Muska: Building key components for stable and secure infrastructure on Web3

As more and more people around the world start using web3 applications in their daily work, we are currently witnessing unmatched growth in use cases, crypto adoption and blockchain networks. Organizations are seizing this opportunity to engage in the emerging web3 ecosystem by implementing compelling projects that transform existing products and services into blockchain-enabled offerings.

With these endless pools of streaming data, there is value to accrue by startups, companies, and institutions that tap into the potential of web3. An emerging game changer ready to renew the DeFi sphere amulet – the first decentralized insurance protocol for trust-based ecosystems. Working on the Solana network, they come with simple and reliable insurance quotes for web3.

Decentralized insurers are crucial to the integration of blockchain technology as they provide a safety net for the DeFi ecosystem. There are multiple approaches that insurance projects can focus on, such as smart contract vulnerability or even stablecoin depeg insurance, and the end results give users peace of mind knowing that their assets are protected in the event of a bug or hack.

The Commendable Beginning of the Amulet

In its first round of funding, Amulet successfully raised $6 millionis leading the seed round with gumi Cryptos Capital. Other key contributors to this initiative include Republic Capital, Solana Ventures, DeFiance Capital, Animoca Brands, UOB and Signum Ventures, Mirana Ventures, NGC, Longhash, Signum, SevenX Ventures, Digital Strategies, CMT Digital, Matrixport Ventures, a41 Ventures. . , Solar Ecofund, Daedalus Angels, Cobo Wallet, Re7 Capital, NetZero Capital, and several ecosystem partners such as Serum and Acala Network among others.

A successful round of seed funding means Amulet can grow organically and have some success as it tries to launch its services in the summer. A growth curve characterized by a round of seed funding means greater trust in the organization and a larger follower partner for Series A funding.

The project is the leading insurance protocol in the Solana network. Transparency and insecurity are key variables of decentralized networks, creating unexplored areas for protocols like Amulet to come in and provide investor protection and trust.

This is a commendable start for the Amulet protocol with its successful seed funding round and will be the first insurance protocol on the Solana blockchain. It is said that a journey of a thousand miles begins with a single step, and the Amulet begins its journey of one thousand miles with an unmatched speed that others can only envy.

Renewal DeFi Insurance

Over the past few years, DeFi has emerged as one of the most popular use cases in crypto, thanks to its potential to make financial applications more open and accessible.

amulet Renewing the DeFi insurance arena by developing a solution that addresses the conflict between equity shareholders and collateral buyers. At its core is Protocol Controlled Underwriting Value (PCUV), which provides a paradigm shift for DeFi insurance towards a scalable and sustainable future.

The changes enabled by Amulet in the DeFi insurance arena enable users to secure blockchain technology through liquid staking and insurance participation – all with a single protocol. With the immutable nature of on-chain data, data transfers and transactions gain certainty. This means we need DeFi insurance protocols like Amulet that compensate for the narrow margins of error that come with managing blockchain data.

Amulet’s Journey Turns Forward

Amulet is expected to follow in the footsteps of leading decentralized insurance protocols by offering smart contract risk, stable coin de-peg risk, slashing risk, and more as a startup. The emergence of the Metaverse offers a unique opportunity for Amulet to serve as a major building block and foundation in this virtual world of endless potential and possibilities. Some of the metaverse-related insurance products to expect from Amulet include:

  • GameFi asset insurance
  • NFT asset insurance
  • Cyber ​​Security insurance
  • Metaverse Life insurance
  • Virtual property insurance

Muska breathes new life into the decentralized insurance arena with its transparency and democratization of insurance, which provides significant improvements over the greed seen by other companies in DeFi insurance. As the Amulet protocol continues to grow, we look forward to expanding their product lines and creating more compelling opportunities to cater to other underserved markets in the cryptosphere, as they have done with DeFi and the metaverse.

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Disclaimer: This is a paid post and should not be considered news/advice.

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