Since the summer of 2020, DeFi volume has grown from $9.7B TVL (Total Value Locked) to $230B. Due to this growing market, we are seeing a huge increase in risk hedging demand and cryptocurrency users often suffer from smart contract vulnerabilities, fraud and NFT hacking. In 2021 due to about $3 billion was lost to hacks and exploits. However, only 2% of DeFi is currently covered by the coverage option. So - what's the solution? This is where the Amulet comes in, as we will explain in detail below.
Amulet is a DeFi coverage protocol for the Rust-based ecosystem with initial deployment on Solana. Our goal is to create a more secure Web3 for everyone by providing industry-leading digital asset protection.