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Parallel Finance

Parallel Finance PARAPrice N/A

PARA Price

N/A

Parallel Finance has rebranded to Parallel Network and will launch a new token soon. The new token page: https://cryptorank.io/price/para...

General Info

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Description

Parallel Finance is a Decentralized Money Market Protocol that offers lending, staking, and borrowing in the Polkadot ecosystem.

Parallel Finance (PARA) Chart

Parallel Finance price Index provides the latest PARA price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.

Additional Data

ATH Market Cap

$ 24.28M

Max Supply

PARA 10,000,000,000

Total Supply

PARA 10,000,000,000

All Time High

$ 0.0402

9 Sep 2022


All Time Low

$ 0.00153

8 Feb 2024

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What is Parallel Finance (PARA)?

Parallel Finance is a Decentralized Money Market Protocol that offers lending, staking, and borrowing in the Polkadot ecosystem. Depositors can lend and stake simultaneously to earn double yield on their staked coins, and borrowers can collateralize to borrow. The project refers to this feature as "leverage staking," because users can lever up against their staking collateral to increase their yield overall. In addition, when a user's DOT and KSM are staked through Parallel, a reputation-determining algorithm is applied which maximizes staking yield on behalf of the user. In the future, projects and individual users will also be able to source their auction loans through Parallel's interface--a feature we call "auction loans." This feature will give users the ability to stay liquid while their DOT/KSM is locked in parachains, an it will give projects direct access to the liquidity they need to win parachain auctions.

PARA Token is the native token of Parallel Finance on Polkadot Deployment, distributed among key actors and partnerships in the ecosystem. This paper also details the economic designs of the token, and plans for parachain auctions. The utility token for Heiko (HKO), which is Parallel's sister program, will have the same utilities mirrored on Kusama.

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