Drift got listed on amulet protocol

Amulet Protocol has recently partnered with Drift and listed their protocol on their MainNet. This partnership will provide smart contract vulnerability cover for Drift, the fastest-growing derivatives DEX on Solana. The move is in line with Amulet’s commitment to protect as many web3 users as possible.

Drift Protocol is now live on Amulet, allowing users to stake $aUWT into the drift pool and earn an approximate starting APY of 10.02%. Additionally, users can purchase cover to provide an extra layer of security for their Drift assets.

Drift Protocol is an open-sourced, decentralized exchange built on Solana that allows transparent and non-custodial trading on a variety of cryptocurrencies. With Drift v2, users can trade perpetual swaps with up to 10x leverage, borrow or lend at variable rate yields, stake and provide liquidity, and swap spot tokens. These DeFi tools within the protocol are powered by Drift’s robust cross-margined risk engine, which provides traders with a balance of both capital efficiency and protection.

Drift v2 is innovative, with its Just-In-Time Auction mechanism that allows makers to step in and fill orders at better prices, achieving a more balanced long-short open interest and ensuring that the winners and losers are paid out symmetrically, regardless of price action.

Drift Protocol places a great emphasis on security, and they have passed Amulet’s risk assessment with flying colors. They have also been audited by Trail of Bits and have participated in a Bug Bounty with Immunefi. Users can now have further confidence in purchasing smart contract vulnerability cover with Amulet.

To stake $aUWT into the Drift pool on Amulet, users can head over to the “Underwrite” section of the MainNet, search for Drift Pool, connect their wallet, read the terms, and stake their chosen amount. To purchase Smart Contract Vulnerability cover for Drift Protocol assets, users can go to the cover section on the MainNet, connect their wallet, and purchase the cover.

Overall, Amulet Protocol’s partnership with Drift is a significant milestone, and the protocol’s users can benefit from the added security provided by Amulet’s smart contract vulnerability cover. Amulet is excited about this partnership and expects to list more exciting protocols in the coming weeks. If users have any questions, they can reach out to the Amulet team on Discord.