Amulet
@AmuletFinance
Followers
2,379
Following
128
Media
11
Statuses
223
Building Amulet - a non-custodial lending protocol to unlock capital on Cosmos with self-repaying loans on staked assets |
Joined November 2022
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Pinned Tweet
Are you ready
@cosmoshub
? Let’s take a deep dive into how Amulet Finance works with a 🦣 series of threads…
Read, share, give us feedback and join our community to support our ambitions to unleash
#DeFi
on
@cosmos
!
1/23
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Change is coming to
@cosmos
⚡️
Be part of the Amulet Testnet cross-chain staking and borrowing experience on
@Neutron_org
and
@cosmoshub
testnets
⏰3pm UTC 6 February 2024
2
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80
🏁 The Amulet testnet is now live with a new deployment!
💪The team has worked hard to ensure that the strategy contract is compatible with the upgraded Cosmos testnet
💡Further improvements are also in the pipeline:
☑️ simplifying the current implementation
☑️ separating…
9
20
71
⚔️ The team has been battling a few pesky bots chasing worthless testnet $ATOM (whyyy?!! ☺️)
The Amulet Testnet is still getting lots of visits from real testers! ❤️
👀 ~ 5,000 transactions on the Amulet Hub in just 2 days…
#probablynothing
@cosmos
@Neutron_org
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7
66
A major milestone for unlocking value on
@cosmos
has been reached! 🔥
The $ATOM strategy for cross-chain staking via IBC from
@Neutron_org
to
@cosmoshub
is in audit with
@SecurityOak
🥳
🎯 Self-repaying loans are coming - where the odds are ever in your favour!
#stakeandspend
3
7
61
🪄 The first full day of the Amulet Testnet has been extraordinary - thank you to everyone who has tried it out!
💦 To give more people the chance to be involved, we are limiting claims to 5 ATOM and 0.5 NTRN testnet tokens
We ❤️ the Amulet community!
@cosmos
@Neutron_org
5
9
56
We looked at how to get testnet $ATOM and $NTRN currently and decided to make it a whole lot easier for users of our upcoming testnet… ❤️
Many thanks to
@HyphaDoesCosmos
and
@Neutron_org
for helping make this possible!
👀 No hunting for your wallet address either!
@cosmoshub
7
10
56
👀 On its way, sneak peek!
The first (of many) LSTs on Amulet, coming to testnet! ✊
💰 Get your LST rewards upfront!
@Neutron_org
@cosmoshub
@PersistenceOne
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13
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This is the way…
Working with
@Neutron_org
@ATOMAccelerator
and
@stride_zone
we won’t stop until $ATOM takes its rightful place as the “currency” of Cosmos powered by the
#AEZ
Self-repaying loans in amATOM are coming to Neutron… with default gas in $ATOM ⛽️💵
#stakeandspend
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10
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Our followers doubled from 1,000 to 2,000 in just over a week! 🤩
📝 More importantly, we’re seeing lots of truly helpful feedback coming through ❤️
Thanks to everyone helping to make Amulet the best experience possible on
@cosmos
for users! 🙏
@cosmoshub
@Neutron_org
6
4
46
Testing is on 🔥 at
@AmuletFinance
!
Remote PoS staking strategy fully working on-chain targeting SDK v0.45+ remote chains - starting with
@cosmoshub
!
One contract deployed on
@Neutron_org
doing the job of a whole blockchain ☺️
The Integrated Application Network is real and…
13
11
46
1/ What is our vision for
@AmuletFinance
?
🏹 Self-repaying loans sound good, but what’s the real aim?
In crypto liquidations seem normal, but they aren’t in real life 💵
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Update: following a redeployment of the strategy contract, the Amulet testnet will be restarting later today!
🏦 Users will again have the ability to claim testnet ATOM and try out self-repaying loans on
@Neutron_org
and
@cosmoshub
👀 Keep watching this space!
8
5
39
♟️Heading into a major planning session today for the mainnet launch of Amulet v1 and post-launch roadmap… 👀
What would
@cosmoshub
like to see built or integrated first after enabling Advances for staking $ATOM?
#haveyoursay
#loanswithoutliquidations
$amATOM
@Neutron_org
8
10
44
We’re delighted to have the support of
@ATOMAccelerator
to build the first deployment of Amulet using smart contracts and ICA/ICQ on
@Neutron_org
and the
@cosmoshub
!
