Introducing Amulet Protocol

Amulet has confirmed its official partnership with Taksh, a cross-chain gamified yield aggregator on Solana. 

Taksh is a Sanskrit word meaning “to invent” with an additional definition being “a great champion”. The extraordinary team behind their project are “inventing” on the Solana blockchain (like Amulet), taking advantage of its fast transaction speeds and low gas fee rates. Understanding that even great champions need protection, Taksh were keen to partner with Amulet with a focus on security and the safety of their users. 

Both projects are united in their vision of mass adoption of DeFi and Web3. Taksh recognizes that easy to track and easy-to-leverage yield is critical for this to become a reality. 

Yield Aggregators have gone a long way since their introduction to the space but there are still problems that need to be rectified. As of today, aggregators do not diversify yield sources, they do not currently support cross-chain deposits, there is a lack of gamification and fail to leverage all DeFi strategies. Taksh has been born to combat these issues. 

Taksh is built on Solana with available cross-chain technology and best yield strategies to generate higher yields for its users. At the same time, Taksh gamifies user participation through weekly raffles where part of the yield protocol generated is given away as a prize. An opportunity to win additional yield provides an exciting incentive for anyone who wishes to use their platform. 

Amulet is a DeFi insurance protocol for Rust-based ecosystems and is also being built on the Solana blockchain. The vision for Amulet is simple – providing reliable insurance for everyone in web3. 

With a mainnet launch scheduled for September, Amulet will strive to protect as many users as possible as they redefine the insurance industry with the PCUV (Protocol Controlled Underwriting Value) model. Launching initially with smart contract vulnerability and stablecoin depeg cover, Amulet will look at opportunities to protect users across the whole metaverse. 

Both projects have formed their official partnership to collaborate and develop together on Solana while also looking at how Taksh users can be protected by Amulet at launch. Being able to provide additional security options is vital for Taksh users to have peace of mind with their activities. More information will be announced about this in due course. 

Both projects will continue to support each other until then and look at solutions to enable overall growth within the industry.

“We are really excited about our partnership with Taksh. The team behind the project is extraordinarily talented, achieving things at young ages that many would never achieve in a lifetime. We are keen to work with projects that offer gamification as we see the potential in user experience and bridging that gap between those moving away from web2 and into web3. Projects like Taksh provide an environment where there could be a massive influx of users in a short space of time, we wanted to partner with them now so that we can continue to work behind the scenes to ensure the best solution for protecting these users.”