Parallel Finance

Parallel Finance is a developer of a decentralized lending and staking platform on PolkadtoPolkadot and Ethereum. The company's platform offers decentralized financial (DeFi) services and products, including lending, trading, staking, and derivatives on multi-chains withand has a focus on user safety and security. Parallel Finance is developed to enable token holders and projects to put idle capital to earn interest. The company was founded by Yubo Ruan in 2021 and is located in San Francisco.

The Parallel Finance lending protocol uses a pool-based strategy, which works to aggregatesaggregate user'susers' supplied assets. The protocol is developed to have a DOT, sDOT, and USDT pools where users can deposit their assets to earn interest. So long as the total suppliedsupply amount of a pool is not being borrowed, the pool is liquidiliquid, allowing usesusers to realize earned interest and to withdraw pooled funds. The earned interest is based on the supply interest rate of the asset, which is calculated based on the current interest being paid, and divided based on pool ownership amongst those supplying assets to the pool.

The Parallel Finance relay chain uses a nominated proof-of-stake (NPoS) in which those with the PARA or HKO token can stake their tokens to nominate validators and earn yields. This is used to secure the network, and to incentivize collaboraterscollaborators to produce valid blocks. Validators that harm the network have their staked assets slashed, and there is a delay or unbonding period enforced by protocols when a user wishes to cease participating.

The PARA token is the native token of Parallel Finance and HKO is the utility token for Heiko, which is Parallel's sister program, which has utilitesutilities mirrored on Kusama. Both tokens are used for protocol governance, transaction fees, network utility and incentive, security module staking, and validator insurance and incentivization.

Parallel Finance also offers a Parallel Wallet extension. The non-custodial multi-asset wallet solution is native to Parallel Finance and developed to give users ana unified DeFi experience. The Wallet is intended to serve as an entry point for users and helpinghelps them to secure their assets, and interact with Parallel Finance's other DeFi solutions.

Parallel Finance is a developer of a decentralized lending and staking platform on Polkadto and Ethereum. The company's platform offers decentralized financial (DeFi) services and products, including lending, trading, staking, and derivatives on multi-chains with a focus on user safety and security. Parallel Finance is developed to enable token holders and projects to put idle capital to earn interest. The company was founded by Yubo Ruan in 2021 and is located in San Francisco.

The Parallel Finance lending protocol uses a pool-based strategy which works to aggregates user's supplied assets. The protocol is developed to have a DOT, sDOT, and USDT pools where users can deposit their assets to earn interest. So long as the total supplied amount of a pool is not being borrowed, the pool is liquidi, allowing uses to realize earned interest and to withdraw pooled funds. The earned interest is based on the supply interest rate of the asset, which is calculated based on the current interest being paid, divided based on pool ownership amongst those supplying assets to the pool.

Parallel Finance allows users to borrow from the protocol with over-collateralized loans, with a floating interest rate that is determined by the utilization of the market's assets. Users, in order to borrow an asset, are required to deposit or approve an asset or assets as collateral that is more than the target outstanding borrowed amount.

The Parallel Finance relay chain uses a nominated proof-of-stake (NPoS) in which those with the PARA or HKO token can stake their tokens to nominate validators and earn yields. This is used to secure the network, and to incentivize collaboraters to produce valid blocks. Validators that harm the network have their staked assets slashed, and there is a delay or unbonding period enforced by protocols when a user wishes to cease participating.

The PARA token is the native token of Parallel Finance and HKO is the utility token for Heiko, which is Parallel's sister program which has utilites mirrored on Kusama. Both tokens are used for protocol governance, transaction fees, network utility and incentive, security module staking, and validator insurance and incentivization.

Parallel Finance also offers a Parallel Wallet extension. The non-custodial multi-asset wallet solution is native to Parallel Finance and developed to give users an unified DeFi experience. The Wallet is intended to serve as an entry point for users and helping them to secure their assets, and interact with Parallel Finance's other DeFi solutions.

Parallel supports both Kusama and Polkadot assets.

The foundation introduces a cross-alliance staking derivative to build an interest stacking module for lenders and stakers DOTs - xDOTs.

Our Mission

Bring DeFi to the Mainstream.

Parallel's mission is to innovate and bring DeFi to the next level.

We are creating the most secure and easy-to-use decentralized platform to empower

everyone access to financial services.