$ATOM holders will be able to borrow against their staked assets with self-repaying loans
#Web3
#DeFi
5
5
37
Hot off the press, read all about it! 📰
#stakeandspend
$ATOM $amATOM
@coinclub_
@Neutron_org
@ATOMAccelerator
2
13
38
It was a privilege to showcase the Amulet testnet at
@CosmoverseHQ
in the AEZ room today!
Self-repaying loans will empower users to have their yield and keep it!
#stakeandspend
A huge 🌊 of interoperable
#DeFi
is coming
$ATOM $amATOM
@ATOMAccelerator
@cosmoshub
@Neutron_org
3
5
32
Non-custodial. Self-repaying. No rehypothecation. No liquidations of Advances. New “money”. Coming to
@Neutron_org
and the
#AEZ
, supported by the
@ATOMAccelerator
and
@BuildersProgram
And who knows what will follow next…
Are you excited, anon? 🐸
$ATOM
#stakeandspend
1/ How Satoshi was wrong (kind of) and what crypto can do right…
“The root problem with conventional currency is all the trust that's required to make it work. …Banks must be trusted to hold our money, but they lend it out… with barely a fraction in reserve” - S Nakamoto, 2009
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Don’t miss the Amulet live demo on the
@Neutron_org
testnet tomorrow on Day 2 of
@CosmoverseHQ
Istanbul!
#stakeandspend
🗓️ 3 October 2023, 11.50 UTC +3
#AEZ
$ATOM
@ATOMAccelerator
2
7
31
Testnet update:
For any users waiting on their IBC transfer - it looks like the relayers on testnet Cosmos <> Neutron have been maxxed out for gas with the level of demand/volume
These are starting to clear, please check your address again in a while 🙏
@cosmos
@Neutron_org
2
1
27
Update: The Amulet testnet was paused on 13 February for the team to investigate a reconciliation issue in the testnet strategy
💡When the Cosmos Hub testnet upgraded from SDK v0.45 to v0.47, this changed how balances were stored on the Cosmos Hub side. The strategy was no…
4
3
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$ATOM just needs a catalyst to unlock its potential… like a low risk way of leveraging staked $ATOM and derivatives with self-repaying loans 😉
Tokenomics of all pre-2018 tokens look different from 2024, but we’re here for the tech 🙂 ⚛️
Amulet ❤️ $ATOM
For a token that has been boring in price action, it is consistently in the top 30 in market cap, amongst the top in
#IBC
volume, has been battle tested for over 5 years, funded the creation of many protocols in the interchain.
$atom has been widely misunderstood but I believe…
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Looks like our testnet is quite popular and the faucet has temporarily run dry. We are replenishing it! 💦
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💯 agree, and
@Neutron_org
is the best place for a cross-chain implementation in
@cosmos
Like self-repaying loans on staked assets 😊
Appchains make most sense for high margin protocols like Perp dexes.
High volume low margin businesses benefit from the structural cost reduction at feature parity of Integrated Applications.
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Update:
Testers will find that there is a shortage of testnet NTRN available from the webapp faucet at the moment
We are sourcing more in volume for the webapp faucet, but otherwise there's a faucet in the Neutron Telegram and Discord - links pinned in the Amulet channels
Faucet settings are being adjusted to handle demand and the testnet relayers are also needing updates - apologies for any delay, your testnet tokens in transit are still safe 😃
0
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Delighted and grateful to have the support of the awesome
@NeutronGrants
! Huge thanks to
@LanrayIge
and all of the team running the program ❤️
Builders will
#BUIDL
on
@Neutron_org
@AmuletFinance
is a self-repaying loans platform for the AEZ, which recently launched their testnet. We'll support them as they work towards deploying their mainnet in the coming weeks.
3
1
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0
3
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Look out for some Easter eggs coming soon on Amulet testnet! 🐣
⏳ Suggest repaying existing positions with amATOM and unstaking in the next few days in readiness - you’ll be starting new ones 🤫
Old positions will be accessible on an archive testnet if required!
@Neutron_org
…
2
2
25
Come and learn all about Amulet in our first Twitter Space with
@ATOMAccelerator
!
We’ve been busy building and will be sharing the latest developments on the road towards self-repaying loans that will unlock capital on
@cosmos
#BUIDL
#Cosmos
@Neutron_org
Our next space is happening tomorrow. Join us to hear from some of the teams we are supporting as they discuss their projects.
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4
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0
7
23
Faucet settings are being adjusted to handle demand and the testnet relayers are also needing updates - apologies for any delay, your testnet tokens in transit are still safe 😃
Looks like our testnet is quite popular and the faucet has temporarily run dry. We are replenishing it! 💦
4
3
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0
3
20
It’s almost time to start learning more about how Amulet aims to transform
#DeFi
on
@cosmos
with self-repaying loans 💰
The
@ATOMAccelerator
#AEZ
and
@Neutron_org
are where it’s at!
