releasing a chain, you know, that? For me? It would I’d argue that all those users have already gone through KYC and AML. And you know, there’s 110 million of them as well. So for them to then come into the fi space and providing liquidity that can potentially be very exciting. Sorry, should you’re gonna add on to that?
Shin – Amulet
Yeah, so yeah, base will be something new to us. Although it will be all EVM actually, technically is not an obstacle to us. Yeah.
Rupert – Amulet
I know technically you can do anything because I continually challenge you with with all sorts of stuff yeah, we’re very lucky to have that one of the best development teams in the industry but the Yeah, but still you know structurally there are different ways of running things on base right so we’re on EVM in general so with that might be problematic but in short, no, we don’t have an update just yet. We will keep to our time by night we will definitely have something in Qt I’d like to have that sooner rather than later. Probably it for the first time ever I’ve been on, someone wants to ask a question.
Rob – Amulet
They’ve been invited
Rupert – Amulet
Well, stage and welcome to stage. I mean, it’s, it’s great to have a discard profile pic
Rob – Amulet
Well, I’ll move you back to the audience. If you do want to speak. Just we’ll see if you raise your hand again. It could have just been an error. I do. From obviously my screen that he was on his mobile rather than on on the computer. So that could it could have just been a split of button. Okay, well, I’ll move on to we actually covered in the last AMA, and I think actually maybe with neon as well. So I’ll just cover it very quickly. Again, we asked a couple of times whether we’ve got any offline event plans like we did Solana breakpoint, not necessarily we’ve not got anything planned this year, we were not I do think you covered it a bit as well, in the last day that you were in. It’s not something that’s really focusing on unless it was really major. And we felt we had to, it was important for us to be there. But we’re not going to have it as much of a strategy as it was, say last year. It’s they’re quite expensive. You don’t necessarily what you get out of it. But we’ll make sure we get we go to the ones where we should really have a presence. And actually, I guess I could link that into the Great question we had about whether nomadic could go and visit Martin in Krakow, even though Martin now lives in London. But I will change it more as to whether we would be happy to sponsor offline events between people within the different communities. I don’t know if you saw very, but I’m Shane. And Martin, because you are. And I did I released on Sunday, the ammunition global where everyone is. So we’re a lot more global event people are. So there could be opportunities, I guess, for people to get some amulet merch sent to them that we spoke about in the past. I don’t know if you just want to confirm here that we are still happy if they gave us a proposal of something they wanted to do in their local area, we would potentially still be positive. Happy to sponsor it?
Rupert – Amulet
Yeah, absolutely. Always, you know, the Yeah, if you if they if you want to do a little community meet up drinks, whatever. We’re always happy to. To encourage that. But there is a price the prices, you have to send us photos. And, yeah, let us know we will be discussing what gets you know, you’re brought up because, you know, we really want to encourage as much interconnection either out on general earlier as well, if there was anybody in Lisbon, that wants to meet up, I happily meet up with our listening community members, though I doubt there is anybody down this way?
Rob – Amulet
We made a joke about that, because we set up the Portuguese channel over the weekend, I think it was on Saturday, so maybe there’ll be a few people coming from Lisbon soon!
Rupert – Amulet
okay. Well, I will, I’ll go and throw in my worst possible Portuguese internet channel.
Rob – Amulet
Awesome. So the next stage, I think it’s good that we’ve got an exit, because it will be bored of listening to me answer this question. But it’s regarding a little bit about NFT and the current utility. Obviously, we explain it quite a lot. And I’m sick of telling everyone so this time Shin, we know it’s live we know it’s on. But could you just reiterate for those who don’t know what the current utility is, right, NFTs and what you can reveal about any future utility.
Shin – Amulet
Right. So currently, I mean, what we have released the utility for nft is the cover discount, so you enjoy discount when you buy cover. So going into the future. I mean, I believe Rob has already shared a little bit about our future loyalty programme Ambassador programme, so the NFT will play a role there. So basically, we’ll be adding on additional bonus to give you additional bonus points are going to give you like additional rewards if you’re holding the NFT during the periods. So we have been doing lots of homework or not homework but a smaller a lot of work to capture those are actually holding information make sure like people are not gaming with the holding of ft like selling or buying at a critical time but it’s more of measuring the NFT holding quality the entire time so that we will have a bigger, nicer picture of the holding. So that will give the real rewards to all our loyalty holder of our metal bears. So yeah, back to you, Rob.
Rob – Amulet
Yeah, awesome. Great. I was gonna ask the second part of that is I know you’ve you’ve seen a lot of the designs, people want to know do the golden silver well they all have unique designs as well as the bronze that people have seen?
