Amulet Protocol is a decentralized insurance protocol focused on the Rust-based ecosystem, beginning with the Solana blockchain. Amulet has created an open insurance model intended to tackle the issues seen in other decentralized insurance protocols, and to help shape a new direction for the insurance industry.

Amulet is working on what it calls Protocol-Controlled Underwriting (PCU): Amulet will develop its own underwriting functions and introduce a claim setup using a distinct Yield Backed Claim (YBC) method. This differs from existing insurance approaches that rely on leasing underwriting capacity from capital providers, aiming instead for a more durable underwriting and claims framework guided by the protocol. The goal of Amulet is to make Web3 insurance straightforward and dependable for everyone, and to give users across the Rust-based ecosystem access to insurance product options for hedging different risks.

Amulet’s governance token ($AMU) enables the community to submit and vote on proposals. Topics may include, among others, future reward distributions, whether specific claims are valid, target capital needs, adding new products, treasury buyback trigger levels, and adjustments to upcoming protocol objectives.