Keep a close 👀 on this space!
1
3
24
Set the date - let’s talk about how we’re creating a new kind of
#cryptofi
on
@Neutron_org
and the AEZ starting with low risk self-repaying loans!
A whole new 🌎 of 💸 coming soon, only on
@cosmoshub
$amATOM $ATOM
@CosmosClub_
Excited to welcome
@AmuletFinance
on our next space to talk lending in Cosmos, Neutron and AEZ 🎤
Amulet is a non-custodial lending protocol to unlock capital on
#Cosmos
with self-repaying loans on staked assets 😎
Set your reminder below👇
1
20
14
1
2
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1/ Happy New Year to everyone, especially followers of Amulet and the
@cosmos
community! 🎉
🗞️ Update: we’ve been working hard over the festive period to get to testnet. In the process we’ve identified technical issues with synchronising and relaying
@Neutron_org
<>
@cosmoshub
3
0
23
Success at planning, planning for success ☺️
#bullishbuidlers
♟️Heading into a major planning session today for the mainnet launch of Amulet v1 and post-launch roadmap… 👀
What would
@cosmoshub
like to see built or integrated first after enabling Advances for staking $ATOM?
#haveyoursay
#loanswithoutliquidations
$amATOM
@Neutron_org
8
10
44
1
4
21
It’s official! 🏁
✅ Initial testnet on
@Neutron_org
✅ Audits underway
Amulet contracts are being audited right now by
@SecurityOak
, funded by
@ATOMAccelerator
!
Proud to join the community of builders of exceptional DeFi apps on the ATOM Economic Zone ❤️
#stakeandspend
$ATOM
1
2
21
May we introduce ourselves? We have lots to talk about… ☺️
#stakeandspend
@cosmos
@Neutron_org
@ATOMAccelerator
@BuildersProgram
3
8
20
Any takers? 🙂
Seems a no-brainer to us, can’t think why 😁
How interested are you in Leverage trading with future staking rewards today, never putting your principal at risk
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1
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⏱️Last chance to unbond your testnet staked ATOM on Amulet testnet!
Unbonding takes two days, you can then claim your unstaked tokens in readiness for the new testnet deployment ❤️
3
6
22
Attention all testnet users:
❗️We have detected a bug in the strategy that is preventing it from working as intended. It appears to be an error in the reconciliation sequence between the ICA on Cosmos testnet and the vault contract on Neutron’s testnet
⏸️ For the time being, new…
5
2
15
Update:
💡It appears that as a result of an upgrade to the Cosmos theta testnet yesterday, the balances in the Interchain Account have stopped reconciling with the strategy contract on Neutron
🎯There is no bug in the Amulet code, but there is a compatibility issue with the new…
Attention all testnet users:
❗️We have detected a bug in the strategy that is preventing it from working as intended. It appears to be an error in the reconciliation sequence between the ICA on Cosmos testnet and the vault contract on Neutron’s testnet
⏸️ For the time being, new…
5
2
15
0
6
15
🛸 Cosmonauts, look out for an in-depth discussion of how Amulet Finance works, landing very soon…
Learn more about how getting an Advance on $ATOM rewards, stATOM and wstETH will empower users and launch
@cosmoshub
#DeFi
into the stratosphere!
@Neutron_org
@ATOMAccelerator
1
1
16
@simonch00
Once Amulet launches, y’all will love these pullbacks where your debt goes down and you aren’t at risk of liquidation
3
4
13
Amulet Finance is an innovative cross-chain DeFi lending protocol built on Cosmos and launching on
@Neutron_org
that will allow users to obtain a self-repaying loan on the rewards earned from staking Proof of Stake cryptoassets and from generating yields on DeFi strategies.
2/23
1
0
13
Only 5️⃣ hours until the space with
@CosmosClub_
where we’ll be talking self-repaying loans on
@cosmoshub
and
@Neutron_org
Highlights:
🪄 Self-repaying loans on POS assets and other strategies
🔑 Non-custodial without rehypothecation 🚫
❤️ No more🩸from getting liquidated
$ATOM
0
0
13
3/ Users deserve financial tools which don’t involve the rehypothecation or liquidation of their deposits 🏦
That’s why we’re building
@AmuletFinance
🙂
Starting with Advance - non-custodial loans without liquidations - coming to
@Neutron_org
soon!