Shin – Amulet
So actually, I mean, the design has been finalised like a couple of months ago. So have been pushing marketing for like releasing this to the community. So marketing so I should be already put On this and yeah, you guys, you know, get to know, um view unveil the like the silver collection or gold collection of NFT soon.
Martin/Pinto – Amulet
We have we have the airdrop plan in the q1, then q1 and finishing the few weeks then you’ll see the upcoming collection. Yeah.
Rob – Amulet
Yeah, we’re heading to you Martin, we haven’t heard much from you. This is your time to shine. I’m going to is all about the ambassador question. Obviously, we’ve got a lot of Ambassador programme questions. I think the best way to start is read it has now been revealed from the daikon draft who makes incredible videos, a lot which have been used on our socials recently that there is a test group going I saw some of the results of that this morning. But would you like to feel how you feel that’s going at the moment with being in charge of the testing there?
Martin/Pinto – Amulet
Yeah, we did create our our our testing group, just to make sure then we will make sure we catch all of the best practice from from Ambassador role to make sure then when we switch this to the wider community, we will use only the best practice we will be fully prepare, how to how to check the content, how to post the content, how to communicate, communicate with ambassadors. So far we running in in last two weeks. With KinGeri being in in charge to help me help me to manage all of the details and outcome look really promising. We have a we have a really big support from from people in the in the areas where before we wasn’t as much visible we have a full traceability. And that is a very good base level for us to start ramping up this for for greater community for more users, for more ambassadors, especially in our our own chain a solution for that as well, then we have a very, very good feedback. And that give us a confidence of scaling this up to the to the wider community.
Rob – Amulet
And also, obviously, we know that there’s going to be changes to the ammunition app, we know that all Ambassador programmes coming and there’s going to be a lot of things. Is there anything that you’ve recant reveal now that is it’s still pretty much wait until me and Rob tell you? Is there anything you feel that in the last couple of weeks that might have been at that since the last day of May that we might not have revealed? I doubt you were in the last day? And is there anything you think some of your side you may not have mentioned about the ambassador programme or loyalty that’s different since you last spoke to the community on an AMA?
Martin/Pinto – Amulet
To be honest, we kind of ramp out or most of the details and most of the solutions are kind of kind of ready to go correct me correct me if I’m wrong Chang but we are very close and we are on track to do at this in q1 and also it will be very connected with your with your calculation of the reward you you row of Ambassador and level of the of the of the ambassador as well as we were planning to introduce that as well. And he will get you a unique number which would you can share with your communities in your in your social media, which which books to reward as well then we planning to give as much opportunity to our ambassadors to to help us to grow but also to get reward for for for your contribution for us.
Rob – Amulet
And a huge thank you to everyone who contributed from Mason, who about what they wanted from the ambassador programme that has been shared with the whole team. And is it work and we’d love to hear what you think we’ve aligned on a few things. Just wait for those announcements. They will be coming q1 is still still here but it’s almost ending so it’s not going to be long left. Back to you there Martin I know the answer to this we thought about this a bit recently. But is it possible to still become a community champion on Discord
Martin/Pinto – Amulet
At the minute we look in which of the community required a more attention than same as I mentioned before if you if you have idea how you can contribute to grow your community how you can support the community just let us know and we can we can have a conversation everything is based on how busy is the community or potentially how how we can grow that community then if you have the idea or if you have if you have the way how you believe you can support that community please let me know and this is open discussion
Rob – Amulet
Absolutely. And that’s why on Saturday when you have Martin the the Nigeria channel came about because the whole point of those language channel is to give people from the those native areas the opportunity to become a champion themselves, grab a little community. And that’s exactly the intention of that. And that’s what it was asked there.
Martin/Pinto – Amulet
I’m fully agree because not everyone feel 100 comfortable with using English and stuff. And we want to make sure that we have the person who can explain everything about our products, about our plants, our, our ideas in your own language to make sure that all of those small details are passed to you in the right way.
Rob – Amulet
And others who laugh wanted us to do it. So it’s a great, it’s a great, it’s a great amulet thing we’ve done since the start, and we’ll continue today. And it’s something I’m gonna go back to you on me because I know we might actually be able to say something this time. Do you have an update on tokenomics?
