Amulet Protocol Cover Defi

What is the cover in defi?

• the user, in exchange for an insurance premium, is trying to protect funds from events that may occur in the decentralized finance ecosystem.

• blockchain technology that allows you to mine

• is an algorithm that allows for secure transactions without intermediaries.

• These are coins that are not of any value

Answer explanation

the user, in exchange for an insurance premium, tries to protect the funds against events that may occur in the decentralized finance ecosystem. For example:

Financial losses from investing in a risky protocol;

A smart contract exploit - malware that finds vulnerabilities in the SC code and withdraws user funds;

bankruptcy of the token issuer or loss of a peg to the Stablecoin dollar;

hacks of exchanges, applications, wallets and protocols;

technical errors in the operation of the blockchain, oracles or bridges.

Most of the risks are related to the software complexity of the DeFi ecosystem. For example, in the second quarter of 2022 alone, about $140 million was withdrawn by hackers through vulnerabilities in smart contracts, according to a Beosin study.

What do decentralized finances cover?

(more correct answers than 1)

• financial losses from investing in a protocol

• Smart contract exploit - malware that finds vulnerabilities in SC code and withdraws user funds

• bankruptcy of the token issuer or loss of the peg to the Stablecoin dollar

• my car

• Hacks of exchanges, applications, wallets and protocols

Answer explanation

Decentralized finance (DeFi) covers a wide range of financial services and products that are built on top of blockchain technology. These services and products include lending, borrowing, trading, insurance, derivatives, and more. DeFi also covers the development of decentralized applications (dApps) that enable users to interact with these services and products. Additionally, DeFi covers the development of protocols and smart contracts that enable the secure and automated execution of financial transactions.

What would you like to cover?

(write your opinion)

Evaluate responses using AI:

OFF

Amulet is created with the goal of simple and reliable cover for everyone on the Web3. Amulet Protocol is a decentralized risk protection protocol ("RPP") created for the Rust-based ecosystem, starting with the ​ (a)  

• Solana blockchain
• cosmos
• polcodot
• sui
• aptos
• poligon
• arbitrum

Amulet is creating the risk protection industry's first protocol-controlled reserve ("PCR") approach, in which Amulet will create reserves and implement a claims structure that includes a unique method

• BSRT

• Maining

• Yield Backed Claim ("YBC")

• UTR

Amulet plans to start by covering smart contract vulnerability, stablcoin depeg risk, custodian risk, and over time expand the spectrum of different types of risk, such as credit protocol default risk, NFT asset risk, price volatility risk.what points the amulet protocol is worth paying attention to for cover?

Evaluate responses using AI:

OFF

did you buy from https://app.amulet.org ?

• yes

• no

• No, but I'm doing it right now!