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{"id":1794,"date":"2023-07-13T11:24:28","date_gmt":"2023-07-13T11:24:28","guid":{"rendered":"https:\/\/ap-wa-blog-admin-2.azurewebsites.net\/?p=1794"},"modified":"2023-10-24T08:08:37","modified_gmt":"2023-10-24T08:08:37","slug":"introducing-tnt-vaults-amulets-simplified-marketplace-for-risk-trading","status":"publish","type":"post","link":"https:\/\/amulet.org\/blog\/introducing-tnt-vaults-amulets-simplified-marketplace-for-risk-trading\/","title":{"rendered":"Introducing TNT Vaults: Amulet’s Simplified Marketplace for Risk Trading"},"content":{"rendered":"\n
Amulet Protocol<\/a> launched on the MainNet at the end of September 2022 with our first product: smart contract vulnerability cover. Despite challenging market conditions, we have achieved significant milestones, including selling over 2000 web3 covers and protecting over $550k in DeFi assets across 14 Solana-based protocols. <\/p>\n\n\n\n Today, we are excited to announce another significant step towards our goals: launching our new product \u2013 TNT Vaults. We have been working diligently behind the scenes to ensure that Vaults is market-ready, and we are confident that it will be well-received by the AmuNation, as there have been previous requests for a similar product. <\/p>\n\n\n\n Introducing Vaults:<\/strong> <\/p>\n\n\n\n Amulet\u2019s \u201cTNT\u201d (Trigger-No-Trigger) Vaults offer a simplified marketplace for risk trading, providing users with a two-sided market that caters for users willing to take the risk and users who have the intention to hedge the risk. It is an RMM (Risk Market Making) solution where users can price the risk of cover products such as for depegging events. <\/p>\n\n\n\n Users can utilise Vaults in two ways: <\/p>\n\n\n\n Purchase: <\/strong>Users can purchase depeg cover and receive a pay-out\/compensation in the event of a trigger (e.g. USDC\/T depegs from $1) <\/p>\n\n\n\n Underwrite: <\/strong>Users can stake capital into our vaults and take the risk in the event of a trigger (e.g. USDC\/T depegs from $1). <\/p>\n\n\n\n Prices are negotiated between payments and underwriting capital deposited into separate vaults which are locked in for the duration of each cover. Vaults are then slammed shut and funds would be released when either a depeg cover expires or a depegging event is triggered. <\/p>\n\n\n\n If a depeg event occurs, Purchasers will be paid out their covered losses. If the cover expires without a trigger, Underwriters will be paid their contributions. <\/p>\n\n\n\n Vaults have launched and are available to start providing the capacity (underwrite) or purchasing depeg cover (purchase). <\/p>\n\n\n\n We\u2019re initially launching with depeg cover for 2 stablecoins: <\/p>\n\n\n\n USDC: <\/strong>Circle\u2019s stablecoin pegged to the US Dollar available on Solana <\/p>\n\n\n\n USDT: <\/strong>Tether’s stablecoin pegged to the US Dollar available on Solana<\/p>\n\n\n\n To understand the terms and conditions of our depeg cover, please refer to this document: https:\/\/docs.amulet.org\/documentation\/cover-products\/depeg-cover\/depeg-cover-wording<\/mark><\/strong><\/p>\n\n\n\n How secure are Amulet\u2019s Vaults?<\/strong> <\/p>\n\n\n\n You may have noticed our recent partnership announcement with FYEO<\/a><\/strong>. We have been working closely with them to promote their anti-phishing extension as we share the common goal of making web3 a safer place and strengthening security for the entire industry. <\/p>\n\n\n\n FYEO has conducted a thorough audit of our Vaults to ensure they are market-ready. You can find our successful audit report here<\/mark><\/strong><\/a>. <\/p>\n\n\n\n This means that our TNT Vaults and depeg cover are available today from: app.amulet.org <\/a><\/strong><\/p>\n\n\n\n What to do next?<\/strong> <\/p>\n\n\n\n We\u2019ve created a simple user guide with simple graphics which can be found here: https:\/\/help.amulet.org\/en\/articles\/8060605-user-guide-tnt-vaults and https:\/\/docs.amulet.org\/documentation\/stake-and-underwrite\/tnt-vaults. <\/mark><\/a><\/strong><\/p>\n\n\n\n Understand the terms and conditions and when an event is triggered here: https:\/\/docs.amulet.org\/documentation\/cover-products\/depeg-cover\/depeg-cover-wording<\/mark><\/strong><\/a><\/p>\n\n\n\n Start purchasing depeg cover or underwrite here: https:\/\/app.amulet.org\/#\/vault\/trade<\/mark><\/a><\/strong><\/p>\n\n\n\n
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