Rupert – Amulet
Ah, yeah. Repeat question again, was, do we have an update on economics? Yeah, absolutely. Yeah. No, but we do have one coming very soon. We were actually just talking about this yesterday in our team meeting. We wanted to bring up until about two weeks like, but in short, it’s also going to be in combined with the strategies that we’ve got coming up in terms of the sticking points that we are releasing very soon as well. So they are they are both connected. It’s not too difficult to think about. But other than the more you do, the more you’re gonna get airdropped, and that’s essentially it. But the what you do is gonna be very specific to us and, and the actions that you take on the on the protocol, and it’s all would be tracked on chain, and Shin’s be doing a mega job of building this in the background has been a huge build, we’ve been building for like the last three months, Shin, I think. Yeah. About three months so far that we’ve been building this tech in the background. And yeah, it’s a massive, massive update right around the corner. So huge update in terms of tracking actions on chain, huge update in terms of what those actions mean for you, and referrals and potential revenue generating options. And then that also means tokens and economics. And we’ve even been talking about actually doing a TGE, which is exciting and big. We haven’t confirmed anything. I think I’ve said on her many, many times that the market isn’t right, just a second. But actually, it could be right in the not too distant future. So teaching cheat, we will release. And this is why
Martin/Pinto – Amulet
we are waiting with a bit more details with the ambassador programme as everything is connected.
Rob – Amulet
Awesome. So I’m gonna go well, I think we can all answer maybe individually. And it was a great question before, and it was all started off with a bit of a monologue about how you need to make mistakes to develop. But in essence, the question was, are we satisfied with the work that we’ve done? So I’m gonna ask him on an individual basis? And what do we feel should be fixed in the future? So I’ll start because I’ve asked it. From him, I think we’ve done a lot of great things, especially marketing level, I mean, even yesterday, when I’m writing the bi weekly report, it’s always an element of growth, when it comes to I think, for quantity perspective, from a community side of things as well, which I’m sure Martin will agree, we’ve had a great we’ve done a great job at bringing people in, but then we always need to improve them thinking of the quality. So I mean, I probably mistakes and probably did some amas last year that didn’t do the right successes that brought in bad quality. And I think that’s what always needs to work be at the time to be able to get that’s our overall goal is in our TV and protecting everyone, whoever today. We’ve done great on the quantity, but we need to now tweak that a bit further, I wouldn’t say and get that into more quality side of things, but I think I agree. I think mistakes, like they always say don’t know that. A mistake is only when you do the same thing wrong twice. Because if you do the same thing wrong the first time it’s a lesson and you can iterate. And because I’ve always worked in quite a startup Vironment. I iterate all the time, naturally without without time, so I’m used to that. So that I mean it’s a big part of what we do anyway we look at where things go wrong and how we can improve on it. Because I started on the marketing side of things I don’t know whether you want to add your side of things at all Martin
Martin/Pinto – Amulet
Yeah, I’m fully agree what do you what do you say we we are also on the journey together then we also learn what we can we can do better but so far from from from the good thing I believe based on my experience we have at the most committed committed community we are together for more than a year or around the year now, which is a lot of a lot of weeks in the in the blockchain community. Life and we found absolutely amazing people, people who, who start supporting us we passing a past of the responsibilities to them, and people who absolutely support each other, for something that we can do better. Always, always, always a technical side can be better what I mean by that, I know sometimes we we adding the points a little bit later than the expected. But this is something what we’re constantly working is required development. Sometimes it’s taking time. But this is this is the learning curve for at this at this stage for me how we can have those small wins fasters. And if I if we have with delays with something, how we can improve that to make sure it will improve in the week after, then I think I’m us, Rob said, learning from from those from those mistakes, and how we can deliver this better to you guys. Because you are not only community but you are our customers, then we want to make sure then you get our best service from us possible.
Rob – Amulet
I found that’s a good example. Because we did it to eight there. We were when we started, when we saw it wasn’t working the first time around, we started moving to the Wednesday and Friday distribution. And that worked and became more efficient. Obviously, we still have improvements to make. But that’s one of them. I see there’s 100 Again there. And so should we take advantage of it in case but before we move on to Shin or Ru, let’s see if “username” wants to come on. it could have just been a mistake again. It might have been a mistake, the guy would say, Should we move on to you?
Rupert – Amulet
Sure, Are we proud of what we’ve done? Yes, unequivocally. I, I’m extremely proud of the crew of the wild, the entire team, what we’ve built and where we are going, am I proud of my own performance? I’m always extremely critical of by of my of what I do. And to be honest, I’m not I always say that we need to do an awful lot more. But if I take a little bit of a macro racing cache built a team built a product launch into the marketplace and continue to develop on that on the whole Yes, it’s good but we need to do you have my perspective we got to demo with a deep better faster be be the first in all of these marketplaces will be the largest and yeah, that is my in my entire focus and you know, simple things as well like you guys have commented out I’m not in the community enough and I’m not and it’s not good enough. So I’m putting in the time this week to make sure that I’m in here every single day and hopefully continue to do that as we go forward as well. Like I want this community to be the heart and soul of what we’re doing and so that’s why I want to make sure that you have that connection back to me and the rest of the team so and can we can we do better? Yes. But also tell us when we aren’t living up to your standard and we can do better on that side of things.