0
0
12
If you missed our first Twitter Space today with
@ATOMAccelerator
, don’t miss this one tomorrow with
@stride_zone
!
Come and find out how Amulet’s lending protocol will be able to integrate LSTs for self-repaying loans on Cosmos 🔥
4/6 What's next for LSTs in the Cosmos? Let's discuss the next wave of Cosmos LST DeFi apps.
On July 13th at 3PM UTC, Stride will be hosting a Twitter Space with
@AmuletFinance
,
@Fission_Finance
,
@Tenet_org
, and
@Insaneinthembrn
.
Save the date 👇
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We’re delighted to have the support of
@buildersprogram
to build Amulet - a cross-chain lending protocol with unique features enabling
@cosmos
stakers and DeFi users to obtain self-repaying loans!
Looking forward to working with
@binary_builders
to grow the interchain 🔥
📢 We're thrilled to announce the Q3 2023 cohort of the Builders Program!! 🎉
After reviewing >40 teams, we're excited to work with the strongest applicants building projects across Infra & Tooling, Data and DeFi
Read our blog (linked below) to learn more about each 👇
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🐂 Bull market?
🐻 Bear market?
⛽️ Pump?
🪤 Trap?
🤔
#justBUIDL
With self-repaying loans on future staking rewards/LP yields and no liquidations on Advances, Amulet users will be able to thrive in any market 😌
@cosmoshub
@Neutron_org
$ATOM $amATOM
#stakeandspend
2
1
12
Hello
@cosmos
!
We’re excited to be building Amulet, using the power of IBC to enable cross-chain self-repaying loans on staked Cosmos assets
0
2
11
What would you like to see most on Amulet’s upcoming testnet redeployment?
@Neutron_org
@cosmoshub
😊
Advances on LSTs
18
Swaps on a dex
14
Perps for amATOM
16
Nvm, just launch now! 😂
27
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0
10
What happens to to the yield that comes in, and how does the protocol sustain itself? This is where it gets even more exciting - a sustainable protocol that not only provides a genuine service to users but also earns real yield. We'll cover this and a lot more in Part 2!
23/23
0
0
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0
1
9
This is Part 3 of our mega-thread on Amulet Finance will work, where we spill the tea on where we've come from and what's happening now!
1/11
1
4
8
@zmanian
They’d rather retain direct exposure to $ATOM and not risk getting liquidated on it - which is what Amulet Finance will enable soon on
@Neutron_org
with self-repaying Advances on staked $ATOM
0
1
8
Here, the asset deposited will likely not be autocompounding, but will be deployed in a pool with one that is.
22/23
1
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At any time a user can also voluntarily close their position by paying off outstanding debt with their collateral, and receiving the balance, subject to unbonding.
9/23
1
0
6
2/ We’re currently resolving these - DeFi isn’t just any software, it’s the future of 💸, so we are being ultra-careful to
#buidl
it right. We’re confident it will be worth the wait!
Thank you for your patience and here’s to a wonderful year ahead! 🥳
$ATOM
#stakeandspend
0
0
6
@73lV_
@NolusProtocol
@Umee_CrossChain
@mars_protocol
@Levana_protocol
@sommfinance
Just wait until Cosmonauts can 1. Stake $ATOM and get a self-repaying Advance of $amATOM on
@Neutron_org
1
1
7
Stake and spend with Advance
Stake: Users of Amulet will be able to deploy cryptoassets via smart contracts to generate Proof of Stake rewards.
Alice deposits 1,000 ATOM into the Amulet vault for staking ATOM, earning ~20% staking rewards.
4/23
1
0
6
As the amAsset is treated 1:1 with the deposited asset, an Advance is overcollateralised by the staked assets and there is zero risk of liquidation by the protocol. Essentially, users get their future yields upfront.
7/23
1
0
6
Advance: By staking their assets, users are then able to mint a loan - termed an “Advance” - worth up to 50% of the value of their staked assets, effectively receiving an advance on their future yields. On Advance, the loan is minted in a synthetic asset, called an amAsset.
6/23
2
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This is Part 2 of our mega-thread on how Amulet Finance will work. In this part we'll cover the Reserves, Treasury, the benefits of using Amulet, its sustainability, risks and more!
1/24
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If she doesn’t need a loan yet, over time Alice can claim her rewards and restake or spend them, or she can build up a positive credit balance to draw upon as and when required.
5/23
1
0
5
Over time, users’ stATOM rebases will be applied to repay the Advance, keeping their baseline ATOM position the same as when they entered the protocol. A similar approach will apply to wstETH.
