Amulet Protocol Strategic Partnership with Project Serum

Published on: 12.08.2022
Amulet Protocol Strategic Partnership with Project Serum

Amulet Protocol announced its strategic partnership with Project Serum, a high-speed, orderbook-based, non-custodial DEX that’s built on Solana.

Amulet Protocol and Project Serum are delighted to announce their official strategic partnership, strengthening ties to the Solana ecosystem.

Amulet will launch on the mainnet at the end of September, initially onto the Solana blockchain before moving on to become a true multi-chain cover protection solution. Serum is a protocol and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance.

Serum built on the Solana blockchain and is completely permissionless. Serum observed the growth of DeFi over the last couple of years, particularly the growth of DEXes on Ethereum, and noticed limitations for users and developers due to the extortionate gas fees and slow transactions. As a result, Serum was born to solve these issues and to improve issues of centralization, capital inefficiency and liquidity segmentations.

Launching as one of the first major open-source projects on Solana, Serum has a variety of offerings: 

  • Serum Core – Asset Agnostic order book for matching any Solana-based trading product. Serum’s backend matching engine is perfect for both financial and non-financial instruments.
  • True Composability – Serum’s architecture makes it possible for a diverse range of applications and participants to share middleware in one place.
  • Developer Ecosystem and Services – Serum offers a decentralized on-chain order matching service giving full control to developers. Serum DEX also offers a greater source of pooled liquidity.
  • Serum Token (SRM) – SRM is the utility and the governance of the Serum ecosystem and is fully integrates to benefit from buy/burn of fees.
  • Solana Speeds and Costs – Like Amulet, Serum uses Solana due to the extremely low transaction costs and the speed of the platform.

Partnership Highlights

Amulet has been keeping a close eye on Serum since their August 2020 launch and the success of the project encouraged us to embark on our own journey.

Like Serum, Amulet was watching the growth of DeFi, and later. DeFi protection options throughout 2020 while also keeping a close eye on the Solana ecosystem.

The low fees and high speeds encouraged Amulet to take their learnings from others and create the first DeFi cover protection protocol for Rust-based ecosystems. Amulet has also redefined the cover protection model with their unique PCUV (Protocol Controlled Underwriting Value) solution.

Both companies wanted to announce this partnership as they share the same ultimate vision for the industry. T to drive to global mass adoption of web3 and DeFi.

This partnership announcement is the catalyst to working on that vision together. Both companies will unite in collaborating against DeFi exploits. Raising the profile of the Solana ecosystem and BUIDLing a strong future for the entire industry.

“I’ve been wanting to announce this partnership since before we even announced Amulet! I’ve been closely following Project Serum for many months and now leading to years. The team are incredibly experience and passionate, and we feel that we could work together on a variety of activities to drive DeFi mass adoption, even during these complicated times!” Rupert Barksfield, Project Lead, Amulet 

About Serum

Serum provides a fully on-chain orderbook, allowing applications such as trading interfaces to ‘plug into’ Serum’s composable ecosystem.

Serum lives in the heart of the ecosystem. Providing services to its ecosystem applications, each with their own technology and set of users. Anyone can create a trading application that leverages Serum’s liquidity and its ecosystem benefits.

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About Amulet

Amulet is a decentralized cover protocol built for the Rust-based ecosystem, starting with the Solana blockchain. Amulet has designed an innovative and open cover model, which not only effectively addresses the common challenges of existing decentralized cover protocols, but also creates a new paradigm shift for the whole cover offering sector.

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SOURCE

https://amulet.org/blog/amulet-protocol-confirms-strategic-partnership-with-project-serum-as-they-continue-to-buidl-on-solana/

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