Rob – Amulet
Also in they’re definitely not scared to tell me and Martin I can tell you
Martin/Pinto – Amulet
I do agree.
Rob – Amulet
I can Shin with you would you like to give your perspective
Shin – Amulet
I mean totally agree was with WordPress. So yeah, we have been proud of what we have built and super grateful for the whole community as well as I mean all the team members which keep building and continuous building and move the products up to now but we are definitely we can do we want to do better and we definitely can do better. Given the current market situation we do put our heads talking about heads down to keep developing new features keep exploring new technology. We are not fulfilling all four we I’ve done and we keep looking to deliver better. So that will be our goal going forward. So, we hope I mean, what we have done has fulfilled or like, as I mean show demonstrates our I mean professionalism. I mean, I mean, building the projects as a team. And we hoped to I mean, the committee, we will keep showing your support and make make make us better.
Rob – Amulet
Thanks. Awesome.. And the next question I’ve got, isn’t it? It’s about you Ru. And I think it came from a conversation. I think it was maybe yesterday. And it was, I think it came, I think it’s come from the video that was made review of the last scene being from Pink, because the question is, Rupert, could you please share your most successful business venture?
Rupert – Amulet
Unequivocally, Amulet, in terms of most successful business venture so far, I mean, like, it’s difficult to meet a particular benchmark, because I’ve been involved in a lot of different companies over the years in different roles. So if you say that, you know, what’s the most successful by the amount you have exited? From then pink was that because I had a really simple so exit from that, that can be a reasonably successful exit from that company. And I was very happy with it, you know, what happened subsequent to be leaving, sadly, you know, the guys who were left to run it into a particularly good job in that company no longer exists, which is really disappointing from my point of view. And yeah, well, the hard work that I put into it, and I know some of the people that actually in our community was a part of that project. So I it does, it does disappoint me that we put in so much effort there and it went kind of downhill. But I had a good exit out of it. So is that the most successful then? Maybe I haven’t exited out of of amulet, but I mean, it’s trading at a substantially higher valuation. And, you know, the, the yard? What about my favourite sayings? Is all lessons cost money, the good ones cost a lot. And yeah, I think all of my lessons I’ve learned in my career to date have been put to good work in, in in ambulate. And, and so it’s, it seems to be certainly on the outside, for me working a lot better it’s doing it is a lot easier to sell this particular product. And I said, I mean, sell that in terms of like selling it to investors, selling it to why community would want to join selling it to, to an actual insurance purchaser like it, it just works, right, that is probably pure product market fit. And what we what we lack in d phi is really volume of users, right, there was only about 500,000 defi unit users worldwide full stop. And that’s probably over egging it, but there’s actually, you know, it might even be a bit lower than that. And then when you look at Solana defy users is like probably like 3% of that 500,000 So, there’s a really small number of people actually operating in this space. But what I like about that is the opportunity to grow like these are the real oh geez, that are in the space, everybody is on this, this, you’re on this call right now. Like you are the OG like you make me feel like Oh God, I don’t know anything about crypto and I’m, like, I’m new here and, you know, whatever, but like, give it a few years, you guys will will know a huge amount more than the next 10 20 30 40 50 million people coming in. And they are the ones who are going to you know, drive up the the value and work on these projects. You know, we’ve seen a few cycles in crypto already. The cycle that I lived through, was 2016 through to now and there are cycles even before then, in 2016 When I came in as a noob I didn’t know which way was up and I really felt like an idiot when I was talking to some of these like Bitcoin OGs that have been in for years beforehand but actually seem to realise that it’s such a young industry overall, that there’s so much growth potential that nobody is kind of a an idiot in this space. I’ve gotten somewhat of a past gap,
Rob – Amulet
maybe maybe reminded me really of like when I first went to for Globatalent in 20 Like the first ever job I had In cryptocurrency at the end of 2016, beginning of 2017. And I was writing these blogs, and I had absolutely no idea about the crypto side of things. But I said, Oh my God, how do people know? But then, sometimes events and I see myself talking and I realise, oh, people aren’t understanding me because I’m one of those older people. So I have, like totally back down again. It all comes swings and roundabouts. We’ve got a question about the future really. We covered it a little bit in the AMA that I did with neon labs on Friday, because they’re in the metal route about the metaverse and you know, gamify is what I talked about. We were moved on to gamify cover and the question is where do we see Amulet within the metaverse? And I know that gamify something you love talking about it I’m gonna put it that way but