20/23
1
0
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Users will have the option to deposit autocompounding LSTs into vaults which monitor the redemption rate in order to split the ongoing yield from the principal amount determined upon entry. This will allow users to mint an Advance in a synthetic asset: amATOM for stATOM.
19/23
1
0
6
It was a privilege to join this awesome Space!
The AEZ is the place to be 😊
Here's DeFi Mega Space Number 3 recorded Feb 20th 2024.
@CosmosDefi
@AmuletFinance
@TrustlessMike
@Curious__J
@shellvish
@ApolloDAO
@AnonNgmi
Support TerraSpaces
0
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Congratulations to
@Eclipsefi
on a killer launch! ☄️
Expecting many more great things to come 🔥
2024 is going to be magical on
@cosmoshub
and
@Neutron_org
🟣 $ECLIP launched yesterday. We expected sell pressure, but it didn't appear. In fact, in the past 72h
@eclipsefi
:
• Sold out $900k worth of allos across 3 pads, additional $200k on
@impossiblefi
, and $300k on our platform, with $150k in FCFS gone in 2 seconds (+ seed /…
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As yields are generated via the protocol smart contracts, the debts of Advance users are reduced accordingly. Users may choose to withdraw their staked collateral assets, or continue to earn yield and obtain a fresh Advance up to the permitted LTV ratio.
8/23
1
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Next, we'll look at how this will work for staking derivatives like $stATOM and $wstETH
17/23
1
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There are lots of ways users can take a position using Amulet. For example:
10/23
1
0
5
Amulet will also enable users to obtain loans using autocompounding staking derivatives, such as stATOM and wstETH. This will work slightly differently to the above as the yield is not generated from directly staking the asset, but from the increasing redemption rate.
18/23
1
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Let the Liquidity Games begin 🏹
6/13
𝗟𝗶𝗾𝘂𝗶𝗱𝗶𝘁𝘆💧
Neutron has already 20m in TVL (mostly in
@astroport_fi
) with important dapps & integrations like:
•
@Levana_protocol
🐉
•
@AmuletFinance
🧿
•
@NolusProtocol
☀️
•
@fission_finance
💥
coming soon... 👀
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Which kind of user would you like to be?
16/23
(a) Alice - crypto ape
4
(b) Bob - give me stables
3
(c) C - farming degen
6
None - I've a better idea
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(b) Bob also wants to borrow against 10,000 ATOM, but he wants a stablecoin loan without getting liquidated on his precious ATOM. Bob borrows 5,000 amATOM and provides it as a collateral on a CDP to borrow, say, IST, USK, USDC or USDT.
12/23
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(a) Alice wants to borrow against 10,000 ATOM to invest in another crypto. Alice borrows 5,000 amATOM and sells it. Over time, her loan of 5,000 amATOM is paid off from staking rewards on her ATOM. At any time she can repay early using ATOM or amATOM or close her position.
11/23
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Other strategies that may be deployed on Amulet involving staking derivatives could also include LP tokens where a staking derivative is paired with a native token, for example a pairing of ATOM and stATOM, or wstETH and axlwETH.
21/23
1
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5
If amATOM falls in price, Bob’s Advance will still be repaid automatically. If he is liquidated on his amATOM CDP, his native 10,000 ATOM is still safe.
13/23
1
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5
As amATOM and ATOM are likely to trade close to 1:1, Charlie earns farming yields at low risk.
15/23
1
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5
@supermarkcute
@cosmos
@Neutron_org
You’ll be able to claim some testnet ATOM and NTRN when entering the testnet ☺️
1
0
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Charlie wants to earn farming yields on his ATOM tokens as well as staking them, without risk of impermanent loss. Charlie can stake his ATOM on Amulet, obtain amATOM and provide liquidity on a dex for say amATOM/ATOM to earn liquidity provider fees and rewards.
14/23
1
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Post has been edited - to retrieve all testnet ATOM staked, it’s best to repay with amATOM and unstake the ATOM
0
1
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At Amulet Finance, we’ve been on quite a rollercoaster to build a protocol that we feel passionately about - it’s been tough at times, especially during this challenging bear market.
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@WillbBTC
There’s a reason we will be launching primarily with $ATOM on
@Neutron_org
and it’s because we love the tech and value the support we’ve had. We couldn’t have got this far without the
@ATOMAccelerator
,
@0xSpaydh
and
@BuildersProgram
1
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When there’s 🩸on the markets, it’s a really good time to be building…
…especially a lending protocol that protects users from liquidation…
In fact borrowers on Amulet Finance could be repaying loans at a discount in the current dip 💰
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