Rupert – Amulet
I actually had a call this morning with one of my favourite partners we’ve been working with almost since the start of Amulet we’ve been talking to a game that’s coming and I don’t know if I should say that their partner or anything right now I’ll I’ll put a link to a game that I really like in the in the space later on in general chat and you can assume whether or not that is connected back to us and make your own assumptions. I won’t say anything at all. But anyway, the this partner that we’re working with, we are looking to pet insurance into into their game, this will be the first first I know of insurance. Yeah, decentralised insurance inside of a game. And it’s gonna be really cool. And I’m gonna talk about the actual product and what it does. Yeah, cuz there’s a couple of options for one. But the second thing is it’s a if we do the option that I’m looking to do, it will be the first like real life product on chain in the metaverse is really, really very, very cool. But I think there’s a huge opportunity inside in gaming in particular. Metaverse, probably less so. But it all becomes about loss, right? Where there’s loss, there’s insurance. That’s where we step in. That’s what we are here for. We’re here to cover loss. So if there’s loss in the metaverse, in any which way, can you lose land? Can you lose a building? Can you lose your assets, then yeah, we’re gonna step in and work out a way to cover it in a in the best possible way, without people gaming the system. That’s, that’s, that would be the bad we’re doing when you look at games games have a built in mechanism, right. So if you are able to lose a weapon or damage a ship, or to break something that you have put money into, during this, this game, you should be able to cover that for insurance. And typically, you can’t right now, there is a few exceptions, I think EVE Online, you can buy insurance inside that particular game, but you’re I mean, all you’re doing really is just giving more money to the, to the games creator. For that, you know, it doesn’t cost them anything to replace your ship. And yet you’re covering it with with insurance. So I think that is the the wrong way of doing it. If you have an NFT, which has an asset value to it, and you are able to lose or have that NFT destroyed inside a game that you’re playing, then that has a real value and a real need to be covered. And that’s where we step in. And that’s what we’re doing with this particular partner when we were talking to we are talking to a number of other different games on that side of things. And we were also talking to that the guys who kind of gamify yield farming but that’s a bit of a simpler one for essays really covering off the smart contracts, which is what we already do. So yeah, well there’s last There’s me that
Rob – Amulet
I think you should try and negotiate some skins for the you know, some sort of avatars for the team for the game of ourselves
Rupert – Amulet
It’s really cool this this this particular game but anyway up, I’ll post a game in the post a few games in the in the channel later that I’m quite excited about coming out in web three, and then we’ll take it from there.
Rob – Amulet
Awesome and cool. So that’s pretty much all I’ve got on the list of 50 minutes. I will ask if anyone here wants to raise their hand and just want to ask any questions on stage. I’ll give a couple of seconds, nope Well, we almost had it twice today. Very close this time, but still never close. Okay, I’ve
Rupert – Amulet
Still not had a single question asked while I’ve been onstage You missed out.
Rob – Amulet
Definitely, definitely save it for when you’re not here. I did get some power apps. So that will be I will distribute them straightaway after this call. And if you’ve got any questions always feel free to, to message us. But yeah, thanks very much for another big audience. And thanks, guys,
Martin/Pinto – Amulet
maybe one one last thing. One more thing. From from me. I want to say thank you to Meison, KinGeri, Annae and the community champions. They done absolutely outstanding work, not only last week, when I was on my holidays, but also over the last weeks and months they they contributing contribution was massive to help us to make sure that our ambassador programme is tailored what you guys need as well. Then I just want to highlight it then. This part of the team doing outstanding job and we’re very grateful that you are with us guys.
Rupert – Amulet
And this also reminded me chat. I want to do a big shout out to Eugeney (design champion), I Can See See you in that. You did an amazing job on that deck that I pitched over in Dubai. It was awesome. Thank you very much for your hard work. And I knew you put the extra hours on to that. Yeah, much, much appreciated. I’m not
Rob – Amulet
going to thank Eugene because I have to thank him a single day because I’m nagging him every day for something usually. Okay, awesome. What a nice way to end the AMA and the recap will be available tomorrow. So thanks, everyone. Cheers, guys. Bye.
Rupert – Amulet
Thank you. Bye